HDFC Bank: MSME loan portfolio in Tamil Nadu exceeds Rs 20,000 crore in advances


  • So far, the bank has offered advances to more than 60,000 MSME units in the state

  • Second bank for MSMEs in Tamil Nadu with more than 10% market share

Chennai, December 15, 2021: HDFC Bank’s MSME loan portfolio in Tamil Nadu has passed the Rs. 20,000 crore mark. As of September 30, 2021, the bank’s book on Micro, Small and Medium Enterprises for Tamil Nadu exceeds Rs. 20,000 crore. It is now the 2nd largest bank for MSMEs in the state with a market share of over 10%.

HDFC Bank started offering advances to Tamil Nadu MSMEs in 2004. Over the past 17 years in the state, the Bank has offered advances and supported the growth plans of over 60,000 MSME businesses. These businesses demonstrate the entrepreneurial spirit that forms the backbone of economic growth in more than 162 towns and villages spanning 37 districts of Tamil Nadu state.

In addition, HDFC Bank has supported more than 5,300 companies under the Indian government’s ECLGS program.

“We thank our customers for the confidence placed in the bank”, Said Mr. Arun Aravind, Head of Corporate Banking Services – Tamil Nadu, HDFC Bank. “MSMEs are the backbone of the economy and are among the biggest job creators. We are proud to have been a partner in their growth with our world class products. Benefiting from an enabling policy environment, the enterprising state of Tamil Nadu presents opportunities for MSMEs and banks. To meet these requirements, we will expand to 20 locations in the state and increase our digital footprint in the state. ”

The Bank has a solid range of products and services. Some of them are:

Cash credit and working capital loan

Term loan

Discovered Against Property

Export financing

Bank guarantees / Letter of credit

Purchase order financing / Invoice discounting / Invoice financing

Treasury products and services

Cash management services

Private banking / Wealth management services

Corporate cards and digital payment services

Investment banking offers for MSMEs

Retail Asset Products – Auto Loans / Home Loans / Consumer Loans etc. to the promoters and the group of promoters

The majority of these products as well as services can be used digitally, using the bank’s real-time online solutions – TradeOnNet; Netbanking; and the SME Bank. In the MSME sector, digital transactions represent over 50% of total transactions and overall 92% of transactions are digital for the Bank.

The key sectors to which the Bank has provided advances include:

Textile

Agribusiness & agrifood

Metal

Industrial / electrical machinery / equipment / products

Paper / Packaging

Consumer Staples / Electronics / White Goods / Footwear

Health and education

Crafts, including wooden furniture

About HDFC BANK

For more information, please log on to: www.hdfcbank.com.

For media inquiries, please contact:

Ravindran Subramanian

Vice-President, Corporate Communication

HDFC Bank Ltd., Bombay.

Phone. : + 91-22-6652 7128

Mobile: 9223306610

[email protected]

Twitter: @ravisunHDFCBank


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