HDFC Bank’s MSME loan portfolio in Tamil Nadu exceeds Rs 20,000 crore

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The private sector bank HDFC said on Friday that the bank’s loan portfolio to micro, small and medium enterprises for Tamil Nadu exceeded Rs 20,000 crore as of September 30, 2021.

The bank was the second largest bank in the state with a market share of over 10%, HDFC Bank said in a statement.

HDFC Bank has been providing advances to Tamil Nadu MSMEs since 2004 and over the past 17 years has supported the growth plans of over 60,000 MSMEs in the state.

“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 journey with our world class products. We thank our customers for placing their trust in the bank ”, HDFC Bank, said Arun Aravind, Head of Corporate Banking Services, Tamil Nadu.

“Benefiting from an enabling political environment, the enterprising state of Tamil Nadu presents opportunities for MSMEs and banks. To meet these requirements, we will expand to 20 locations across the state and increase our digital footprint, ”he said.

The bank offers its products in the form of cash credit, working capital loan, term loan, property overdraft, export finance, among others, to MSMEs operating in the state.

Some of the key sectors where the Bank has advanced the MSME portfolio include textiles, metals, paper and packaging, healthcare, food processing, consumer durables, among others.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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