Bank’s new product offerings
Our Banking Bureau
16 February 2002
HDFC Bank has decided to go on a ‘relationship pricing’ mode
with its existing clients who buy any of its new product
offerings. This will essentially mean that an existing customer
who buys any new product will be given a favourable treatment.
The objective is two-fold. One, to ensure that once a customer
comes to the bank he remains so for ever. Two, to help a client
get a whole gamut of services under one roof at competitive terms.
The relationship pricing proposal, it is felt, could go a long way
in enticing even new clients to the bank’s fold.
Addressing a press conference here, HDFC Bank managing director
Aditya Puri said since the bank has come out with a host of
products, relationship pricing will improve the buying efficiency
besides offering purchase protection.
Puri also said the bank
will set up a representative office in the UAE in a month’s
time. This will help provide better services
to NRI clients there. Depending on the UAE experience, similar
offices will be set up in other places to cater to NRIs’ needs.
The bank, he said, had
recently got into commercial vehicle financing. Initially, HDFC
Bank will focus on 30 cities where it has presence. The margins in
commercial vehicle financing are much better than in car
financing, he added. "But the rates may could be
differential, depending on an assortment of factors."
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