The other main purpose of the branches is to sell products.
Whenever someone visit a branch for whatever reason it’s a great opportunity to push the customer into buying
Insurance
Mutual fund
Home loan
Etc etc.
If we all just use Internet banking and never visit the branches, how will they be able to sell all these products?
Whenever they sell insurance, hdfc life can benefit if they sold hdfc life insurance. Hdfc Bank has a stake in that entity so great.
When they sell home loans it’s great because it’s merged with Hdfc now
When they sell mutual fund, hopefully they are selling hdfc mutual funds in which case it boosts hdfc amc which is also great because the bank owns amc.
So as a owner in the bank and amc and hdfc life it is all win win win.
Let them open many branches and sell sell sell more products
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