hdfc bank expects loan growth of 17-18 percent in the current financial year
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After this merger, SDFC Bank has become the second largest bank in the country after State Bank of India. The bank’s total loans or advances have increased by 15.8 percent to Rs 16.15 lakh crore in the first quarter.
New Delhi. HDFC Bank, the country’s largest private sector lender, expects its loan growth to be 17-18 per cent in the current financial year. The parent company HDFC has merged with HDFC Bank with effect from July 1. After this merger, SDFC Bank has become the second largest bank in the country after State Bank of India. The bank’s total loans or advances have increased by 15.8 percent to Rs 16.15 lakh crore in the first quarter. HDFC Chief Financial Officer (CFO) Srinivasan Vaidyanathan said in a recent analyst call, “We believe there is adequate credit demand overall.”
He said that the bank will adopt a selective approach in terms of loans. We will not participate in some loans. “If the price doesn’t suit us, we won’t participate.” Meanwhile, Keki Mistry, vice-chairman of the now-merged HDFC Ltd, has become the highest-paid independent director. Under his leadership, the market valuation of all the listed companies including HDFC Bank has gone up to about Rs 27 lakh crore. Apart from HDFC Bank, Mistry is also associated with Tata Consultancy Services (TCS), HDFC Life, Torrent Power, Flipkart and other companies.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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