HDFC Bank loans grow 14% in F.Y. 21

HDFC Bank has reported 16.3% growth in deposits and 14% in advances during the financial year 2020-21. IndusInd Bank and Yes Bank too have reported high deposit growth of 27.7% and 54.7% respectively, indicating a gain in market share after a turbulent fourth quarter in FY20.

In a statement to the exchanges, HDFC Bank stated that its deposits stood at Rs. 13.4 lakh crore at the end of March 2021 – an increase of 5% over the previous quarter and a 16.3% increase for the financial year.

HDFC Bank’s loans stood at Rs. 11.3 lakh crore – an increase of 4.6% over the previous quarter and 13.9% year-on-year. This shows that a large chunk of the banking sector’s loan growth has come from HDFC Bank.

According to a research report by Emkay Global, the bank has accelerated the purchase of mortgage loans from HDFC to Rs. 7,500 crore in Q4 from Rs. 7,100 crore in Q3.

The report said, “Corporate growth remains strong at 21% year-on-year owing to healthy working capital demand and the bank’s focus on capturing market share in better-rated corporates. The bank expects the momentum to continue as the private investment cycle is likely to revive from H2FY22.”

Popular from web