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RETAIL BANKING | Staff Reporter, India
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HDFC loan growth beat industry average at 22% in Q1

Personal, credit card, two-wheeler and business lending performed strongly.

HDFC loans rose 22% YoY in Q1 to smash the banking sector’s average lending which clocked in at 12.4%, according to Maybank Kim Eng. 

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The lending surge can be attributed to strong performance in high-yielding loan segments including two-wheeler, credit card, personal and commercial vehicle loans.

“We forecast a 20% loan CAGR for FY19-21E,” Maybank Kim Eng said in a report.

Gross bad loans were also flat at 1.3%, even though some stress was detected in its agriculture loans with gross slippages rising from 1.7% last quarter to 2%. “Our credit- cost forecast is 85bps for FY19-21E,” the firm added.

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