More News
RETAIL BANKING | Staff Reporter, India

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. 

Also read: How is HDFC Bank's Nitin Chugh retaining customer centricity in digitalisation?

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.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.