HDFC Bank Gains After Reporting Loan Growth Of 14% In June Quarter


HDFC Bank’s retail disbursements during the June quarter Jumped 202% to Rs 43,600 crore.

Shares of the country’s largest private sector lender – HDFC Bank – rose as much as 1.44 per cent to hit an intraday high of Rs 1,501.95 after it said that its loan book during the quarter ended June 2021 or the first quarter of the current financial year rose 14.4 per cent to Rs 11.47 lakh crore from Rs 10.03 lakh crore in the same quarter last year. On a sequential basis, HDFC Bank’s loan book advanced 1.3 per cent.

During the period, HDFC Bank’s deposits advanced to Rs 13.46 lakh crore from Rs 11.89 lakh crore in the same period last year, registering growth of 13.2 per cent, the country’s largest lender said.

Its portfolio of retail loans grew by 9 per cent annually while commercial and rural banking loans grew by around 25 per cent on an annual basis.

HDFC Bank’s retail disbursements during the quarter ended June 30, came in at Rs 43,600 crore, a growth of 202 per cent compared with Rs 14,400 crore, during the corresponding period a year ago,

During the quarter ended June 30, 2021, the bank purchased loans aggregating Rs 5,489 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.

HDFC Bank shares, have so far this year, advanced 4.53 per cent compared with 10 per cent gain in the Sensex.

As of 1:09 pm, HDFC Bank was trading 1.2 per cent higher at Rs 1,498 and was top contributor towards gain in the 30-share Sensex.

Source link