HDFC Bank Gains After Reporting 14% Credit Growth In June Quarter



HDFC Bank Gains After Reporting 14% Credit Growth In June Quarter

Retail payouts of HDFC Bank jumped 202% during the June quarter to Rs 43,600 crore.

Shares in the country’s largest private sector lender, HDFC Bank, surged 1.44 percent to a daily high of Rs 1,501.95 after it reported its loan portfolio during the quarter ended June 2021 or the first quarter of this year. the fiscal year has grown. 14.4% to Rs 11.47 million crores from Rs 10.03 million in the same quarter last year. The loan portfolio of HDFC Bank increased sequentially by 1.3%.

During this period, HDFC Bank’s deposits increased to Rs 13.46 million from Rs 11.89 million in the same period last year, registering an increase of 13.2%, the country’s largest lender said.

The retail loan portfolio grew 9 percent annually, while commercial and rural bank loans grew about 25 percent annually.

Retail payouts by HDFC Bank during the quarter ended June 30 were Rs 43,600 crores, up 202 percent from Rs 14,400 crores in the corresponding period a year ago.

During the quarter ended June 30, 2021, the bank acquired loans totaling Rs 5,489 crores through an outright assignment under a home loan agreement with Housing Development Finance Corporation Limited.

HDFC Bank shares are up 4.53% this year, compared to the 10% gain in Sensex.

As of 13:09, HDFC Bank was trading up 1.2% at INR 1,498 and contributed the most to the rise of 30 Sensex shares.


Source link