HDFC Bank sees double-digit growth in home loan business post merger
10 months, 1 week ago

HDFC Bank sees double-digit growth in home loan business post merger

The Hindu  

HDFC Bank on Thursday said that its home loan business had witnessed healthy double digit growth post merger of HDFC Ltd with itself. “The home loan business experienced stable and healthy double-digit year-on-year growth for two quarters, ending December 31, 2023,” Arvind Kapil, Country Head- Mortgage Banking, Home Loan, LAP & HDFC Sales, HDFC Bank said at a briefing. “Further, savings accounts for incremental disbursals had moved to 80% from 35% earlier, which means a large number home loan customers of HDFC Ltd. have shifted their EMP paying savings accounts from other banks to HDFC Bank. Stating that the bank’s market share in home loans had grown approximately by 18% to 20% on incremental disbursals post the merger, he said the business had exhibited robust and consistent higher double-digit, year-on-year growth for the first six months, post the merger.

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History of this topic

HDFC Bank Hits Milestone With Market Cap Surpassing Rs 14 Trillion
3 weeks, 5 days ago

HDFC Bank Hits Milestone With Market Cap Surpassing Rs 14 Trillion

ABP News  

HDFC Bank, India’s largest private sector lender, achieved a significant milestone as its market capitalisation crossed the Rs 14 trillion mark for the first time during Thursday’s intra-day trading on the BSE. The bank's shares soared to a record high of Rs 1,832.75, gaining 1.2 per cent in intra-day trade. Outperforming the Market Over the past six months, HDFC Bank’s …

HDFC bank sells $717 million of home loans to reduce credit book
2 months, 3 weeks ago

HDFC bank sells $717 million of home loans to reduce credit book

Hindustan Times  

Indian lender HDFC Bank Ltd. has sold a housing loan portfolio of about 60 billion rupees, seeking to further lighten its credit load amid regulatory pressures on the industry. The deals confirm India’s largest bank in market value is intensifying efforts to shrink its retail loan portfolio amid heightened regulatory pressure to improve the sector’s credit-deposit ratios {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} …

HDFC Bank Q1 Results: Profit Surges 35% YoY At Rs 16,175 Crore
5 months ago

HDFC Bank Q1 Results: Profit Surges 35% YoY At Rs 16,175 Crore

ABP News  

HDFC Bank, India's largest private sector lender, announced a 35 per cent year-on-year growth in net profit to Rs 16,175 crore for the quarter ending June 2024, supported by robust net interest income and reduced provisions. However, compared sequentially, the lender's net profit declined by 2 per cent from Rs 16,511.85 crore in Q4FY24, primarily due to slower income growth …

HDB Financial Services: Japan-based MUFG to acquire 20% stake in HDFC Bank’s non-banking arm at close $10 bn valuation
8 months, 1 week ago

HDB Financial Services: Japan-based MUFG to acquire 20% stake in HDFC Bank’s non-banking arm at close $10 bn valuation

Live Mint  

The Bank of Tokyo-Mitsubishi UFJ is getting ready to acquire a 20 per cent stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank, at a valuation of $9-10 billion, according to a report by the Economic Times. HDFC Bank, the country's largest private lender, currently owns around 95 per cent of HDB Financial Services, with the remaining 5 …

HDFC Bank hikes home loan interest rates by 10-15 bps upto 9.8%: Complete details here
8 months, 3 weeks ago

HDFC Bank hikes home loan interest rates by 10-15 bps upto 9.8%: Complete details here

Hindustan Times  

HDFC Bank increased its repo-linked home loan interest rates by 10-15 basis points to a range between 9.05 percent to 9.8 percent in March. Other major private and public sector banks also offer home loans at interest rates ranging from 8.70 per cent to 10.05 per cent. ICICI Bank offers interest rates for home loans with range from 9 per …

Despite a 17% fall in 2024 YTD, Morgan Stanley sees a 49% upside in HDFC Bank
10 months, 1 week ago

Despite a 17% fall in 2024 YTD, Morgan Stanley sees a 49% upside in HDFC Bank

Live Mint  

HDFC Bank share price has been on a downward trend, falling over 15 percent in the last 1 year and almost 17 percent in 2024 YTD. Read here: HDFC Bank announces healthy double-digit growth in home loan business; stock up 2% The lender noted that its fundamental strategy has been to improve the turnaround time of processing at the front …

HDFC Bank holds 95% in HDB Financial. Not for much longer
10 months, 3 weeks ago

HDFC Bank holds 95% in HDB Financial. Not for much longer

Live Mint  

HDFC Bank Ltd plans to sell some of its shareholding in subsidiary HDB Financial Services over some time, two people aware of the matter said on condition of anonymity. HDFC Bank could also consider selling some assets on its loan book to release high-cost borrowings. Additionally, banking system liquidity has dropped from a surplus of ₹9 trillion to a deficit …

HDFC Bank's Home Loan Portfolio Rises To Rs 48,000 Crore In Q2 Post-Merger With HDFC
1 year, 2 months ago

HDFC Bank's Home Loan Portfolio Rises To Rs 48,000 Crore In Q2 Post-Merger With HDFC

ABP News  

HDFC Bank's approved home loans amounting to Rs 48,000 crore during the July-September quarter of the financial year 2023-24. In the second quarter, the bank's retail loan portfolio saw an 85 per cent surge compared to the previous quarter and a significant 111.5 per cent increase over the same period last year. This reflects a 4.9 per cent increase over …

HDFC Bank readies home loan strategy after the merger
1 year, 3 months ago

HDFC Bank readies home loan strategy after the merger

Live Mint  

MUMBAI : Following the merger with Housing Development Finance Corp., HDFC Bank is gearing up for the festival season, eyeing a 20% plus year-on-year growth in home loan disbursals in the three months through September. As a second step, HDFC Bank is in the process of substantially reducing the turnaround time for home loan customers. However, the bank is planning …

HDFC Bank expects 17-18% credit growth this year
1 year, 5 months ago

HDFC Bank expects 17-18% credit growth this year

India TV News  

Country's biggest private sector lender HDFC Bank expects 17-18 per cent loan growth during the current financial year as there is enough credit demand. Effective July 1, the parent mortgage firm HDFC Ltd merged with its subsidiary HDFC Bank making it the second biggest lender after State Bank of India. It is for us to see which one we want …

HDFC Bank enters $100 billion m-cap club, fails to pip TCS as number 2 stock
1 year, 5 months ago

HDFC Bank enters $100 billion m-cap club, fails to pip TCS as number 2 stock

Live Mint  

HDFC Bank, the largest private lender in the country, has achieved a new milestone of entering the $100 billion market-capitalisation club after its reverse merger with its parent HDFC Ltd. However, on the Indian bourses, HDFC Bank still lags behind oil-to-telecom conglomerate Reliance Industries and IT major Tata Consultancy Services, sitting on the third position with a market cap of …

JPMorgan ’overweight’ on HDFC Bank after HDFC twins merger; here’s why
1 year, 5 months ago

JPMorgan ’overweight’ on HDFC Bank after HDFC twins merger; here’s why

Live Mint  

JPMorgan is positive about HDFC Bank stock after the merger of HDFC twins as the global financial firm recently assigned an 'overweight' rating on the stock, pegging the target price at ₹2,000, citing the merger of HDFC with HDFC Bank is positive from a medium-term perspective. Our target price implies 2.6 times FY25 PB/17 times FY25 PE for the parent …

Five changes that will take place after HDFC’s exit from bourses
1 year, 5 months ago

Five changes that will take place after HDFC’s exit from bourses

Live Mint  

Housing Development Finance Corporation merged with its subsidiary HDFC Bank on July 1, 2023, following which shares of HDFC ceased to exist on bourses from Thursday, July 13. Shrey Jain, Founder and CEO of SAS Online - India's Deep Discount Broker pointed out that following its merger of HDFC and HDFC Bank, the latter's weightage in the Nifty50 has surged …

HDFC Bank’s Q1 is healthy; merger synergies to ease margin pressure
1 year, 5 months ago

HDFC Bank’s Q1 is healthy; merger synergies to ease margin pressure

Live Mint  

HDFC Bank Ltd’s business update or the June quarter indicates a healthy year-on-year loan growth of 15.8% to ₹16.15 trillion, mostly driven by its retail loan book, which rose by 20% y-o-y. However, sequential growth was just 0.7%, suggesting that HDFC’s slower loan book growth during the quarter might be the cause. “The NIM is expected to be under pressure …

HDFC Merger: A Gamechanger For NBFCs And Borrowers? Here's All You Need To Know
1 year, 5 months ago

HDFC Merger: A Gamechanger For NBFCs And Borrowers? Here's All You Need To Know

ABP News  

By Ashish Kukreja India's biggest private lender, HDFC Bank, has merged with the largest mortgage lender, Housing Development Finance Corporation. At the end of the financial year 2022, HDFC Ltd had a loan book of Rs 5.68 lakh crore, while HDFC Bank had a loan book of Rs 13.69 lakh crore. During the Monetary Policy Committee meeting, RBI Governor Shaktikanta …

HDFC Bank completes merger formalities, rebrands HDFC Ltd. offices, branches
1 year, 5 months ago

HDFC Bank completes merger formalities, rebrands HDFC Ltd. offices, branches

The Hindu  

HDFC Bank Ltd., on July 1, said that the Composite Scheme of Amalgamation for the merger of HDFC Investments Limited and HDFC Holdings Limited, the wholly-owned subsidiaries of the Housing Development Finance Corporation Limited with and into HDFC Limited; and HDFC Limited, with and into HDFC Bank Limited has become effective from July 1, 2023 with the all the entities …

HDFC-HDFC Bank Merger: How Will It Impact Customers?
1 year, 5 months ago

HDFC-HDFC Bank Merger: How Will It Impact Customers?

News 18  

The HDFC-HDFC Bank merger, which has become effective from Saturday, July 1, is termed as the biggest transaction in the history of India Inc. HDFC-HDFC Bank Merger: Impact On Home Loan Account Number After the merger, your home loan account number will not be impacted and will remain the same. HDFC-HDFC Bank Merger: Impact On HDFC Ltd’s Loan Portal And …

HDFC Bank-HDFC Merger: Check Combined Size, Profit, Weightage On Stock Indices, Headcount
1 year, 5 months ago

HDFC Bank-HDFC Merger: Check Combined Size, Profit, Weightage On Stock Indices, Headcount

News 18  

The boards of directors of HDFC Bank and HDFC have cleared the proposal of their merger. Here’s the combined company’s size, profit, employee count, and weightage on stock indices: HDFC Bank-HDFC Merger: Market Valuation The merger of HDFC Bank and HDFC creates a lender that ranks fourth in terms of equity market capitalisation in the world, behind JP Morgan Chase …

HDFC Bank HDFC merger: What this twins merger mean for Indian stock market?
1 year, 5 months ago

HDFC Bank HDFC merger: What this twins merger mean for Indian stock market?

Live Mint  

HDFC Bank HDFC merger: Following the reverse merger, Housing Development Finance Corporation Ltd. is going to merge with its subsidiary HDFC Bank on 1st July 2023. Hence, trading window in HDFC Ltd will remain closed from Monday next week and it will remained closed till HDFC Bank HDFC merger record date, which is fixed on 13th July 2023. To understand …

HDFC to merge with HDFC Bank today, biggest transaction in history of India Inc
1 year, 5 months ago

HDFC to merge with HDFC Bank today, biggest transaction in history of India Inc

Deccan Chronicle  

New Delhi: Housing finance major HDFC will merge with its subsidiary HDFC Bank on Saturday as their respective boards have cleared the proposal on Friday. The board has fixed July 12, 2023, for the transfer of non-convertible debentures while July 7 for the transfer of commercial papers of HDFC Ltd in the name of HDFC Bank. Termed as the biggest …

HDFC Ltd, HDFC Bank Ltd. boards approve merger
1 year, 5 months ago

HDFC Ltd, HDFC Bank Ltd. boards approve merger

The Hindu  

HDFC Bank Ltd. on Friday announced the completion of merger of Housing Development Finance Corporation Ltd. with itself, following the receipt of all requisite shareholder and regulatory approvals. Pursuant to the share exchange ratio as per the merger scheme, HDFC Bank will issue and allot to eligible shareholders 42 new equity shares of the face value of ₹ 1 each, …

HDFC-HDFC Bank Merger: New Entity To Become World's 4th Largest Bank
1 year, 5 months ago

HDFC-HDFC Bank Merger: New Entity To Become World's 4th Largest Bank

News 18  

The merger of HDFC Bank and HDFC will lead to the creation of one of the most valuable banks in the world. Valued at $172 billion, the merged entity will be the fourth biggest bank in the world after JPMorgan Chase, Industrial and Commercial Bank of China, and Bank of America, according to the report. Termed as the biggest transaction …

HDFC Bank-HDFC merger in effect from July 1, to become one of world's most valuable banks
1 year, 5 months ago

HDFC Bank-HDFC merger in effect from July 1, to become one of world's most valuable banks

India TV News  

HDFC Bank-HDFC merger: The merger of the HDFC Bank and the Housing Development Finance Corp will be completed on July 1, making HDFC Bank one of the world's most valuable banks. According to HDFC Group Chairman Deepak Parekh, the boards of HDFC Bank and HDFC will schedule a meeting on June 30 after market hours. If a customer wants to …

HDFC denies Deepak Parekh’s comments on effective date of July 1 for merger
1 year, 5 months ago

HDFC denies Deepak Parekh’s comments on effective date of July 1 for merger

Live Mint  

HDFC Bank-HDFC merger: NBFC giant HDFC on Tuesday clarified on media reports about the tentative dates for the completion of its merger with HDFC Bank. Many media reports took rounds referring to the press interaction of HDFC's chairman Deepak Parekh wherein the tentative effective date of the scheme was said as July 1, 2023, and the tentative 'record date' for …

All HDFC stocks closed higher, following the announcement of the merger
1 year, 5 months ago

All HDFC stocks closed higher, following the announcement of the merger

Live Mint  

HDFC Bank shares closed at ₹1,658.00, up 1.38% from the previous day's close. following Deepak Parekh, chairman of HDFC, announcing that the merger of HDFC and HDFC Bank would take place on July 1 onwards. This buying sentinements improved for other banking stocks also, and the Bank Nifty rose 1.2% as a result, following the announcement of the merger of …

Merger of HDFC with HDFC Bank effective from July 1, says Deepak Parekh
1 year, 5 months ago

Merger of HDFC with HDFC Bank effective from July 1, says Deepak Parekh

The Hindu  

The merger of housing finance major HDFC with the country's largest private lender HDFC Bank will be effective from July 1, HDFC Chairman Deepak Parekh said on June 27. The boards of HDFC and the private bank will meet on June 30 post to clear and approve the merger, Mr. Parekh told reporters in Mumbai. The merger of the corporation …

HDFC Bank to keep home loans as focus of growth strategy post merger
1 year, 6 months ago

HDFC Bank to keep home loans as focus of growth strategy post merger

The Hindu  

HDFC Bank Ltd. will keep home loans at the centre of its growth strategy after a merger with HDFC Ltd. is concluded, with such credit likely to make up nearly a third of the bank's portfolio going forward, two senior officials at the group said. The pace of growth in home loans will broadly mirror growth seen in HDFC's home …

How much funds outflow will HDFC Bank-HDFC merged entity see after MSCI plan
1 year, 7 months ago

How much funds outflow will HDFC Bank-HDFC merged entity see after MSCI plan

Live Mint  

The concern in HDFC Bank and HDFC is unlikely to end any time soon. New York-based global indexes services provider, MSCI earlier this week announced to add HDFC Bank merged entity in the large-cap segment of its Global Standard Indexes with a weightage of 6.5%. The latest MSCI report has escalated fears of certain lumpsum foreign funds outflow in the …

HDFC Bank to merge with HDFC Ltd; how it will affect borrowers
1 year, 7 months ago

HDFC Bank to merge with HDFC Ltd; how it will affect borrowers

Firstpost  

India’s largest private sector bank, HDFC Bank Ltd is all set to merge with its parent mortgage lender HDFC Ltd in the coming months. In a report published by The Economic Times, it can be expected that the merging will largely impact the borrowers of HDFC Ltd while HDFC Bank customers will be hardly affected. How will the merging of …

HDFC beats Q4 profit estimates on strong home loan demand
1 year, 7 months ago

HDFC beats Q4 profit estimates on strong home loan demand

Hindustan Times  

India's largest mortgage lender Housing Development Finance Corporation Ltd reported a bigger-than-expected 19.6% rise in fourth-quarter profit, boosted by strong demand for loans. HDFC said profit after tax rose to 44.26 billion rupees for the three months ended March 31, from 37 billion rupees a year earlier. The lender said it provided individual loans worth 93.40 billion rupees during the …

HDFC Bank likely to see steady Q4 results; PAT, NII may post double-digit growth
1 year, 8 months ago

HDFC Bank likely to see steady Q4 results; PAT, NII may post double-digit growth

Live Mint  

The next major Q4 earnings will be of the largest private sector lender HDFC Bank on Saturday. HDFC Bank is expected to post double-digit growth in both net interest income and net profit year-on-year. In its Q4 preview report, ICICI Direct on HDFC Bank said, "Expect NII growth at 21% YoY to ₹22,958 crore even though moderation is seen in …

HDFC Bank advances and deposits grow 19% for December quarter
1 year, 11 months ago

HDFC Bank advances and deposits grow 19% for December quarter

Live Mint  

HDFC Bank's advances grew 19.5 % to ₹15,070 billion as on December 31, 2022 versus ₹12,609 billion as on December 31, 2021; and a QoQ growth on around 1.8 % over ₹14,799 billion as on September 30, 2022. “As per the Bank's internal business classification, domestic retail loans grew by around 21.5% over December 31, 2021 and around 5.0% over …

Merger With Home Loan Major HDFC To Take 8-10 Months More: HDFC Bank
2 years ago

Merger With Home Loan Major HDFC To Take 8-10 Months More: HDFC Bank

ABP News  

HDFC Bank expects to amalgamate its home loan major parent HDFC into itself by September next year, a top official said on Friday. "We believe going by the past practice and going by past trends, it will take about 8-10 months time before an effective date is announced," HDFC Bank's chief executive and managing director Sashidharan Jagdishan said at the …

HDFC Q2 PAT rises by 18% yoy to ₹4,454 cr, beats estimates
2 years, 1 month ago

HDFC Q2 PAT rises by 18% yoy to ₹4,454 cr, beats estimates

Live Mint  

NBFC-giant HDFC garnered a net profit of ₹4,454. However, according to HDFC's financial audit report, the PAT in Q2FY23 stood around ₹5,414 crore compared to ₹ 4,671 crore in the corresponding quarter of the previous year. As of September 30, 2022, HDFC's assets under management came in at ₹6,90,284 crore as against ₹ 5,97,339 crore in the previous year. Meanwhile, …

HDFC-HDFC Bank Merger: NCLT Approves Shareholders' Meet
2 years, 2 months ago

HDFC-HDFC Bank Merger: NCLT Approves Shareholders' Meet

News 18  

The National Company Law Tribunal has given its nod for holding a shareholders’ meeting for obtaining approval for the proposed merger of HDFC with HDFC Bank. HDFC Ltd has also received approval from the Securities and Exchange Board of India for transfer of HDFC Property Ventures Limited, a wholly-owned subsidiary, to HDFC Bank. Termed as the biggest transaction in India’s …

HDFC Bank to consider IPOs for HDFC Sec, HDB Financial Services after merger
2 years, 5 months ago

HDFC Bank to consider IPOs for HDFC Sec, HDB Financial Services after merger

Live Mint  

HDFC Bank will only consider a public listing of its brokerage and non-bank finance company subsidiaries after the completion of its merger with parent HDFC Ltd, CEO and managing director Sashidhar Jagdishan stated on July 16. In response to questions from shareholders at the 28th annual general meeting of the largest private sector lender, Jagdishan stated that the merger process …

HDFC-HDFC Bank merger gets a thumbs up from stock exchanges
2 years, 5 months ago

HDFC-HDFC Bank merger gets a thumbs up from stock exchanges

Live Mint  

HDFC Bank and parent HDFC inched closer to the merger process as stock exchanges give thumbs up to their amalgamation scheme. In their separate regulatory filing, HDFC Bank and HDFC said, "The Scheme remains subject to various statutory and regulatory approvals inter alia including approvals from the Competition Commission of India, Reserve Bank of India, the National Company Law Tribunal, …

HDFC Bank to double network in 3-5 yrs, to open up to 2,000 branches per year
2 years, 6 months ago

HDFC Bank to double network in 3-5 yrs, to open up to 2,000 branches per year

Live Mint  

HDFC Bank MD and CEO, Sashidhar Jagdishan said the proposed merger with HDFC is an opportunity that the bank cannot afford to miss. Talking about the merger with HDFC, the HDFC Bank CEO said, "We look forward to the phenomenal set of talent, deep product knowledge and expertise, the processes, and systems that HDFC Ltd will add to the Bank’s …

HDFC Bank to launch new payments platform under Digital 2.0 in next few quarters
2 years, 6 months ago

HDFC Bank to launch new payments platform under Digital 2.0 in next few quarters

Live Mint  

HDFC Bank is planning to launch its products and services including a new payments platform under Digital 2.0 in the next few quarters. The bank is partnering with a new-age start-up for moving out from its existing core banking platform and to co-create new core banking modules. Going forward, the CEO said, "In the next few quarters, we will launch …

HDFC Bank, HDFC Stocks Slump Post Merger News; Brokerages See Robust Growth, Should You Buy?
2 years, 8 months ago

HDFC Bank, HDFC Stocks Slump Post Merger News; Brokerages See Robust Growth, Should You Buy?

News 18  

HDFC and HDFC Bank fell sharply for the third straight day after the announcement of merger deals. “The proposed transaction would create meaningful value for various stakeholders including respective shareholders, customers, employees, as the combined business would benefit from increased scale, comprehensive product offering, balance sheet resiliency and the ability to drive synergies across revenue opportunities, operating efficiencies and underwriting …

HDFC Bank, HDFC Ltd announce merger | What this means for customers, shareholders
2 years, 8 months ago

HDFC Bank, HDFC Ltd announce merger | What this means for customers, shareholders

India Today  

HDFC Bank, India's largest private lender, will merge with the country's largest housing finance company, Housing Development Finance Corporation or HDFC Ltd to create a financial services conglomerate, the companies said on Monday. HDFC, HDFC BANK MERGER As part of the deal, shareholders of HDFC Ltd will receive 42 shares of the bank for 25 shares held. Closing is expected …

HDFC Bank, HDFC Ltd share prices soar after merger announcement | Check latest
2 years, 8 months ago

HDFC Bank, HDFC Ltd share prices soar after merger announcement | Check latest

India Today  

HDFC Bank's share price jumped 10 per cent, while Housing Development Finance Corporation Ltd or HDFC Ltd share price soared 13 per cent in early morning trade on Monday. HDFC BANK SHARE PRICE HDFC Bank's share price on BSE is up by over 13 per cent to Rs 1712.45. You can check real-time share price at https://www.bseindia.com/stock-share-price/hdfc-bank-ltd/hdfcbank/500180/ HDFC LTD SHARE …

HDFC Bank Deposit Grows 16.8%, Advances Up 20.8% in Mar quarter
2 years, 8 months ago

HDFC Bank Deposit Grows 16.8%, Advances Up 20.8% in Mar quarter

News 18  

HDFC Bank on Sunday said its deposits have risen 16.8 per cent y-o-y to Rs 15.59 lakh crore and advances have witnessed a 20.85 per cent jump year-on-year to Rs 13.69 lakh crore in the March 2022 quarter. Sequentially, deposits during the March 2022 quarter have registered a growth of 7.82 per cent, highest in 12 quarters, compared with Rs …

For HDFC, the best days are still ahead
3 years, 1 month ago

For HDFC, the best days are still ahead

Live Mint  

Housing Development Finance Corp. Ltd’s September quarter performance ticked all the boxes for investors. At the end of September quarter, the lender held provisions worth ₹13,340 crore, far higher than the ₹6,605 crore that regulatory rules would have required it to have, the company said in a statement. For the September quarter, HDFC reported healthy assets under management growth of …

HDFC rides the coat tails of the real estate recovery
3 years, 3 months ago

HDFC rides the coat tails of the real estate recovery

Live Mint  

The festival season is here and real estate firms are back with gusto, launching new projects in metros. In this context, Housing Development Finance Corp. Ltd is set to see a boost in loan growth in the current and the coming quarters. As such, India’s largest non-bank home loan financier had indicated that disbursements will rise once the curbs imposed …

HDFC Bank reports 14% increase in Q1 net, performance hit by second COVID-19 wave
3 years, 5 months ago

HDFC Bank reports 14% increase in Q1 net, performance hit by second COVID-19 wave

The Hindu  

HDFC Bank’s consolidated net profit for the June quarter increased 14% to ₹7,922 crore, but the largest private sector lender reported reverses because of the second wave of the pandemic which compressed its growth. Its core net interest income grew 8.57% to ₹17,009 crore on advances growth of 14.4% and the net interest margin coming at 4.1%, while the other …

HDFC Bank aims 10-fold growth in merchant segment in 3 years to 20 million
4 years, 2 months ago

HDFC Bank aims 10-fold growth in merchant segment in 3 years to 20 million

Live Mint  

HDFC Bank is targeting a ten-time increase in the number of small merchants it serves to 20 million in the next three years, sources at the largest private sector lender have said. The bank started targeting merchants about 18 months ago with solutions on accepting payments, providing value-added services like creating a simple website for them, taking care of their …

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