HDFC bank Proforma numbers released by the private sector lender showed that its advance book saw a year-on-year growth of around 15.4% at the end of September quarter. its total Loan 11.98 lakh crore in aggregate at the end of September, up 4.4% sequentially. Its total debt stood at Rs 10.38 lakh crore at the end of September 2020.
According to the bank’s internal business classification, retail loans grew by about 13% year-on-year during the September quarter and 5.5% in the June quarter. Commercial and rural banking loans grew by about 27.5%, while other wholesale loans grew by about 6%.
HDFC Bank “resumes its retail growth journey” as the economy recovers from the second wave of Covid-19, said Gautam Chhugni, director – financials at the investment management firm Bernstein Research.
“We expect credit mix normalization to be ideal in the coming quarters, with a focus on improving margins and ongoing technological change,” he said and noted that the bank has already focused on issuing new credit cards after the reserve A healthy surge is reported. Bank of India in August lifted the ban imposed in December last year.
Mortgage lender HDFC disbursed loans of Rs 7,132 crore at the end of September quarter, up from Rs 3,026 crore a year ago. It sold loans worth Rs 27,199 crore in the last 12 months, compared to Rs 14,138 crore in the previous year, regulatory filings show.
Private sector lender IndusInd Bank posted better-than-expected credit growth of 10% at the end of September quarter with total loans of Rs 2.2 lakh crore, preliminary numbers filed with stock exchanges showed.
Anand Dama, Senior Research Analyst, Emkay Financial Services, said, “Credit growth indicates strong credit re-acceleration in the retail book. “The bank has been increasing its corporate book since the June quarter and we believe that the bank may see good momentum in the corporate book in the September quarter as well.”
IDFC First Bank reported a growth of 9.75% in advances at Rs 1,17,243 crore for the second quarter ended September.
Leading non-bank lender Bajaj Finance reported that it had booked 6.3 million new loans at the end of September quarter, up from 3.6 million a year ago. Its assets under management (AUM) stood at Rs 1.66 lakh crore for the quarter under review, as against Rs 1.37 lakh crore a year ago.
Non-bank lender Mahindra & Mahindra Financial Services reported a 60% year-on-year growth in disbursements of Rs 6,450 crore at the end of September quarter. With further improvement in dynamics during September, the collection efficiency for NBFCs registered 100% for September 2021.
“Subject to improvement in the auto supply chain, the company expects a good Q3 FY12, supported by festive season and crop cash flows.” M&M Finance said in a statement.
Private lender Yes Bank posted a 3.6% increase in its advances to Rs 1.72 lakh crore, though retail disbursements grew at a faster rate and increased 126.6% over the previous year to Rs 8531 crore as against Rs 3764 crore at the end of September quarter Done. one year ago.