HDFC Bank loans grow 14% in FY21
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HDFC Bank loans grow 14% in FY21
TNN / Updated: Apr 6, 2021, 09:12 IST
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MUMBAI: HDFC Bank has reported 16.3% growth in deposits and 14% in advances during the year 2020-21. Yes Bank and IndusInd Bank too have reported high deposit growth of 54.7% and 27.7% respectively, indicating a gain in market share after a turbulent fourth quarter in FY20.
Although industry business figures for the banking sector will be known only in the coming weeks, RBI data up to mid-March indicates that banking sector growth in deposits will be below 11% and advances at below 6%.
In a statement to the exchanges, HDFC Bank said that its deposits stood at Rs 13.4 lakh crore at the end of March 2021 — an increase of 5% over the previous quarter and a 16.3% increase for the financial year.