HDFC Bank has shortlisted veteran Arvind Kapil, its current retail assets head, to spearhead the home loans business post its mega-merger with India’s biggest mortgage financier Housing Development Finance Corp
See business normalisation in 90 days: HDFC Bank retail head
As of December, HDFC Bank’s distribution network included 5,485 branches, and half of these are in semi-urban and rural areas. The lender also has 13,675 business correspondents spread mostly across rural locations.
Synopsis
Such growth targets from Arvind Kapil, the bank’s retail assets head, point to the broader economy’s demand resilience, with the ongoing vaccination drive covering major population centres and helping delink human mobility from future infection risks. That should also help normalcy to return within 60-90 days, Kapil told ET in an interview.
For India’s most valuable lender that has built a full-service financial powerhouse around the retail theme, it is business as usual about a year since the first phase of lockdowns. Collection efficiencies and repayment slip-ups for retail advances are back to pre-Covid levels, giving HDFC Bank the confidence to expand this core borrowing segment in doubl