Banks Achieve Robust Credit Growth in Q4 Due to Strong Loan Demand


Indian lenders had a strong showing in the latest quarter as they reported robust credit growth due to strong demand for loans. HDFC Bank, one of India’s leading lenders, had impressive figures of a 17% increase in their loan book, taking their total loan book up to ₹16 lakh crore. The bank’s deposits also surged by more than a fifth to reach ₹18.83 lakh crore. The bank’s CASA deposits also grew by 11.3%. In the March quarter, HDFC Bank purchased ₹9,340 crore in loans under the home loan arrangement with Housing Development Finance Corporation (HDFC).

Another leading lender in India, Federal Bank saw their advances increase 20.2% to ₹1.77 lakh crore during the quarter. Their retail credit book showed impressive growth of 18.6% while their wholesale credit book increased 22.2% to bring retail to wholesale ratio at 54:46. Deposits also went up 17.4% from the last year to ₹2.13 lakh crore.

HDFC Bank is a leading private sector bank in India, based in Mumbai and is one of the oldest private banks in the country. It was established in 1994 by Hasmukhbhai Parekh, who believed in transforming banking services and industry standards. HDFC Bank has been recognized for its innovative banking strategies, customer service, and leveraging technology.

Aditya Puri was the Managing Director of HDFC Bank from 1994 until October 2020. He was instrumental in transforming the bank into the leading institution it is today. Under his leadership, HDFC Bank has opened more than 4,800 branches, amassed more than 3,400 ATM machines and grown deposits by more than 70%. In addition, Aditya Puri was recognized by Money Today Magazine as the “Best Banker of the Decade” and was awarded the Lifetime Achievement Award by the Asian Banker.