Mumbai: Backed by strong credit demand mainly in the auto segment, private sector lender, HDFC Bank has disbursed Rs3,000-crore of retail loans in October, its retail banking head said.
The bank, which has a total retail portfolio of Rs60,000-crore, expects to grow its retail loan book “faster than the industry” and has seen a major chunk of its business emerging from non-metros, HDFC Bank, Country Head, Retail assets, Pralay Mondal told reporters here.
“For the full year, our retail credit growth is expected to be a little faster than the industry...The revival in economy and government stimulus have helped reviving the spending power of customers. We expect a pick up in loan growth moving ahead,” Mondal said.
Around 47-50% of the total new incremental advances and 32% deposits of HDFC Bank came from non-metros in October, he said.
In October, the bank disbursed around Rs16,00-crore of auto loans, around Rs500-crore personal loans, around Rs550-crore homeloans and the rest from business banking loans and other portfolios , Mondal said.
The lender, which has a credit card base of 4.5-million and debit-card base of 9-million, saw a 22% rise in card spends over the last month, Mondal said.
HDFC Bank issues around 70,000 new cards every month and has seen non-performing assets in the segment less than 15%, Mondal said.
Nearly 30% of HDFC Bank’s retail asset portfolio is contributed by auto loans, around 16-18% unsecured lending excluding credit cards, 10% business banking and 7-8% commercial vehicle advances amongst others, Mondal said.