Last updated: 08 Jan, 2021 | 10:10 am
HDFC Bank has shown a stable growth in its business in the Oct-Dec 20 period. Here are a few highlights:
Despite the effects of the pandemic, the bank maintained a healthy deposit and advances growth rate. This was mainly due to a festive pick-up and continued momentum in working capital corporate loans. In the previous quarter, HDFC Bank said that the pandemic has led to decrease in loan originations, the sale of third-party products, and the use of credit and debit cards by customers. The pandemic has also affected the bank's collection efforts.While the management has not provided any update on recent asset quality behavior, HDFC Bank’s asset quality is expected to improve further in the quarter. This will be keenly monitored when the bank reports its quarterly results within the next two weeks.