|Leading private sector bank, HDFC Bank has announced a 19% growth in the quarter ending 30th June 2012. The bank's bottom line for the first quarter of FY13 stood at Rs. 1,002 crore against Rs. 845 crore in the same period a year ago.
During the period, the bank's loan books grew by 23% , a major chunk of it coming from growth in retail sector, which increased by 90%. The bank grew its corporate assets by Rs. 750 crore.
The bank's Vice Chairman and CEO, Mr. Keki Mistry showed positivity in the bank's credit growth outlook and stated , "Though there is a lot of talk of slowdown, we do not see any slowdown." The bank projects a 18-20% loan growth for the current fiscal.
Talking about the capital adequacy, the company stated it has enough Tier I capital (11.8%), and would not be raising fresh capital. The warrants due for conversion in August would raise Rs. 2,750 crore if completed.
The major growth came from Delhi/NCR, Chennai and tier-II cities, however the bank saw a reduced growth in home loans in Mumbai.
New loan disbursals grew by 20% in the first quarter compared to the same period in FY12. The bank also sanctioned 17% more loans during the period.