HDFC expects credit growth in FY14
By Vaibhav Aggarwal
Dec 10, 2012
Print    Email    RSS   

The country's second largest private lender, HDFC Bank Ltd is expecting loan growth in FY14 on the back of higher gross domestic product (GDP) growth.

Mr. Paresh Sukthankar, executive director of HDFC Bank said, "If you do have the economy going back to a six per cent-plus growth rate, the financing needs of a growing economy would be met by the banking system. I see no reason why credit growth won't be somewhere at 16-17 per cent range this year and potentially going up to the higher teens as the GDP growth picks up".

Mr. Sukthankar added, "As we get into the next financial year, there is every chance that we move to a growth rate which is somewhere between 6-6.5 per cent and potentially thereafter somewhere closer to seven per cent".

Rate cut is likely to be done next year probably around 50 basis points, said Mr. Sukthankar.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Some admissible deductions under Income...
Glittering Ways of Investing in Gold
What to look for while taking a personal loan
Plan for your retirement
Loan upper limit increased for women

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive