NEWS & ADVICE : PERSONAL LOAN
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
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Which is better: personal loan or gold loan?
12 point conduct checklist for bank and...
How to decide on a loan for business?
Glittering Ways of Investing in Gold
Manage your loans, avoid recovery agents


What is the outstanding Amount for my personal loan
ho many month balance in My Personal loan
i need my personal loan track statement

NEWS THIS WEEK
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