HDFC Bank sells 60B INR housing and 90.6B INR car loan portfolios to state-controlled banks to reduce credit load.
HDFC Bank, India's largest bank by market value, has sold a housing loan portfolio valued at 60 billion rupees ($717 million) and a car loan portfolio worth 90.6 billion rupees to state-controlled banks to reduce its credit load. This move addresses regulatory pressures as the bank's credit-deposit ratio worsened, reaching 104% in March. HDFC Bank anticipates a 13% year-on-year deposit growth and an 8% increase in loans in its upcoming earnings report.
September 26, 2024
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