HDFC Bank’s business growth impressive despite technical glitches and outages


The Reserve Bank of India (RBI) has banned the acquisition of new credit card business at HDFC Bank due to technical glitches and outages in the last 2 years, despite these restrictions, the bank’s business growth has been impressive. HDFC Bank said that in the March quarter, the bank recorded a 14% growth in advances, while the bank’s deposits grew by 16.3%.

By the end of March 2021, HDFC Bank’s advance has reached 11.32 lakh crore as compared to 9.94 lakh crore in the year-ago period. While retail loan growth was 7.5% year-on-year and domestic wholesale loan growth was 21%.

Market experts expect the bank’s results to be strong in Q4 of FY 2021-22. In view of this, brokerage firms have expected the stock of HDFC Bank to rise 26%. Let us tell you that HDFC Bank shares have been flat this year. The bank’s stock has gained only 2% since 1 January 2021.

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