Mumbai: Private sector lender HDFC Bank on Saturday reported 18.4 pc increase in its net profit to Rs 7,513 crore for the quarter ended in September 2020. The profit was at Rs 6,345 crore last year. Net interest income for the quarter under review increased by 16.7 pc to Rs...
HDFC Bank Launches India’s first Warehouse Commodity Finance App
New Delhi: In an industry first, HDFC Bank today launched a Warehouse Commodity Finance App. This will enable customers in drawing down and managing the loan against pledge of commodities online without physical intervention or multiple visits to a Bank branch. This in turn will bring in enhanced efficiencies and...
HDFC Life Insurance, Yes Bank enter into corporate agency arrangement
HDFC Life Insurance Company Limited has entered into a corporate agency arrangement with Yes Bank, the company announced on Tuesday. The arrangement will enable Yes Bank to sell a range of life insurance products including solutions for protection, savings and investment, retirement and others, to its customers. Life insurance is...
HDFC Bank to file response to US lawsuit by early next year
New Delhi: The Bank expects its response to the lawsuit to be due in early 2021, HDFC Bank said in a regulatory filing. HDFC Bank was clarifying media reports related to filing of class action claims by certain US law firms against the Bank. "In this regard, we wish to...
HDFC Bank launches Video KYC facility
Mumbai: HDFC Bank today announced the launch of Video KYC (Know Your Customer) facility. After successful completion of the pilot project, HDFC Bank has deployed consent-based Video KYC facility as an alternate method of establishing the prospective customer’s identity, during the account opening process in a safe and secure environment....
HDFC Bank and ICICI Bank gain the most in market cap
The market capitalization of seven of the country's top 10 valued companies increased by Rs 67,622.08 crore last week. HDFC Bank and ICICI Bank were the biggest gainers in this. Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd. (HUL), HDFC, Kotak Mahindra Bank, ICICI Bank and ITC were the...
HDFC Bank lending rates cut with effect from 7 August
HDFC Bank cut its marginal-cost based lending rate (MCLR) on loans across tenors by 10 basis points with effect from 7 August 2020, the private lender's website showed. The bank had announced a similar rate cut last month as well. The move comes just a day after the Reserve Bank...
HDFC Bank MD Aditya Puri sold 74.2 lakh shares of bank
New Delhi: HDFC Bank Managing Director (MD) Aditya Puri has sold 74.2 lakh shares of the bank which accounts for around 95 percent of his total shares. The latest exchange data showed that Puri has done the sale of shares between July 21 and 23 last week. As per a...
HDFC Bank reports 19.5% increase in Q1 profit on strong growth in advances
New Delhi: HDFC Bank reported a 19.58 percent in net profit to Rs 6,658.62 crore for the June ended quarter from Rs 5,568.16 crore in the same quarter of the previous year. Net interest income, that is the difference between interest earned and interest expended, grew by 17.8 percent in...
Probe on vehicle-finance lending practices will not cause any loss: HDFC Bank
New Delhi:Private sector lender HDFC Bank on Tuesday said the probe on vehicle-finance lending practices does not have any bearing on loan book and will not cause any loss to the bank. “It is… important to clarify here that this matter is not related in any manner whatsoever to the...