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HDFC Bank's mortgage book grew 18-20% incremently post merger, says senior executive

The lender additionally said its fundamental strategy has been to improve the turnaround time of processing at front end.

February 15, 2024 / 03:39 PM IST


HDFC Bank’s home loan business grew by 18-20 percent on an incremental basis post merger, said Arvind Kapil, Country Head, Mortgage Banking, Home Loan, LAP, HDFC Bank. The country’s largest private sector bank, on February 15 said that it recorded a stable and healthy double-digit year-on-year (YoY) growth post merger till December 31, 2023.

“The lender recorded a 3.6 percent sequential growth as of December 2023 and post merger savings accounts for incremental disbursals have moved to 80 percent from 35 percent,” the bank said in a press release.

In terms of market share, the bank’s market share has grown approximately by 18 percent to 20 percent on incremental disbursals. On a sequential basis, the bank has gained a leading position as it recorded a growth of 3.6 percent which was the highest amongst its peers in home loans.

The lender additionally said its fundamental strategy has been to improve the turnaround time of processing at front end. “Post-merger turnaround time has reduced to almost one third,” the bank said.

The merger

Termed as the biggest transaction in India’s corporate history, HDFC Bank on April 4, 2022 agreed to take over the biggest housing finance company in a deal valued at about $40 billion, creating a financial services titan. As per the plan, HDFC will acquire a 41 percent stake in HDFC Bank through the merger.

HDFC Bank merged with HDFC Ltd on July 1, 2023 to create a combined asset base of around Rs 18 lakh crore.

Moneycontrol News
first published: Feb 15, 2024 03:39 pm

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