Synopsis
The bank increased its corporate loans by more than 10% year-on-year in the April-June quarter to about Rs 3.15 lakh crore. The majority of wholesale-banking advances comprise working capital loans. About four years ago, the book size was at about Rs 1 lakh crore for credit extended to corporates.
India’s most valuable bank is increasingly leaning toward companies – and for good reason. A franchise built around individual consumption and de-risking is now beginning to push credit to deleveraged corporates, with Covid-induced job losses and wage cuts raising the risk perception of the retail business at HDFC Bank.
“Corporate loans will likely grow selectively,” said Kaizad Bharucha, Executive Director, HDFC Bank. “The second wave has not
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