HDFC Bank disburses Rs 3,000-cr retail loans in Oct

Backed by strong credit demand mainly in the auto segment, private sector lender, HDFC Bank has disbursed Rs 3,000-crore of retail loans in October, its retail banking head said.

The bank, which has a total retail portfolio of Rs 60,000-crore, expects to grow its retail loan book "faster than the industry" and has seen a major chunk of its business emerging from non-metros, HDFC Bank, Country Head, Retail assets, Pralay Mondal told reporters here.

"For the full year, our retail credit growth is expected to be a little faster than the industry...The revival in economy and government stimulus have helped reviving the spending power of customers. We expect a pick up in loan growth moving ahead," Mondal said.

Around 47-50 per cent of the total new incremental advances and 32 per cent deposits of HDFC Bank came from non-metros in October, he said.

In October, the bank disbursed around Rs 1,600-crore of auto loans, around Rs 500-crore personal loans, around Rs 550-crore homeloans and the rest from business banking loans and other portfolios, Mondal said.

The lender, which has a credit card base of 4.5-million and debit-card base of 9-million, saw a 22 per cent rise in card spends over the last month, Mondal said.