Mumbai: HDFC Bank on Saturday reported RS 8,834 crore’s net profit for the end of September 2021, an increase of 17.6% from Rs 7,513 Crore in the quarter in accordance last year.
Bank’s profit rose at the back of a 15.5% loan increase.
Progress rose to nearly RS 12 lakh crore from Rs 10.4 lakh crore in September 2020.
Personal lenders have increased their market share by planting loans with more than double the level of industrial growth.
According to RBI data, bank loans as a whole grew 6.7% year-to-year to September 24, 2021.
This generated bank net interest income increased 12.1% to RS 17,684 crore.
In the past 12 months, banks have increased loans to agriculture and the rural sector in their portfolios.
It has also been planted on loans offered at the time of electronic payment.
HDFC Bank’s net profit rose 17.6% to 8,834 crores
