The Mumbai-headquartered lender’s country head for consumer finance Parag Rao said changes in lifestyle due to aspects like lockdowns and work from home has created additional demand for items such as television sets, laptops, Wi-Fi routers and even vacuum cleaners, which the bank is funding at present.
How significant will be the asset quality shock? We don’t have enough data to form an opinion yet. The bank has admitted that COVID-19 has already taken a toll on the retail loan book. “The continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use […]
India’s largest private lender HDFC Bank has reported a 19.6 percent year-on-year growth in standalone profit for the quarter ended June 2020, led by lower tax cost and NII. However, elevated provisions, and lower other income due to slowdown in economic activity limited profit growth.
In a statement, HDFC Bank spokesperson clarified that the value of around Rs 840 crore mentioned in media reports is the value of the shares at current price. “These shares were allotted to Puri at different times and at different price points (not at par). Therefore, the net amount realised by Puri is not Rs 840 crore. […]
HDFC Bank chief executive and managing director Aditya Puri has sold shares worth ₹842.87 crore of the private lender last week, according to regulatory filings. The share sale, which was executed between July 21 and 23, brought down Puri’s holding in the most valued Indian lender to just 0.01% from the earlier 0.14%.
Jagdishan is currently the Group Head of Finance, Human Resources, Legal & Secretarial, Administration, Infrastructure, Corporate Communications, and Corporate Social Responsibility. He has completed his graduation in Science with a specialisation in physics, and is a Chartered Accountant. He also holds a Master’s degree in Economics of Money, Banking & Finance from the University of […]
“He has played a critical role in supporting the growth trajectory of the bank. He has led the finance function and played a pivotal role in aligning the organisation in achieving the strategic objectives over the years,” the bank’s website said.
“The liquidity crisis in the fixed-income part of the MF industry is a first-of-its-kind that has brought to the fore a new risk in the eyes of a prudential lender. The lender is now looking at what can go wrong and is trying to minimise losses,” says Sunil Subramaniam, managing director, Sundaram MF. He says […]
Mumbai: As Indian lenders rewire their branch banking services in favour of digital alternatives during the lockdown, WhatsApp is sensing an opportunity in its biggest market to capture a new user segment — retail banking. The Facebook-owned social media giant has ramped up existing partnerships with some of the biggest names in Indian banking — […]
Mumbai: As Indian lenders rewire their branch banking services in favour of digital alternatives during the lockdown, WhatsApp is sensing an opportunity in its biggest market to capture a new user segment – retail banking. The Facebook-owned messaging platform has ramped up existing partnerships with some of the biggest names in Indian banking – HDFC […]