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HDFC Bank has cut its minimum lending rate by 20 basis points, effective today. Speaking to CNBC-TV18, Paresh Sukthankar, Executive Director, HDFC Bank said that any change in base rate will depend on deposit rates, which in turn depends on liquidity.
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Union Bank has cut its lending rates for some segments that is the medium and small enterprises by 50-350 basis points.Debabrata Sarkar, CMD, Union Bank said that it is a part of their endeavour to give special emphasis to agriculture, retail advances, micro and small enterprises.
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Optimistic as ever, Aditya Puri, chief executive officer and managing director of HDFC Bank believes, India's structural story is very much intact if the PM manages to sort out the basic infrastructural concerns.
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In an exclusive interview to CNBC-TV18, Aditya Puri, MD, HDFC Bank says that big ticket reforms are not the need of the hour and adds that the basic problems have to attended to first.
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HDFC Bank says the worst of the liquidity crunch is over and a cut in lending or deposit rates is possible by the latter half of the first quarter.
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Along with the traditional private sector elites like HDFC Bank or ICICI Bank, Kerela-based Federal Bank, of late, has emerged as a darling of the stock market. In the last one year, its shares fell 17.35% as against a drop of 27.40% in the 14-share Bankex, a barometer of banking stocks in the BSE.
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Speaking to CNBC-TV18 in an exclusive interview, Aditya Puri, managing director and chief executive officer of HDFC Bank says that a marginal increase in NPA is a possibility, but it is not alarming. "Margins will most likely remain between 3.9% and 4.3% and we expect credit growth to continue to be around 25-30%," he says.
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The Reserve Bank of India’s governor today has proposed to separate the chairman and managing director or CEO position in PSU banks. Sharing their views and possible reason behind this move to CNBC-TV18, experts KR Kamath, chairman of Punjab National Bank and BD Narang, ex-chairman of Oriental Bank of Commerce read the road ahead.
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Chanda Kochhar, MD & CEO, ICICI Bank sees banking sector growing at a robust pace of 18-20% in coming months despite the slowdown in the economy.
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Following footsteps of the State Bank of India, which raised its rates by 75 bps on May 11, HDFC bank, India’s private sector banking major, has hiked its lending rates by 55 basis points to 9.25%; the rate hike will be effective from May 12.
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Following footsteps of the State Bank of India, which raised its rates by 75 bps, HDFC bank, India’s private sector banking major, hiked its lending rates by 55 basis points. Its short-term deposits rates are at 4-6.75%, reports CNBC-TV18.
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HDFC Bank beat analysts estimates with a fourth quarter (January-March) net profit of Rs 1,114.7 crore, up 33.2% year-on-year, aided by a strong loan-book growth and higher fee-based income. Paresh Sukhtankar, ED, HDFC Bank expects over 20-21% loan growth ahead.
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On Monday, private sector lender HDFC Bank beat analysts estimates by announcing a 33.2% (year-on-year) rise in its net profit for the fourth quarter (January-March) of Fiscal year 2011. Aided by a strong loan-book growth and higher fee-based income, the bank posted a profit of Rs 1,114.7 crore.
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Vice chairman and CEO of HDFC Bank Keki Mistry and chief economist of Kotak Mahindra Bank Indranil Pan, in an interview on CNBC-TV18 debated on what this would mean for the banking industry and home loan borrowers at large.
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Two experts who track the banking space closely are Abhijit Mazumdar, banking analyst of Prabhudas Lilladher and Hemindra Hazari of Karvy Stock Broking who debated on CNBC-TV18 if the Q3 numbers have made a difference.
