Banks & NBFCs Mixed Performance in Q1
Banks and non-bank lenders showed mixed performance in their loan and deposit growth numbers at the end of quarter ended June 30. Bajaj Finance, the non-banking lender witnessed tepid growth with assets under management (AUM) rising only 7% on a year on year basis.
Indusland Bank reported a tepid growth in both advances and deposits. The bank said its credit grew nearly 4% and ended the June quarter with a loan book of nearly Rs 2 lakh crore. On a sequential basis the lenders book showed a de-growth.
Private lender Bandhan Bank reported healthy loan and deposit growth for the June quarter. The lender registered a 18% growth in loans and 35% growth in deposits. It’s also said its collection efficiencies had improved significantly leading to a fall in moratorium levels. Collection efficiencies improved to 70% as on July 3.
Likewise, HDFC Bank was not beaten down by the coronavirus blues its numbers showed. The bank considered the gold standard in Indian banking reported a loan growth rate of 21% amid the lockdown for the quarter ended June 30. The bank’s loan book expanded to Rs 10 lakh crore at the end of the quarter from Rs 8.3 lakh crore in the year-ago period.