The Telegraph
Since 1st March, 1999
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HDFC Bank spotlight on retailing

New Delhi, Sept. 26: HDFC Bank, the second-largest private bank, will focus on retail banking to increase its loan portfolio and boost profitability.

The bank hopes to raise the retail loan portfolio to 50 per cent of total bank advances from the current 27.5 per cent within the next two to three years, managing director Aditya Puri said.

The bank is enhancing its retail loan thrust both in the metros as well as second-rung cities, he added. At present, corporate clients form a major chunk of the bank’s loan portfolio.

The New York Stock Exhange-listed bank said it would report a 25-30 per cent jump in profits and earnings this fiscal.

For the first quarter (April-June) of this fiscal, the bank has posted a 30 per cent rise in net profit at Rs 107 crore while total income rose 28 per cent to Rs 717 crore.

“We will stick to our guidance of 25-30 per cent yearly growth which we would have issued in the beginning of the 2003-04 financial year,” Puri told a news conference but ruled out any fresh acquisitions.

He said: “We would not make an acquisition for the sake of it...there is no discussion with any bank at present and nobody has approached us. Even if we go for an acquisition, it should match the scale, business strategy and philosophy.”

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