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HDFC Bank clocking retail mortgage development from April-May

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In September, throughout all our client classes, mortgage and funds, we have been 80-90% near the pre-Covid stage, which is an excellent signal.

HDFC Bank on Wednesday stated regardless of Covid-related challenges, it’s assured of clocking “far better” enterprise on this festive season in comparison with the earlier 12 months, with the lender witnessing month-on-month development in all retail mortgage classes.

“We are very proud to say now we are back to pre-Covid level. People have now started to spend…We are seeing tremendous demands,” Aditya Puri, MD, informed reporters on the launch of the second version of the ‘Festive Treats’.

Parag Rao, nation head – cost enterprise, service provider buying providers and advertising, stated: “While some parts of the economy are probably going through a contraction, in the consumer economy for personal consumption, we have only seen growth happening post April and May. After that, all our retail categories have seen significant month-on-month growth. In September, across all our consumer categories, loan and payments, we were 80-90% close to the pre-Covid level, which is a very good sign.”

Last 12 months, the financial institution had launched ‘Festive Treats’, the place clients may avail themselves of particular offers on varied merchandise – from loans to financial institution accounts. “Festive Treats Two is much bigger than Festive Treats One. This year, we have tied up with all the leading brands. Merchants are actively joining and we have something for them as well,” Puri stated.

Rao stated the inaugural session was a “huge success” for the financial institution, and it expects to do much better this festive season. “We had broken quite a few records in Festive Treats One in personal loan and two-wheeler loans. This year, we expect to grow even more…”

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