HDFC expects 30 per cent growth

HDFC Bank expects a credit growth by over 30 per cent in the current financial year (2007-08), compared to an anticipated credit growth of about 20 to 25 per cent for the banking industry in this period.

According to the bank officials, the retail advances are expected to grow by 30 to 40 per cent during the financial year, 2007-08, due to retail loans.

In 2006-07, HDFC Bank’s branch network grew 40 per cent with around 758 branches across the country. HDFC Bank expects its net interest margin to remain at 3.9 to 4.2 per cent during the remaining quarters of the current fiscal.