Bank loan

MSMEs and agriculture sector make up majority of HDFC Bank loan clients in UP

MSMEs and agriculture sector make up majority of HDFC Bank loan clients in UP

Lucknow, April 22 (KNN) HDFC Bank’s major clients in the state of Uttar Pradesh are from micro, small and medium enterprises (MSMEs), agriculture and lending to priority sectors.

The bank’s total advances in UP crossed Rs 65,000 crore, the bank announced on Thursday.

Loans to retail, corporate, MSME and microfinance clients are the various loans that include the total advances offered by the bank in the state.

Claiming to be a market leader in auto and unsecured loans in the state, the bank’s market share of total advances is 8.66%.

From December 2020 to 2021, the bank’s total advances increased by 40% from Rs 48,475 crore to Rs 67,756 crore.

Acknowledging the report, Akhilesh Kumar Roy, Head of Banking Branch – Uttar Pradesh, HDFC Bank said, “We are pleased to be a partner for growth and fueling economic activity in Uttar Pradesh. the 40% growth in advances over the last 12 months – the bank continued to lend even during Covid-19 – to support the economy.”

Additionally, the bank has deposits of Rs 85,760 crore in the state of Uttar Pradesh, which together with the advances add up to a total activity of Rs 1,53,516 crore. (KNN Office)