HDFC Bank on Thursday said it has raised Rs 6,700 crore by issuing bonds via private placement.

"The bank has issued and allotted on September 21, 2016 on a private placement basis, senior, unsecured, redeemable, long term, non-convertible bonds in the nature of debentures amounting to Rs 6,700 crore," HDFC Bank said in a regulatory filing.

Banking stocks continued to gain ground on Wednesday, with the Nifty Bank index hitting a high of 20,575.80 in intra-day deals on the National Stock Exchange (NSE). Top gainers include Federal Bank, IndusInd Bank, Bank of India, HDFC Bank, State Bank of India (SBI) and Axis Bank that hit their respective 52-week high levels.

Nifty PSU Bank index was the largest gainer among sectoral indices, up 0.7% at 10am. By comparison, the benchmark index, the Nifty 50 was trading 0.1% lower at 8,930 levels.

HDFC Bank expects economic growth in the country to slow down marginally to 7.6% in April - June quarter, compared to the 7.9% growth posted in the same period last year.

In terms of gross value added (GVA) calculation, HDFC Bank said it has pencilled a growth of 7.2% compared to 7.4% in the year-ago period.

Mumbai: HDFC Bank Ltd, an Indian lender whose earnings have risen by at least 20% every year since 1998, is seeking to bolster its share of the nation’s corporate-loan market as surging bad debts hold back rivals.

The lowest nonperforming-loan ratio among the biggest Indian lenders and the highest market capitalization is allowing HDFC Bank to invest in operations and extend more credit, as counterparts including State Bank of India and ICICI Bank Ltd combat soured debt.

MUMBAI: Retail loans may have been a safe haven for banks, battered by mounting corporate bad loans, but the latest earnings posted by some of the largest private sector banks reveal that the unsecured portion of such loans are growing at a blistering pace, raising the possibility of defaults.

HDFC Bank, India's most valuable lender, grew its personal loan book by 41 per cent at Rs 41,000 crore, and the bank's credit card business grew 26 per cent to Rs 21,000 crore.

Mumbai, July 21: HDFC Bank, the country's second-largest private sector lender, today met analysts' estimates when it reported a 20 per cent growth in its June-quarter net profit, buoyed by a strong growth in its core income.

The lender's net profit during the quarter stood at Rs 3,238.91 crore compared with Rs 2,695.72 crore a year ago.

HDFC Bank on Thursday reported 20 per cent rise in net profit at Rs 3,238.91 crore for the quarter ended June 30, 2016 against Rs 2,695.72 crore in the corresponding quarter a year ago, which is in line with expectations.

Net interest income of HDFC Bank jumped 21.80 per cent yoy to Rs 7781.44 crore during the quarter under review against Rs 6388.77 crore in the corresponding quarter last year.

HDFC pack including Housing Development Finance Corporation, HDFC Bank and Gruh Finance shares hit their fresh 52-week high of Rs 1,386.40, Rs 1,238.50 and Rs 306.40, respectively, on Monday despite benchmark indices ended the day in red. Gruh Finance is a subsidiary of HDFC.

In the National Stock Exchange, Hero MotoCorp, Indian Oil Corporation, Hindalco Industries, Godrej Industries, Finolex Cables, Lakshmi Vilas Bank, LIC Housing Finance and Kesoram Industries stood among the 72 stocks which hit their fresh 52-week high on Monday.

The combined profit of the top five public sector banks (PSBs) and top three private sector banks is expected to have fallen by 22.9% (Y-o-Y) to Rs 10,882 crore in the first quarter of the current fiscal, aggregate estimates by three leading brokerages indicate.

Estimates by HSBC Global Research, Kotak Institutional Equities and Motilal Oswal suggest that the primary reason behind this decline would be the combined profits of the five PSBs – State Bank of India (SBI), Bank of Baroda (BoB), Punjab National Bank (PNB), Union Bank of India (UBI) and Canara Bank – dropping by almost 50% from their corresponding figures in the same quarter last year.

Shares of three private sector banks – HDFC Bank, IndusInd Bank and YES Bank – have hit their respective lifetime highs on expectation of robust earnings for the first quarter (April –June) of the current financial year 2016-17.

YES Bank (up 2.5% at Rs 1,147), HDFC Bank (2% at Rs 1,196) and IndusInd Bank (up 1.8% at Rs 1,147) were up more than 1% each, touching their respective record highs on the BSE in intra-day trade. At 10:24 AM, the S&P BSE Sensex was up 1.7% or 472 points at 27,598.

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