Mumbai: HDFC Bank is looking to double the penetration of credit cards among its customer base over the next three years.

The lender, which is already the country's largest issuer had around 1.06 crore outstanding credit cards as of March this year. This comprises close to 25 per cent of its base of four crore customers.

In March/April next year, HDFC Bank says it will start the process for deciding on a successor to Aditya Puri, its founding managing director and chief executive officer.

The successor will be announced by October 2019, a year prior to Puri stepping down from the charge in October 2020.

Housing Finance Development Corporation (HDFC) is planning to put up to Rs 10 billion in a stressed asset fund for the realty segment.

Implementation from last year of the Real Estate (Regulation and Development) Act is expected to throw up a number of opportunities for the restructuring of real estate entities and to nurse stressed assets.

MUMBAI: In a bid to grow its deposits, HDFC Bank has hiked interest rates on term deposits by up to 100 basis points (1 percentage point). Following the increase, the bank is offering a flat return of 7per cent on all maturities of over one year, while senior citizens can earn up to 7.5 per cent and bulk depositors (Rs 1 crore and above) get even more.

HDFC Bank’s Q4FY18 earnings sustained 20% YoY growth momentum but core operating profit growth was softer—up <25% versus 30% plus over the past couple of quarters. The miss was due to sharp moderation in loan growth (sub-20% YoY); surprising given better market opportunities in corporate segment (PSU fallout). Meanwhile, deposits grew a strong 13% QoQ, which along with capital raising will provide growth runway to the bank.

HDFC Bank share price: After India’s leading private lender HDFC Bank reported record profits for Q4, brokerage firm CLSA has raised HDFC Bank share price target. The bank has reported a 20.27% on-year growth in net profit to Rs 4,799.28 crore, driven by stable asset quality. The bank had posted a net profit of Rs 3990.09 crore for the corresponding quarter last year.

Mumbai: HDFC Bank Ltd on Saturday said its fourth quarter net profit rose 20.28% on the back of higher net interest income and other income.

The bank posted a net profit Rs4,799.28 crore for the three months ended 31 March compared to Rs3,990.09 crore in the year-ago period. Profit was lower than Rs4,858.9 crore estimated by a Bloomberg poll of 22 analysts.

Stocks took a breather today after nine sessions of gains owing to a rush among investors to book profits towards the fag-end amid sustained foreign fund outflows even as global cues were positive.

The BSE Sensex, after resuming higher at 34,443.42, advanced to hit a high of 34,591.81 on buying by domestic institutional investors (DIIs) as well as retail participants.

HDFC Bank on Friday said it plans to raise Rs 500 billion through bonds in the next 12 months to fund business expansion.

The decision to this effect will be taken in the board meeting on April 21, 2018, HDFC Bank said in a regulatory filing.

Largest mortgage player HDFC today upped its lending rates by up to 0.20 per cent, in line with similar moves by commercial banks.

The increase in the Retail Prime Lending Rate (RPLR), on which it benchmarks the Adjustable Rate Home Loans (ARHL), is effective from April 1, an official statement said.

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