HDFC, ICICI Bank avoid risky retail loans in Q2
For the July-September 2024 quarter, HDFC Bank and ICICI Bank kept things tight on retail loans, especially unsecured ones.
HDFC's retail loans rose 7.4% to ₹15.55 lakh crore, but they avoided slashing home loan rates and put limits on credit card spending.
ICICI's retail loans grew 6.6% to ₹7.39 lakh crore, with mortgages up nearly 10%, though personal loans dipped a bit.
Both banks are clearly focused on managing risks instead of chasing wild growth.
Both banks reported healthy profits
HDFC Bank's net profit jumped 11% to ₹18,641 crore, thanks to stronger asset quality—bad loans stayed low at just over 1%.
ICICI Bank's profit rose 5% to ₹12,359 crore, and they credited earlier moves to clean up risky lending.
Both banks are confident about their cautious game plan, even as competition heats up in the retail loan space.