MUMBAI - HDFC Bank, one of India's leading private sector banks, reported a robust increase in consolidated net profit for the October-December quarter. The bank is also gearing up for the initial public offering (IPO) of its non-deposit, non-banking financial company (NBFC) subsidiary, HDB Financial Services (HDBFSL), by September 2025.
HDBFSL has shown a significant surge in its performance, with its loan book expanding to ₹840 billion. The company also posted a healthy profit after tax of ₹6.4 billion for the quarter that ended in December 2023. This growth comes as a positive indicator for HDFC Bank, which holds a substantial stake in HDBFSL.
In line with its growth strategy, HDFC Bank is set to expand its physical presence across the country. The bank has plans to increase its branch network substantially, aiming to grow from over 8,091 branches to more than 13,000 within the next five years. This expansion is expected to help HDFC Bank extend its reach and services to a larger customer base, supporting its growth trajectory in the highly competitive Indian banking sector.
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