Jammu Tawi: HDFC Bank, India's largest private sector bank, today shared an update on its Home Loan Business which has witnessed healthy growth post the merger of HDFC Ltd with itself.The Bank's market share has grown approximately by 18 % to 20 % on incremental disbursals, post the merger. It has exhibited robust and consistent higher double-digit, year-on-year growth across its Home Loan Business for the first six months, post the merger. On a sequential basis, the Bank has gained a leading position as it recorded a growth of 3.6% which was the highest amongst its peers in home loans.
“One of the biggest opportunities was to generate CASA and initial signs are encouraging. Pre-merger about 30% to 35% of incremental disbursals were to customers with an HDFC Bank savings account. This has reached about 80% of incremental disbursals, post-merger. The Home Loan Business for the Bank has become both an asset and liability generator and is growing sizeably. This leads to a higher stickiness quotient and a stronger customer connect with the Bank for a longer duration.” says Mr. Arvind Kapil, Country Head – Mortgage Banking, Home Loan, LAP, HDFC Bank.On the operational front, the Bank will convert all erstwhile HDFC Ltd.'s service centres to branches in a phased manner and its entire mortgage team will also become relationship managers. The Bank has already commenced cross selling its products/services. through these servicecentres from February 01, 2024. As a part of enhancing the cross-sell strategy, home loan customers will be able to avail of a wide range of products/services like Consumer Durable Loans, Credit Cards, Wealth Advisory Product, Unsecured Loans and Home Refurbishment Loans. Going forward, cross-sell will be a continuing focus for both existing as well as new customers. The strength of this team is expected to be able to cross-sell at no incremental acquisition cost thanks to digital journeys.
