HDFC Bank can double in size every 4 years, but is not intending to become the biggest among all, said Deepak Parekh, Chairman of the HDFC Ltd.
He said, “Our bank is growing very well, we are satisfied with that. We are not planning to be State Bank of India, we are not looking to grow more than we can chew, what we can handle. Yet, we (HDFC Bank) have been growing at 25-30 per cent.”
Asked if this growth rate would persist, Parekh said that he was sure of 20-25% increase in the medium term. He answered in the positive when asked if HDFC Bank saw itself growing twice its size every 4 years.
But at the same time, Parekh stated that he was not in any race to reach the top slot.
HDFC Bank, in which HDFC Ltd has about 23 % stake, is presently India’s 2nd biggest private sector lender after ICICI Bank, while PSU SBI is the biggest of all.
At the end of previous fiscal ended March 31, 2010, HDFC Bank had total assets of Rs 2.2 lakh crore and total business, consisting of deposits and loans was Rs 2.9 lakh crore.
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