HDFC Bank owns 8.72% market share of private lenders offering loans to MSMEs in Assam

Guwahati, April 8 (KNN) Private sector lender HDFC Bank has said that it owns a market share of 8.72 per cent among the private lenders in the Micro, Small and Medium Enterprises (MSME) sector in the North Eastern state of Assam.

Claiming to be the largest private sector bank in Assam, the bank said it’s total advances in the state grew by over 12 per cent in the last year and crossed the Rs 7,000-crore mark.

The lender’s total advances, including all loans to various customers in retail, corporate, MSME and microfinance sectors stood at Rs 7,008 crore as of 31st December, 2021.

Last year its total loans grew by 12.81 per cent from Rs 6,212 crore as of December 31, 2020, the bank revealed.

Thanking the customers on the development, Sandeep S Kumar, HDFC Bank’s branch banking head (East) said, “We are delighted to be a partner of growth and fuelling the economic activities in Assam.”

The bank has deposits of Rs 9,085 crore, which along with the advances adds up to a total business of Rs 16,000 crore in the state. (KNN Bureau)