HDFC assigns 19% higher loans in Q3 ending
HDFC’s third quarter FY23 business update is outstanding because the loans assigned is up 19 percent year on year (YoY), but down 2.8 percent quarter on quarter (QoQ). This is the portion of loan that they assigned to HDFC Bank.
HDFC announced on Tuesday in a business update that it assigned 19 percent higher loans of Rs 8,892 as compared to assigning loans worth Rs 7468 in the corresponding period a year ago. On a quarterly basis it's down 2.8 percent This is the portion of loan that they assigned to HDFC Bank.
Shares of HFDC Bank are at Rs 1,618, down 1.28 percent from the previous close on the BSE.
"All the loans assigned during the quarter ended December 31, 2022, were to HDFC Bank pursuant to the buyback option embedded in the home loan arrangement between the Corporation and HDFC Bank," HDFC Ltd said in a regulatory filling.
The dividend income has declined about 64.5 percent QoQ, which was largely expected because Q2 was a big figure coming in.
Individual loans sold is up about 30.25 percent YoY and about 4 percent sequentially and sale of investment remain zero, as was in the previous quarter as well as in the previous quarter of last year.
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