HDFC Bank holds 8.72% market share of private lenders providing loans to MSMEs in Assam

HDFC Bank holds 8.72% market share of private lenders providing loans to MSMEs in Assam

Guwahati, April 8 (KNN) Private sector lender HDFC Bank said it holds an 8.72% market share among private lenders to 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 total advances in the state had increased by more than 12% in the past year and passed the Rs 7,000 crore mark.

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

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

Thanking the customers for the development, Sandeep S Kumar, Head of Banking Branch of HDFC Bank (East) said, “We are delighted to be a partner for growth and boosting economic activities in Assam.

The bank has deposits of Rs 9,085 crore which together with the advances represents a total business of Rs 16,000 crore in the state. (KNN Office)

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