HDFC Bank will raise Rs 50,000 crore through bonds, will be used to give affordable home loans

HDFC Bank will raise 50 thousand crores

HDFC Bank also informed about the reappointment of Renu Karnad as non-executive director. Renu to continue as non-executive director on the board of directors for the next five years from September 2022

private sector HDFC bank ,HDFC Bank) said on Saturday that it will raise Rs 50,000 crore by issuing bonds in the next one year. The decision to issue the bond was taken in the meeting of the bank’s board of directors. The amount to be raised will be used in the infrastructure sector (Infra Sector) to provide finance and affordable housing loans to customers (Home Loan) will be done in giving. Along with this, HDFC Bank also informed about the reappointment of Renu Karnad as non-executive director. HDFC Bank today released its results, according to which HDFC Bank’s net profit on a standalone basis has jumped nearly 23 per cent to Rs 10,055.20 crore in the fourth quarter of FY 2021-22.

Bank will raise 50 thousand crore rupees

HDFC Bank said in a regulatory notice that the board has approved the proposal to raise Rs 50,000 crore by issuing bonds in the next one year. After getting the approval of the shareholders, this amount will be raised through private allotment. Along with this, HDFC Bank also informed about the reappointment of Renu Karnad as non-executive director. Renu will continue as non-executive director on the board of directors for the next five years with effect from September 2022. Renu is the Managing Director of HDFC Limited, a housing finance company since 2010. HDFC Bank and HDFC have recently announced merger.

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Bank profit up 23 percent

HDFC Bank today released its results, according to which net profit on a standalone basis jumped nearly 23 per cent to Rs 10,055.20 crore in the fourth quarter of FY 2021-22. This sharp increase in the profit of the bank has been recorded due to the increase in demand for loans in various sectors and the need for financial provision for bad loans. Giving information about its quarterly results to the stock exchanges on Saturday, this largest private sector bank in the country said that after making a provision of Rs 2,989.5 crore for taxes in the January-March 2022 quarter, its net profit has been Rs 10,055.20 crore. This figure is 22.8 percent higher than the same period a year ago. The bank had posted a net profit of Rs 8,186.50 crore in the January-March 2021 quarter.

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