HDFC Bank Ltd.

HDFC Bank, the leading private sector lender is planning to slash lending rates in certain retail products during the upcoming festive season. For the September quarter, bank’s credit growth came in at almost 23% versus the overall banking system’s 16.6% and with this initiative the bank aims continue to outpace the systemic average by a few percentage points.

The bank has posted a rise of 30.07% in its net profit at Rs 1559.98 crore for the quarter ended September 30, 2012 as compared to Rs 1199.35 crore for the same quarter in the previous year. Total income has increased by 24.47% at Rs 9869.77 crore for quarter under review as compared to Rs 7929.38 crore for the quarter ended September 30, 2011.