HDFC housing loans increase
The HDFC Bank has issued 4199 housing loans for the past six months
to the value of Rs one billion in total.
The bank has issued Rs 406 million housing finances for the first
quarter of this year,HDFC Bank CEO/General Manager Suresh Amerasekera
told Daily News Business.
HDFC Bank being a semi-government bank, expects to issue Rs two
billion for housing loans before December.
The bank needs to concentrate more on making housing finance
convenient for customers.
"The non performing loans (NPL) ratio is 10 percent at the moment and
it is expected to bring the NPL level down to five percent during this
year. Since the interest rates offered by the Commercial banks have come
down, there is a huge demand for housing loans among people," he said.
The demand for housing loans in the Northern and Eastern areas is
increasingly higher as people in those areas have started construction
of their dwellings.
The HDFC Bank has opened a branch in Vavuniya in June and three
branches will be set up in Mannar, Trincomalee and Jaffna.
"We want housing finance to be customer friendly and needs to make
less paper work during the process of getting a loan. People will be
encouraged to get a loan by adhering to these methods," Amerasekera
The bank will not be going for a rights issue as there is no need for
immediate capital requirement.