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Banking Sector Could Hit Double-Digit Growth Next Year, Says HDFC Bank
December 04, 2017
A top official from the private sector HDFC Bank said that with several credit avenues stabilizing and the corporate demand picking up, it’s possible for the banking sector to observe a double-digit growth next year.
Credit growth went above 10% for about a year after falling to under 5% in November 2016. Since then it’s been tough for the industry to bounce back to a double-digit growth mainly because of major disruptions by the demonetization drive and the Goods and Services Tax (GST).
HDFC Bank Deputy Managing Director Paresh Sukthankar said that with the market stabilizing now, the corporate credit demand will move to the banks.
