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HDFC Bank has sold a housing loan portfolio of about Rs 6,000 crore ($717 million), seeking to further lighten its credit load amid regulatory pressures on the industry.
The portfolio was sold to about half a dozen state-controlled banks through private deals, according to people familiar with the matter, who asked not to be identified as the information is not yet public.
The bank also unloaded another pool of car loans worth about Rs 9,060 crore, securitised in a fixed income product called pass-through certificates, the people said. The lender had been engaged in talks to offload the pool to about a dozen local asset management companies.
The portfolio sales would help HDFC Bank improve its ratio that has worsened in recent years as credit growth outpaced deposits.
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