Guwahati: HDFC Bank on Thursday said its total advances in Assam grew by over 12 per cent in the last year and crossed the Rs 7,000-crore mark.

As of December 31, 2021, the lender’s total advances, including all loans to various customers in retail, corporate, MSME and microfinance sectors, in the northeastern state stood at Rs 7,008 crore.

The bank’s total loans grew by 12.81 per cent in the last year from Rs 6,212 crore as of December 31, 2020, it said in a statement.

The lender claimed that it is the largest private sector bank in Assam with a 7.54 per cent market share in the total advances. It also has a market share of 8.72 per cent among the private lenders in the priority MSME sector.

Commenting on the development, HDFC Bank’s branch banking head (east) Sandeep S Kumar said, “We are grateful to our customers for giving us the opportunity to serve the people of Assam. We are happy to be a partner of growth and fuelling the economic activities in Assam.”

The bank has deposits of Rs 9,085 crore, which along with the advances adds up to a total business of Rs 16,000 crore in the state.

Its market share in the total business is 5.93 per cent, the statement added.

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