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Sluggish retail a drag for pvt banks in Q1
July 21, 2025
|Business Standard
Lenders bet on festival demand and benign interest rates for faster growth
Retail loan growth at private banks was sluggish in the first quarter (Q1) of 2025-26 (FY26), according to banks that have declared their earnings so far.
Five private-sector lenders, including the top three, reported single-digit growth in their retail loan books, dragging down overall loan growth during the quarter. These banks are now pinning their hopes on the upcoming festival season, lower interest rates, and income-tax breaks to revive momentum in retail lending.
HDFC Bank, India's largest private-sector lender, posted 8.1 per cent year-on-year (Y-o-Y) growth in retail advances in Q1FY26 and just 0.3 per cent sequentially. Mortgage loans grew 7 per cent Y-o-Y, while other retail assets rose 9.6 per cent. As a result, the bank's overall advances rose 6.7 per cent Y-o-Y and 0.4 per cent sequentially.
HDFC Bank has earlier said it aims to grow its loan book in line with system-wide credit growth in FY26, and only in 2026-27 will it aim to outpace the system.
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