New Delhi: HDFC Bank unveils plans to raise Rs 60,000 crore through diverse debt instruments, as decided in the recent Board of Directors meeting. The board greenlights the annual renewal of issuance for long-term bonds, perpetual debt instruments, and Tier II capital bonds, totaling the specified amount over the next twelve months via private placement.

However, this initiative is contingent upon shareholder and regulatory approvals. Notably, HDFC Bank’s net profit for the January-March quarter of 2023-24 stands at Rs 16,511 crore, marking a 0.84% increase from the previous quarter. The bank’s financial comparison on a year-on-year basis is impeded due to its merger with parent entity HDFC Ltd.

S&P Global Market Intelligence reports an increase in Indian lenders among the top 50 banks by assets in the Asia-Pacific region, with HDFC Bank ranking 33rd after a 51.3% surge in assets to USD 466.35 billion post-merger. This ascent underscores the robust performance of Indian banks, fueled by improved financial metrics and substantial credit growth amid a thriving economic landscape.