Please Share:: 
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank raises its lending and deposit rates
HDFC Bank has raised its minimum lending rate, or base rate, by 50bp and the
benchmark prime lending rate (BPLR) by 75bp with effect from March 14, 2011. The new
base rate is 8.7% and its BPLR has been revised to 17.25%. This is the second time in less
than a month that HDFC Bank has increased its minimum lending rate. The bank had
raised the base rate by 45bp in the last week of February. With this latest rise, the bank
has increased its base rate by 145bp, since it was introduced in July 2010. The BPLR
increased by 150bp during this period. The bank has also raised interest rates on select
term deposits by 25–100bp. The peak rate on retail term deposits in the 1–3 year tenure
now stands at 9.25%. We maintain Accumulate on the stock with a Target Price of `2,499.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
HDFC Bank raises its lending and deposit rates
HDFC Bank has raised its minimum lending rate, or base rate, by 50bp and the
benchmark prime lending rate (BPLR) by 75bp with effect from March 14, 2011. The new
base rate is 8.7% and its BPLR has been revised to 17.25%. This is the second time in less
than a month that HDFC Bank has increased its minimum lending rate. The bank had
raised the base rate by 45bp in the last week of February. With this latest rise, the bank
has increased its base rate by 145bp, since it was introduced in July 2010. The BPLR
increased by 150bp during this period. The bank has also raised interest rates on select
term deposits by 25–100bp. The peak rate on retail term deposits in the 1–3 year tenure
now stands at 9.25%. We maintain Accumulate on the stock with a Target Price of `2,499.
No comments:
Post a Comment