HDFC sees State Bank of India, Axis Bank and ICICI Bank as its biggest competitor.
“In reality we could have gained a bit of market share but our competition over the years have been banks like State Bank of India, ICICI Bank, Axis Bank, said Keki Mistry, vice chairman and CEO of HDFC, after the company posted a 24 percent growth in the bottomline this quarter.
The company's interest expenses have risen a massive 20 percent from last year and 10 percent from last quarter.
Mistry said that the individual loan book on even basis was higher by 18 percent and the overall loan book was higher by 17 percent.
He further said that an average industry loan book growth has been around 15 percent.
Talking about housing demand, Mistry said, “The growth in housing has been strong and the structural demand for housing in India will always remain strong.”
On business front, he said, “I would focus more on spreads than on net interest margins (NIMs).” According to him, spreads have remained in a range of 2.2-2.35 percent in the last 10-15 years.