HDFC Bank Limited (NYSE:HDB) Q3 2024 Earnings Call Transcript

Srinivasan Vaidyanathan: Okay. But there are two — again two things I want to respond to. One is the — if you look at us from a market share point of view, we have been gaining market share. Our market share is at about 10.5%, and it continues to grow. On an incremental basis, I think I alluded to our assessment is 18% to 20%. So that’s — we are keeping up with that. Yes, there may be some customers who go. But from our rate offering point of view, we offer — you’re talking about the savings account rate. But on a time savings account rate is what we offer, 3%, 3.5%. On the time deposit, we are more or less in line with the competition, significant peers. If you see, we are more or less in line with that on a time deposit rate point of view.

From a savings account, yes, we do continue to. That doesn’t mean somebody else cannot grow. We are growing. And think about it, still the public sector banks from where all of the private sector banks, including the ones that you alluded to offering 7% or 8% on savings account, those are all in the private segment — private sector segment. And the market share there is coming from some public sector because all the private sector banks are gaining market share.

Operator: Ladies and gentlemen, we will take that as the last question. I would now like to hand the conference over to Mr. Vaidyanathan for closing comments. Over to you, sir.

Srinivasan Vaidyanathan: Okay. Thank you, Nirav. Thank you all for participating. We appreciate you dialing in at this hour. If any more questions, comments or clarifications required, please feel free to reach out to us. Our Investor Relations team would be happy to connect directly to you or with me, and we can have a conversation. Thank you. Bye-bye.

Operator: Thank you very much. On behalf of HDFC Bank Limited, that concludes this conference. Thank you for joining us. You may now disconnect your lines. Thank you.