HDFC Bank has recorded a rise of more than 31.4 per cent in the third quarter year-on-year to Rs 1,430 crore backed by high growth in loans.

Net interest income for the country’s second largest private sector lender increased about 13 per cent Rs 2,945 crore compared to the same period previous year. The rise in net profit was a bit higher than expected rate of 28.5%.

"We have seen higher growth in retail lending segment. This trend would continue for another quarter. However, we will grow almost equally both on retail and corporate sides in the next one/two years," said Paresh Sukthankar, the executive director, HDFC Bank.

The retail given by the bank increased 29 per cent while loans to companies rose 15%, the bank added. The overall loan book for the bank recorded an increase of 22 per cent to around Rs 1.96 lakh crore. Retail loans currently account for more than 51% of the total while corporate loans account for the remaining 49 per cent.

In the period between April 1 and Dec 31, 2011, the incremental loan growth was recorded at around 21% to Rs 35,000 crore.