SBI and HDFC Dominate the Housing Finance Market

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State Bank India, the country’s largest lender has equaled the HDFC’s share in the domestic housing finance market share. A recent ICRA report on ‘Performance review of housing finance companies and Indian mortgage finance market for 2009-10’ stated that both SBI and HDFC had 17 percent market share each as on March 2010.

The report further stated that ICICI Bank had 13% share in housing finance. LIC housing finance and IDBI Group are stated to have 8% and 4%, respectively. Big players like HDFC (along with HDFC Bank), State Bank of India, ICICI Bank (along with ICICI Home Finance,) and LIC Housing Finance (LIC HFL) together accounted for 55 percent of the total housing credit dominating the domestic mortgage market in the country.

Apart from these major ones, there are some smaller Housing Finance Companies (HFC’s) serving the customers in their respective geographies. The report said that though they are growing their rapidly, the current big players are expected to maintain the dominance.

The report also states that banks together hold almost 70 percent of the total individual home loan market and they are expected to maintain a significant market share.

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