Asset quality of HDFC Bank remains stable

This was reflected the bank's stock prices as well, which rose by 2.4%

Hamsini Karthik  |  Mumbai 

The March quarter was yet another one in which the HDFC Bank outperformed the Street expectations on most parameters. The strong performance was reflected in the bank's stock prices as well, which rose by 2.4 per cent on an otherwise flat day of trade. Its net interest income (NII) grew by 21.5 per cent year-on-year to Rs 9,055 crore. Net profit, which expanded by 18.3 per cent year-on-year to Rs 3,990 crore was ahead of Bloomberg estimates at Rs 3,950 crore. Net interest margin (NIM) was maintained at 4.3 per cent. The operational performance helped the bank overcome any possible ...

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Asset quality of HDFC Bank remains stable

This was reflected the bank's stock prices as well, which rose by 2.4%

The March quarter was yet another one in which the HDFC Bank outperformed the Street expectations on most parameters. The strong performance was reflected in the bank's stock prices as well, which rose by 2.4 per cent on an otherwise flat day of trade. Its net interest income (NII) grew by 21.5 per cent year-on-year to ~9,055 crore. Net profit, which expanded by 18.3 per cent year-on-year to ~3,990 crore was ahead of Bloomberg estimates at ~3,950 crore. Net interest margin (NIM) was maintained at 4.3 per cent. The operational performance helped the bank overcome any possible asset quality slippages even as provisioning for bad loans doubled on a year-on-year basis to ~1,262 crore in Q4. Spillover impact of the Reverse Bank of India's relaxation for loans less than ~1 crore in the December quarter resulted in provisioning being higher by ~100 crore in the March quarter. What also came handy was 19.4 per cent growth in the loan book, which currently stands at ~5.6 lakh crore. This ... The March quarter was yet another one in which the HDFC Bank outperformed the Street expectations on most parameters. The strong performance was reflected in the bank's stock prices as well, which rose by 2.4 per cent on an otherwise flat day of trade. Its net interest income (NII) grew by 21.5 per cent year-on-year to Rs 9,055 crore. Net profit, which expanded by 18.3 per cent year-on-year to Rs 3,990 crore was ahead of Bloomberg estimates at Rs 3,950 crore. Net interest margin (NIM) was maintained at 4.3 per cent. The operational performance helped the bank overcome any possible ... image
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