Investors advised caution\, shouldn\'t be gung-ho about banks\' Q1 updates

Investors advised caution, shouldn't be gung-ho about banks' Q1 updates

While HDFC Bank, IndusInd and Federal have reported up to 21% loan growth, extension of moratorium and flow of business from March may have influenced the numbers

Topics
HDFC Bank | IndusInd Bank | Federal Bank

Shreepad S Aute  |  Mumbai 

The June 2020 quarter (Q1) updates of three private banks – HDFC Bank, IndusInd Bank and Federal Bank – announced in the last couple of days enthused investors on Monday. With 2 - 3 per cent gains in stock prices, the two large banks were among top gainers in Nifty Bank index, which was up 1.6 per cent on Monday; Federal Bank was up 1.4 per cent.

HDFC Bank continued its strong momentum with 21-25 per cent year-on-year growth in loans and deposits. However, while IndusInd Bank and Federal Bank’s deposits also grew, their loan growth further decelerated in Q1 from March ...
First Published: Mon, July 06 2020. 19:12 IST