HDFC Bank Posts Steady Q3 Performance; Growth Outlook Getting Stronger, Says Motilal Oswal

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HDFC Bank Ltd. reported a strong performance, with advances growth driven by both corporate and revival in the retail segment.

Operating performance remained steady, led by healthy business growth, sequential margin improvement, and cost control.

The bank further shored up provisions, providing Rs 24 billion toward potential non-performing assets (not declared due to the Supreme Court order) and other contingent provisions.

Asset quality remained stable, while total restructuring stood at 0.5% of loans.

Proforma slippages stood at Rs 49 billion; the bank holds a sufficient additional contingent provision buffer to manage the Covid-19 impact.

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