HDFC Bank's weak Q1 performance may keep Bank Nifty under pressure

The private bank bellwether reported its lowest NII growth in a decade

Topics
HDFC Bank | Stock | NPAs

Devangshu Datta  |  New Delhi 

The Q1 results of HDFC Bank disappointed and sent tremors through the private banking space. HDFC Bank, among the most highly-valued institutions in the world, recorded its lowest growth in Net Interest Income (NII) in at least ten years. It also saw rising non performing assets (NPAs), and higher write offs, and in a show of caution, boosted provisioning and contingency reserves.

The subsidiary, HDB Financial, took a hit with elevated NPAs as well. Much of this was the effect of the Second Wave. The bank believes robust high-speed indicators signal strong growth through the rest of ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, July 19 2021. 21:15 IST
RECOMMENDED FOR YOU
.