HDFC Bank – Steady Business Performance, Lifting Of Credit Card Ban Awaited: Axis Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

In its business update for Q1FY22, HDFC Bank Ltd. reported a steady loan book growth of 14.4%/1.3% YoY/QoQ, led by non-retail loans (up 17%/2.1% YoY/QoQ).

Retail book growth lagged, down 1.0% QoQ and up 9% YoY on account of Covid-19 disruptions and suspension on new credit card issuances. Within non-retail loans, commercial and rural loans were up 25%/4% YoY/QoQ while wholesale loans were up 10.5%/1.5% YoY/QoQ.

Total deposits grew 13.0%/0.8% YoY/QoQ, led by Current Account/Saving Account deposits growth of 28% YoY.

The bank has managed to sustain its performance amidst Covid-19 uncertainties, both on the growth front as well as on the asset quality front. However, moderation is visible in the retail book, now forming 45% of the total loan book, down from 47% a year ago. Lifting ban on new credit cards will be a key monitorable.

Click on the attachment to read the full report:

Axis Securities HDFC Bank July 6.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button