HDFC Bank Annual Report Update - A Covid-Proof Year Blemished By Tech Glitches: Nirmal Bang
An HDFC Bank Ltd. logo sits in a bank branch in Mumbai, India. (Photographer Abhijit Bhatlekar/Bloomberg News)

HDFC Bank Annual Report Update - A Covid-Proof Year Blemished By Tech Glitches: Nirmal Bang

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Nirmal Bang Report

FY21 was an exceptional year for HDFC Bank Ltd. as it crossed the milestone of Rs 300 billion in profit after tax (up 19%) and more than Rs 11 trillion in loans.

Over the last two decades (FY01-FY21), the bank’s profit after tax and assets have grown at 28% and 27% compound annual growth rate, respectively.

In what seemed to be a very challenging year due to the Covid-19 pandemic, especially H1 FY21 (which was marred by a nation-wide lockdown), the bank’s delivery on credit growth seemed effortless.

As systemic aversion to unsecured credit increased, the bank strategically shifted focus towards the wholesale segment (up 21%).

Click on the attachment to read the full report:

Nirmal Bang HDFC Bank-FY21 Annual Report Update-28 June 2021.pdf

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