HDFC Bank - Key Overhang Addressed; Growth Trend To Revive: Motilal Oswal
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Motilal Oswal Report
HDFC Bank Ltd. is India's largest private sector bank by assets and by market capitalisation.
It has a banking network of 5,653 branches and 16,291 ATMs in 2,917 cities/towns as of date.
The Reserve Bank of India has partially lifted the restrictions placed on HDFC Bank in December 2020 and allowed the bank to source new credit cards.
However, the restrictions on new digital application launches would continue. This addresses a key overhang as the bank is the largest credit card issuer in the country, and this segment is key to the bank’s overall profitability.
The bank delivered healthy growth in advances in Q1 FY22 despite a challenging environment. Growth was led by commercial and rural banking, while retail witnessed moderation.
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