HDFC Bank Q1 Review - Asset Quality Declines With Lower Collections: KRChoksey
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KRChoksey Research Report
HDFC Bank Ltd.'s Q1 FY22, net interest income grew to Rs 17,009 crore from Rs 15,665 crore in Q1 FY21 (8.6% YoY growth) driven by advances growth of 14% YoY.
The bank’s continued focus on deposits helped in maintenance of a healthy liquidity coverage ratio at 126%.
Pre provision operating profit grew 18% YoY at Rs 15,137 crore in Q1 FY22 from Rs 12,829 crore in Q1 FY21 driven by other income (non- interest income) growth of 54% YoY at Rs 6,289 crore.
Provisions for Q1 FY22 stood at Rs 4,831 crore, an increase of 24% YoY and 3% QoQ.
HDFC Bank's gross non performing asset were 1.47% in Q1 FY22 versus a comparable 1.32% in Q4 FY21.
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