HDFC Bank Q1 Review - Pandemic Hits Quarter; Geared To Push Recovery Ahead: ICICI Direct

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..ICICI Direct Report.HDFC Bank Ltd.’s performance was below expectations considering the tough environment. Key takeaways of result and conference call:Marred by lockdown, loan growth sequentially saw moderation at 1.3% QoQ and 14.4% YoY. Growth was primarily driven by wholesale loans (up 18.1% YoY) while retail loans showed uptick of 10.2% YoY.Net interest margin was negatively impacted due to lower yield product mix, lower revolver share in credit cards, interest reversals due to non performing asset. Net interest income, margin growth would have been higher by 6% YoY, if NIM was not negatively impacted.Provisions stayed elevated at Rs 4830 crore, including Rs 600 crore as contingent provisions. This led to moderation in earnings at 16.1% YoY to Rs 7729 crore.No restructuring was done in HDFC Bank's financial during the quarter. .Click on the attachment to read the full report:.DISCLAIMERThis 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.

HDFC Bank Q1 Review - Pandemic Hits Quarter; Geared To Push Recovery Ahead: ICICI Direct

HDFC Bank Q1 Review - Pandemic Hits Quarter; Geared To Push Recovery Ahead: ICICI Direct

Choose a plan