HDFC Bank Q3 Review: Stable Asset Quality; Restructured Advances At 0.5%, Says IDBI Capital
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IDBI Capital Report
HDFC Bank Ltd.’s proforma gross non-performing asset remained stable at 1.38% versus 1.37% QoQ while net non-performing asset at 0.4%; reported GNPA declined to further 0.81%.
However, proforma slippages remain at 1.86% versus 2.31% YoY versus 1.98% QoQ.
Restructuring under Reserve Bank of India resolution framework stood at 0.5% of advances including fewer corporate cases.
Bank reported collection efficiency at 97% in December month (earlier 95% September month).
Profitability (profit before tax growth) saw an uptick led by lower provision; Profit after tax remain stable at 18%.
Net interest income grew by 15% YoY against a loan growth of 16% YoY.
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