HDFC Bank’s Robust Performance Continues In Q3, Says Axis Securities

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..Axis Securities Report.HDFC Bank Ltd. reported better than expected Q3 FY21 earnings performance largely led by improved net interest margins, higher non-interest income and stable proforma asset quality.Net interest income was up 15.1/3.4% YoY/QoQ to Rs 1,63,176 million led by steady loan growth of 16% and improved NIM of 4.2%.Deposit franchise remained strong, up 19% YoY with current account savings account ratio at 43%.Retail deposits form 80% of total outstanding deposits and form100% of incremental deposits. Fee income was up 9.9/26.3% YoY/QoQ.Pre-provision operating profit was up 17.3/9.9% YoY/QoQ to Rs 1,51,860 million with improved C-I of 36.1% (though normalised levels expected at approximately 38-39% in the near-term)..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’s Robust Performance Continues In Q3, Says Axis Securities

HDFC Bank’s Robust Performance Continues In Q3, Says Axis Securities

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