HDFC Q4 Review - Improving Business Traction Bodes Well: ICICI Direct
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ICICI Direct Report
A healthy revival in credit offtake, especially individual segment thereby leading to improvement in operational performance remained a key highlight of the Housing Development Finance Corp.'s quarter.
Asset quality remained broadly resilient.
For Q4 FY21, the company posted a healthy operational performance with net interest income growth of 10% YoY to Rs 3,918 crore, driven by margin expansion and healthy assets under management growth.
Reported net interest margin was at 3.5%, up approximately 10 basis points QoQ, YoY.
Expansion in net interest margins was aided by 8 basis points sequential uptick in non-individual spreads.
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