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ICICI Direct: HDFC Bank - Steady Operation, Resilience On Asset Quality

ICICI Direct: HDFC Bank - Steady Operation, Resilience On Asset Quality

A man looks at a mobile phone as he sits near a HDFC bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)
A man looks at a mobile phone as he sits near a HDFC bank Ltd. branch in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

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ICICI Direct Report

HDFC Bank Ltd. posted a stable and steady performance on an overall basis considering the fact that the overall business environment was impacted by the Covid-19 pandemic.

Loan book during the quarter increased 15.8% YoY, 3.5% QoQ to Rs 10.38 lakh crore.

Growth in the retail segment remained tepid, up 5.3% YoY and 2.1% QoQ but growth in the corporate segment continued to remain healthy at 26.8% YoY, 4.7% QoQ.

On liabilities, the bank witnessed healthy deposit accretion at 20.3% YoY and 3.4% QoQ to Rs 12.3 lakh crore, mainly driven by higher traction in current account and savings account deposits at 27.5% YoY to Rs 5,11,451 crore.

Click on the attachment to read the full report:

ICICI Direct HDFC Bank Q2FY21 Result Update.pdf

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