Motilal Oswal: HDFC Bank’s Business Trends Undergoing Swift Normalisation
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Motilal Oswal Report
HDFC Bank Ltd. reported a strong performance, with advances growth driven by the corporate segment. Select retail segments also showed signs of recovery, with credit card growing at 6% QoQ.
Operating performance remained stable, led by steady business growth and cost control.
However, margins moderated 20 basis point QoQ on account of higher liquidity and a change in the asset mix.
The bank further shored up provisions as it provided for Rs 2,300 crore toward potential non-performing asset (not declared due to the Supreme Court order) and other contingent provisions.
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