HDFC Bank defies a challenging environment
HDFC Bank’s core income growth as well as loan book expansion rivals that of fast-growing small banks, with net interest income growing 20.29% on the back of a loan book growth of 19.4%. Photo: Pradeep Gaur/Mint.
HDFC Bank Ltd hit all the right notes with investors as it reported a bounce back in its profit growth, stable asset quality and expansion in net interest margin for the fourth quarter of 2016-17.
India’s most valuable private sector lender reported a net profit of Rs3,990.1 crore for the March quarter, an 18.3% increase from the previous year, compared with the tepid 15% rise in the December quarter. The fact that most of its metrics have rebounded from their dip in the December quarter shows that it has left the effects of demonetization firmly behind.
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