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Yes Securities Report
Asset quality: Annualised gross slippage ratio of HDFC Bank Ltd. for Q3 FY24 was 1.0% (Rs 70 billion), with recoveries and upgrades amounting to Rs 45 billion.
Margin picture: Net interest margin at 3.4% was flat QoQ, as sequentially yield on assets and cost of funds have moved up in tandem.
Asset growth: Advances grew 4.9% QoQ on comparable basis, sequentially driven by retail segment and commercial and rural banking segment.
Opex control (QoQ comparable): Total opex rose 3.6%/28% QoQ/YoY, employee expenses rose 3.5%/30% QoQ/YoY and other expense rose 3.7%/27% QoQ/YoY.
Fee income: Fees and commissions were flat QoQ, where retail fee income constitutes 94% of the total fee income.
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Also Read: HDFC Bank Q3 Results Review - Net Interest Margins Stable; RoA Maintained At 2%: IDBI Capital
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