BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
HDFC Bank Ltd.'s decadal low net interest income growth at 9% YoY in Q1 FY22 dragged earnings growth below expectations at 16% (against past six-year average of 18-20%).
Net interest margins (at 4.1%) settled at the lower end of the guided range.
HDFC Bank's slippages, amid second Covid-19 wave disruption, too were elevated at 2.54%, though partially offset by sale of non performing assets (Rs 18 billion) and write-offs (Rs 31 billion).
Gross non performing assets rose only marginally to 1.47% (from 1.32% in FY21) and credit cost was contained at 1.7%. Stage-III assets for its subsidiary, HDB Financial Services Ltd., almost doubled.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
