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Motilal Oswal Report
HDFC Bank Ltd. reported a mixed Q4 FY22 with lower-than-estimated NII/PPoP growth at 10%/5% year-on-year, respectively.
However, PAT grew 23% YoY to INR 100.5 billion (4% beat), propelled by a sharp 29% YoY decline in provisioning.
The bank witnessed a healthy pick-up in business as loans grew 8.6% quarter-on-quarter/20.8% YoY.
The Retail segment grew 15.2% YoY, while Commercial and Rural Banking saw a robust growth of 30.4% YoY.
Corporate portfolio also saw better traction and delivered 17.4% YoY growth.
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