ICICI Direct: HDFC Bank’s Steady Quarter In Tough Environment

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.HDFC Bank first quarter indicated that 9% of customers opted for Moratorium 2.0 (5% in Moratorium 1.0). Provisions continued to stay elevated at approximately 39 basis points of advances to Rs 3,891 crore, including contingent provisions of approximately Rs 1,000 crore. As of June 2020, the bank has outstanding floating provision of Rs 1,451 crore, contingent provisions of Rs 4,002 crore, i.e. ~0.5% of advances. On the back of Covid-19 led economic slowdown, HDFC Bank reported sequentially moderate credit offtake at 1% QoQ but up 21% YoY to Rs 10,03,291 crore. Retail growth decelerated to 7% YoY to Rs 4,75,005 crore, led by sequential de-growth across retail portfolio, while corporate loan growth was healthy at 37% YoY to Rs 5,28,286 crore.Click on the attachment to read the full report:.DISCLAIMERThis 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 brokerage 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.

ICICI Direct: HDFC Bank’s Steady Quarter In Tough Environment

ICICI Direct: HDFC Bank’s Steady Quarter In Tough Environment

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