[ad_1]
BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Bank Ltd. reported an in-line quarter, with profit after tax up 20% YoY, aided by a pick-up in net interest income growth due to 10 basis points QoQ expansion in margin.
Pre provision operating profit growth remained modest at 10% YoY, adversely impacted by a treasury loss of Rs 2.5 billion. However, core PPoP growth was healthy at ~17% YoY in Q2 FY23.
Business growth remained healthy led by strong traction in commercial and rural banking as well as corporate book while retail too grew strongly.
HDFC Bank’s asset quality ratios remained robust and witnessed a sequential decline led by moderation in slippages and healthy recoveries and upgrades.
Restructured book too declined to ~53 bps of loans in Q2 FY23 (from 76 bps in Q1 FY23). Healthy provision coverage ratio of ~73% and a contingent provision buffer (at 65 bps of loans) provided comfort on asset quality.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
[ad_2]
Image and article originally from www.bqprime.com. Read the original article here.