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Q2FY13 Results: How ICICI, Axis and HDFC Bank numbers stack up

As expected, India‘s top three private sector lenders continued to be in favour with investors post second quarter earnings. Even as fear of bad loans looming large, these lenders managed to retain their asset quality and recorded better-than-expected non-performing assets.

October 30, 2012 / 08:19 AM IST
 
 
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Riken Mehta & Saikat Das
Moneycontrol.com

As expected, India’s top three private sector lenders continued to be in favour with investors post second quarter earnings. Even as fear of bad loans looming large, these lenders managed to retain their asset quality and recorded better-than-expected non-performing assets.

 

Both Axis Bank and ICICI Bank have made provisions for their exposure in debt-ridden Deccan Chronicle wherein they loaned around Rs 400 crore and Rs 500 crore respectively. Going forward, the lenders ruled out any major pressure on credit quality. However, HDFC Bank remained insulated from such big loan restructuring cases and maintained its momentum in growing net profit over 30% for so many quarters with good asset quality. It gives mostly short term working capital loans to corporate clients unlike the other two banks, which participate in extending long term project loans too.

For loan book growth, all banks have surpassed the projected industry credit growth of 16% by wide margin even in the so-called slack season (April-September).

ParticularsICICI BankAxis BankHDFC Bank
NII Growth
YoY34.5%15.9%26.7%
QoQ5.6%6.7%7.1%
PAT Growth
YoY30.1%22.1%30.1%
QoQ7.8%-2.6%10.1%
Loan Book Growth
YoY17.6%22.9%22.9%
QoQ2.5%0.6%8.6%
Deposit Growth
YoY

14.80%

21.2%18.7%
QoQ

5.10%

5.8%6.4%
Net Interest Margins3.00%3.46%4.20%
Gross NPA3.54%1.10%0.91%
YoYUNCHUp 2 bpsDown 9 bps
QoQDown 60 bpsUp 4 bpsDown 6 bps
Net NPA0.78%0.30%0.20%
YoYDown 15 bpsDown 1 bpUNCH
QoQUp 7 bpsUp 2 bpsUNCH
Provisions QoQ9.01%96.80%-39.90%
CASA40.70%40.50%45.90%
Capital Adequacy Ratio18.28%13.00%17.00%

first published: Oct 29, 2012 09:05 am