KR Choksey has come out with its first quarter (April-June) earnings estimates for the banking sector. The brokerage house expects HDFC Bank to report a 3.3 percent degrowth quarter-on-quarter (growth of 21 percent year-on-year) in net profit at Rs 3261.8 crore.Net interest income is expected to increase by 2.9 percent Q-o-Q (up 20 percent Y-o-Y) to Rs 7666.5 crore, according to KR Choksey.KR Choksey's Report on HDFC Bank: Expect better than industry credit growth translating into storng 20 percent NII growth Y-o-Y during the quarter. The bank continues to make market share gains. Non-interest income traction expected to look strong. Asset quality should remain stable for the quarter. Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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