ICICIdirect has come out with its fourth quarter (January-March) earnings estimates for the banking sector. The brokerage house expects HDFC Bank to report a 0.7 percent growth quarter-on-quarter (growth of 21 percent year-on-year) in net profit at Rs 2814.8 crore.
Net interest income is expected to increase by 2.6 percent Q-o-Q (up 18.1 percent Y-o-Y) to Rs 5847.5 crore, according to ICICIdirect.
ICICIdirect's Report on HDFC Bank:
We expect a stable quarter with credit growth of 17 percent YoY and deposit growth of 16.2 percent YoY. NII may grow 18 percent YoY to Rs 5847 crore. Opex may remain high with cost to income ratio at 42.5 percent. NPA additions are factored marginally higher with 10 bps increase in GNPA ratio and provisions seen surging 55 percent YoY though declining 20 percent QoQ. PAT growth maintained at 21 percent YoY to Rs 2815 crore.
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