HDFC Bank FY21 earnings confirm that the strong has become stronger
Asset quality and growth are the two big issues confronting banks today. Remarkably, HDFC Bank scored well on both these parameters, remaining almost pandemic-proof
April 19, 2021 / 09:26 AM IST
PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook
HDFC Bank (CMP: Rs 1,428; Mcap: Rs 787,472 crore) knows how to finish strong, every time. Even amid the worst economic crisis induced by the pandemic, HDFC Bank reported yet another consistent performance with net profit rising by 19 per cent year-on-year (YoY), in FY21. Profits growth remained strong despite the bank shoring up provisions to deal with future contingencies and was aided by healthy loan growth, rock-steady margins and better operating efficiency.
Asset quality and growth are the two big...