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HDFC Bank Q1: Strong growth, but treasury loss hurts earnings

Neha Dave   •

Retail growth picked up in Q1FY23, and if the momentum sustains, FY23 could well turn out to be a comeback year for the bank

HDFC Bank: HDFC Bank clocks 19% growth in Q1 profit, NII grows 14.5% YoY. The country's largest private sector lender has reported a 19% year-on-year growth in standalone profit at Rs 9,196 crore for the quarter ended June 2022 led by fall in provisions for bad loans, with net interest income rising 14% YoY to Rs 19,481.4 crore driven by loan growth of 22.5% and deposits increase of 19.2%. Pre-provision operating profit increased 14.7% YoY to Rs 15,367.8 crore during the quarter.

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This Research Report / Research Recommendation has been published by Moneycontrol Dot Com India Limited (hereinafter referred to as “MCD”) which is a registered Investment Advisor under the Securities and Exchange Board of India (Investment Advisers) ...Read More