Paresh Sukhtankar of HDFC Bank says neither funds nor capital were a constraint for growth and asset quality in the third quarter was largely stable. He, however, adds that a further pick-up in the bank‘s growth will depend on GDP growth
The business of banking is really sticky and the sector clearly needs competition
Private sector lender HDFC Bank has reported a rise of 31.5% year-on-year in net profit of Rs 1,199 crore in the quarter ended September 2011. The company had posted a profit of Rs 912 crore in the corresponding quarter of last fiscal.
HDFC Bank beat analysts estimates with a fourth quarter (January-March) net profit of Rs 1,114.7 crore, up 33.2% year-on-year, aided by a strong loan-book growth and higher fee-based income. Paresh Sukhtankar, ED, HDFC Bank expects over 20-21% loan growth ahead.