HDFC Bank Q2 Results Tomorrow, Asset Quality In Focus: What To Expect
NDTV
HDFC Bank - the country's largest private lender will announce its July-September quarter results for the financial year 2021-22 tomorrow, Saturday (October 16).
HDFC Bank, the country's largest private lender will announce its July-September quarter results for the financial year 2021-22 tomorrow - Saturday (October 16). The bank reported better-than-expected credit growth of 15 per cent year-on-year was mainly driven by the re-acceleration in retail growth, according to leading brokerage and financial services company Emkay Global Financial Services in its recent report. HDFC Bank's asset quality is likely to improve in the second quarter of thee current fiscal, according to the report.
The bank's deposit growth was steady at 14 per cent year-on-year and CASA deposit growth was stronger at 29 per cent year-on-year - which is a development likely seen across large banks, partially benefitting from the Reserve Bank of India's directive to maintain current accounts with the main lender.
The CASA ratio remains high at 47 per cent, added Emkay Global's report and along with acceleration in retail loans, HDFC Bank's is likely to report better margins sequentially in the upcoming quarterly results.
The central bank lifted the sanction on HDFC Bank's credit card business in August 2021. Since then, the bank has issued over 4 lakh credit cards after the bank was lifted.
