Q2FY22 Result Update - HDFC Bank - ICICI Direct

Performance broadly in line with expectations.

• Advances up 15.5% YoY at Rs. 11.9 lakh crore, with deposits up 14.4% YoY
• NII up 12.1% YoY, NIM stable QoQ at 4.1%, C/I up QoQ to 37%
• GNPA improved 12 bps QoQ to 1.35%, R/s up ~90 bps QoQ to ~1.7%
• Gross stage 3 assets for HDB Financial at 6.1% v/s 7.7% QoQ

Key triggers for future price performance

• Higher specific provision & contingency buffer of 77 bps provide comfort
• Credit demand near pre-Covid level; MSME & retail segment to drive growth
• Strategy to identify and expand segment & geography to aid momentum
• Building up of physical/ digital infra to drive growth led by competitive edge

For details, click on the link below: Link to the report

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1685.90 as compared to the previous close of Rs. 1639.05. The total number of shares traded during the day was 304067 in over 13416 trades.

The stock hit an intraday high of Rs. 1690.00 and intraday low of 1639.05. The net turnover during the day was Rs. 508733339.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Q2FY22 ResultUpdate ICICIDirect