Q3FY23 Result Update - HDFC Bank - ICICI Direct

Beat NII & PAT estimates; asset quality steady.

- Healthy loan growth at 19.5% YoY to Rs. 15.06 lakh crore; deposits up 19.9%

- NII up 24.6% YoY, NIMs steady QoQ at 4.1%, C/I at 39.6% vs. 37.0% YoY lead by increased opex and staff cost

- Credit cost declined to 0.74%, PAT up 18.5% YoY at Rs. 12259 crore

- GNPA & NNPA steady at 1.23% and 0.33% QoQ, respectively

Key triggers for future price performance

- Change in asset mix and rate transmission to keep margins steady

- Deposit accretion will remain in focus though the management indicated that it will be supported by branch expansion and relationship building

- Steady asset quality and enough provision buffer provides comfort. Physical/digital capabilities to keep the bank ahead of its competitors

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

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1585.25 as compared to the previous close of Rs. 1600.85. The total number of shares traded during the day was 282529 in over 20347 trades.

The stock hit an intraday high of Rs. 1624.40 and intraday low of 1580.15. The net turnover during the day was Rs. 452005948.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Q3FY23 ResultUpdate ICICIDirect