Fundamental Result Update

HDFC Bank Ltd. Q3FY20 - Result Update



HDFC Bank’s performance enhanced further in Q3FY20 with Net Interest Income increasing by +12.7% YoY/+4.9% QoQ, PPOP increasing by +20.1% YoY/+10.75.6% QoQ and Net Income increasing by +32.8% YoY/+16.9% QoQ, benefitting from the corporate tax rate cut. However, provisions increased significantly by 37.6% annually to Rs 3,044 Cr against last year’s Rs 2,212 Cr which was caused by addition of a one-off Corporate Account of Rs 700 Cr. On the business front, the bank did well with +19.9% YoY/+4.4% QoQ growth in the loan book and +25.2% YoY/+4.5% QoQ in the deposits. The advances growth was driven primarily by the substantial growth in the personal loans, credit cards, home loans and business banking segments of the retail segment of the bank while the corporate book grew by a staggering 31.9% YoY/3.9% QoQ during the quarter. Overall, the bank’s business growth came fastest among its peers in the industry. The deposit growth was robust with the massive growth in the term deposits (+27.7% YoY) and current account deposits (+28.6% YoY).


Tags: Fundamental


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