Net interest income also saw a 18.9% rise while advances grew at 23.4% with the bank seeing a high growth across retail, commercial, rural banking, wholesale loan among others.
HDFC's retail loans grew around 9.3 per cent slower than its overall book's 14.4% in the June quarter, much lower than SBI (16.5%) & ICICI (20%) growth in that portfolio.
Launched in 1994, India's HDFC Bank is now the world’s 10th most valuable bank and has surpassed Citibank and HSBC in worth standing at about $90 billion.
After 63% rebound, HDFC stock too expensive given the risks related to management change & asset quality as Indian lenders face a challenging phase, analyst Pankaj Agarwal says.
Credit history only after debt recast would be taken into account for new loans. Banks will allow recast only if income impacted between February and August.
HDFC shares fell as much as 2.2% in Mumbai in early trading Friday. The stock dropped 40% from its January record high to its April low but has since rebounded 27%.
HDFC Bank’s lending to large & small companies surged 63% over 2 years through 31 Dec as economy went from world-leading growth to slowest expansion in 6 years.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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