HDFC Bank Q4 Results: HDFC Bank released its financial results for the January-March quarter of the fiscal year 2023-24 (Q4FY24), revealing a standalone net profit of ₹16,512 crore. This figure represents a slight increase from the ₹16,373 crore reported in the previous December quarter. However, it’s important to note that HDFC Bank merged with its parent company, Housing Development Finance Corporation (HDFC), in July, making year-over-year comparisons inappropriate. -HDFC Bank Q4 Results
India’s largest private lender, HDFC Bank, maintained stable asset quality with a gross non-performing assets (NPA) ratio of 1.24 percent by the end of March, a slight improvement from 1.26 percent recorded three months earlier. The bank’s core net interest income surged to ₹29,080 crore for the reporting quarter, alongside a notable growth in other income, which reached ₹18,170 crore. Additionally, HDFC Bank reported a core net interest margin (NIM) of 3.44 percent on total assets, reflecting its efficiency in managing interest-bearing assets and liabilities. This performance underscores HDFC Bank’s resilience and strategic prowess in navigating dynamic market conditions.
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HDFC Bank increased provisions for potential bad loans, maintaining stable lending margins despite challenges. However, the merged entity faced pressure on margins due to HDFC’s higher borrowing costs and a lower-yielding loan book. Analysts on D-Street anticipated a slowdown in loan growth, prioritizing deposit growth to restore key ratios to pre-merger levels. This strategic shift reflects the bank’s commitment to maintaining financial stability and optimizing performance amidst evolving market dynamics.
