In today’s briefing:
- HDFC Bank: Steady Q4FY23 Results | Merger Update – RBI Concessions
HDFC Bank: Steady Q4FY23 Results | Merger Update – RBI Concessions
- HDFC Bank (HDFCB IN) reported a steady and broadly in-line-with-expected Q4FY23 earnings. In particular, its growth in deposits at 8.7% QoQ was commendable.
- Advances also grew at a healthy pace of 6% QoQ. Retail advances grew 5% QoQ, while CRB (Commercial and Rural Banking) grew the most at 9.7% QoQ.
- Aided by low credit costs, HDFCB continues to invest in expanding its geographical and digital distribution to deepen its penetration.
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