External broker reports(aggregated public sources), Axis Direct

Axis Direct

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External broker reports(aggregated public sources)

HDFC Bank (HDFCB): Robust Deposit Growth Despite Tough Environment

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Progressing well on LDR improvement; Growth momentum to resume from FY26: In line with HDFCB’s stance of improving LDR aggressively to pre-merger levels of mid-80%, the bank has been progressing well with deposit growth outpacing credit growth.</li><li>In Q3FY25, LDR stood at 98.2% vs 99.8% QoQ. The management has reiterated its guidance of limiting growth to below systemic growth in FY25 to accelerate LDR improvement.</li><li>FY26 growth will align with industry growth, gradually improving (outpacing industry growth) from FY27E onwards. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Progressing well on LDR improvement; Growth momentum to resume from FY26: In line with HDFCB’s stance of improving LDR aggressively to pre-merger levels of mid-80%, the bank has been progressing well with deposit growth outpacing credit growth.In Q3FY25, LDR stood at 98.2% vs 99.8% QoQ. The management has reiterated its guidance of limiting growth to below systemic growth in FY25 to accelerate LDR improvement.FY26 growth will align with industry growth, gradually improving (outpacing industry growth) from FY27E onwards. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

HDFC Bank Ltd. - Progressing Well on LDR Improvement; Outlier on Asset Quality!