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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>HDFC Bank has posted 16% growth in net profit to Rs 7729.64 crore in the quarter ended June 2021 (Q1FY2022), driven by strong growth in non-interest income and stable cost-to-income ratio.</p>
<p>The core fee income of the bank has jumped 74% on low base, but the second covid wave and consequent lockdowns in various part of the country caused sharp decline in core fee income on sequential basis.</p>
<p>Net interest margin for the bank came in at 4.1 per cent. This was only the third time since the beginning of FY17 that the bank's NIM came in this low. Total advances rose 14.4% y-o-y to Rs 11.5 lakh crore, of which retail loans were up 9.3% y-o-y to Rs 4.58 lakh crore. Similarly, commercial and rural banking loans were up 25% from a year ago to Rs 3.86 lakh crore. The bank also said wholesale loans were up 10% y-o-y to Rs 3.14 lakh crore. Total deposits of the bank grew 13.2% y-o-y to Rs 13.4 lakh crore. CASA deposits grew by 28.1% y-o-y with savings account deposits at Rs 4.2 lakh crore and current account deposits at Rs 1.85 lakh crore.</p>
<div class="content-highlight"><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></div>

HDFC Bank has posted 16% growth in net profit to Rs 7729.64 crore in the quarter ended June 2021 (Q1FY2022), driven by strong growth in non-interest income and stable cost-to-income ratio.
The core fee income of the bank has jumped 74% on low base, but the second covid wave and consequent lockdowns in various part of the country caused sharp decline in core fee income on sequential basis.
Net interest margin for the bank came in at 4.1 per cent. This was only the third time since the beginning of FY17 that the bank's NIM came in this low. Total advances rose 14.4% y-o-y to Rs 11.5 lakh crore, of which retail loans were up 9.3% y-o-y to Rs 4.58 lakh crore. Similarly, commercial and rural banking loans were up 25% from a year ago to Rs 3.86 lakh crore. The bank also said wholesale loans were up 10% y-o-y to Rs 3.14 lakh crore. Total deposits of the bank grew 13.2% y-o-y to Rs 13.4 lakh crore. CASA deposits grew by 28.1% y-o-y with savings account deposits at Rs 4.2 lakh crore and current account deposits at Rs 1.85 lakh crore.
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 Q1 Net Profit up 16.1 Per Cent to Rs 7,729.64 Crore