Q3FY17: HDFC Bank
Bhagyashree Vivarekar / 24 Jan 2017
HDFC Bank Ltd., one of the leading private banks in the country, posted a healthy set of Q3FY17 results earlier today. The bank's total revenue for the period came in at Rs 20,748.3 crore as against Rs 18,283.3 crore during Q3FY16. Also, its net profit for Q3FY17 increased by 15.1 per cent YoY to Rs 3,865 crore.
HDFC Bank Ltd., one of the leading private banks in the country, posted a healthy set of Q3FY17 results earlier today.
The bank's total revenue for the period came in at Rs 20,748.3 crore as against Rs 18,283.3 crore during Q3FY16. Also, its net profit for Q3FY17 increased by 15.1 per cent YoY to Rs 3,865 crore.
The bank's loan growth was expected to take a hit due to FCNR (foreign currency non-repatriable) redemption and higher SME repayments. However, the bank managed to post an asset growth of 18.6 per cent YoY.
Additionally, the low cost deposit flow was expected to remain strong due to demonetisation. The total deposits growth of 21.1 per cent YoY to Rs 828,020 crore vindicated this expectation.
HDFC Bank's stock, which opened for trading today at Rs 1250, increased to Rs 1266 on the BSE and is currently trading around this figure.
HDFC Bank Ltd is a private banking company conducting its business in India. HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers. The bank has three key business segments, namely, wholesale banking services, retail banking services and treasury. The bank presently has a network of 2000 branches spread in 996 cities across India.
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