HDFC Bank provisioning for bad loans drops 34% YoY; net interest income 14.5% higher - Business News: Latest News & Videos about market and economy | Trendmergers

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HDFC Bank provisioning for bad loans drops 34% YoY; net interest income 14.5% higher

India’s largest private sector lender reported a net profit of Rs7,730 crore in the corresponding period last year. Analysts polled by Bloomberg had estimated net profit of Rs8,197 crore for April-June.“Despite the bond losses, we have produced a 19% rise in net profit. . . it’s a reasonably healthy performance,” said Sashidhar Jagdishan, managing director of HDFC Bank at the lender’s AGM. “We will be able to recoup those losses as yields stabilise. ”

from Stocks-Markets-Economic Times
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