 "HDFC Bank")
A few weeks ago, when HDFC Bank published its December quarter (Q3) loan growth and deposit data, analysts were of the opinion that the widespread economic downturn wasn’t hurting it much. This was tested over the weekend, when HDFC Bank published its Q3 results.
While headline numbers met estimates, quality of loan growth and asset quality didn’t. This explains the 1.8 per cent dip in its stock price on Monday.
Net interest income (NII) growth, at 12.7 per cent year-on-year (YoY), is the weakest in 15 quarters.
HDFC Bank’s yield on assets fell from 9.3 per cent a year ago
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