HDFC Bank Ltd. share price target

Q4FY22, Strong loan growth, asset quality improves, in line with estimates HDFC Bank has posted strong 23% jump in net profit to Rs 10055.18 crore in the quarter ended March 2022 (Q4FY2022), driven by sharp decline in the credit cost and lower tax rate. However, the bank has witnessed moderation in net interest income growth, non-interest income and...

HDFC Bank reported a strong trend on assets quality and moderate operating performance in 4QFY22. The slippages decreased 13% sequentially, which resulted in improvement in GNPA ratio to 1.17% v/s 1.17% in the previous quarter. The reported GNPA is well below the...

HDFCB's PAT at Rs100.6bn was a miss (PLe: Rs115.04bn), due to weaker NII and other income although opex was lower. Asset quality was stable and OTR pool is ~1.1% of loans. NII traction remained softer than loan growth due to non-retail focus. HDFCB's credit accretion in the recent past has been primarily led by wholesale and CRB, since credit standards were tightened in retail due to COVID. This has been a drag on margins. Loan mix in terms of non-retail/retail stands at 61/39 compared to 50/50 pre-pandemic. Balance sheet strength is suggested by a PCR of 70%+, contingent provisions at...

HDFC Bank was incorporated in August 1994. It provides corporate banking and custodial services and is also involved in treasury and capital markets. In addition, it offers project advisory services and capital market products,...

We maintain our BUY recommendation with a target price of Rs 1,985 derived using the SOTP method (core bank at 3.5x FY24 ABV + Subsidiaries value Rs 70/-), implying an upside of 20% from CMP.

The Board of Directors of HDFC Ltd and HDFC Bank, at their respective meetings, inter alia, approved a composite scheme of amalgamation for amalgamation of: (i) HDFC Investments Ltd and HDFC Holdings Ltd, with and into HDFC Ltd; and (ii) HDFC...

Shareholders of HDFC Ltd as on record date will receive 42 shares of HDFC Bank (FV |1/- each) for 25 shares of HDFC Ltd (FV | 2/- each). Subsidiary/associates of HDFC Ltd will become subsidiary/associates of HDFC Bank.

deciding to merge into HDFC Bank and the transaction would take ~18 months to complete. The rationale of the merger is that regulatory arbitrage between banks and NBFCs has been reducing while the time was opportune owing to a softer interest rate environment coupled with lower liquidity requirements. As at Dec'21, the total loan size of the merged entity would be ~Rs18trn with the share of mortgages expected to increase from 11% to 33%. Since a chunk of HDFC Ltd.'s customers do not have a banking relationship, this would provide tremendous cross-sell opportunities. While the merger...