HDFC Bank Ltd. share price target

Steady quarter across parameter with advances growth of 25%, marginal NIM expansion and improvement in C/I and stable asset quality sequentially. We believe the bank is well placed to acquire market share from vacuum likely to be left by the withdrawal of NBFCs and is expected to remain relatively less sensitive to the current volatility. We value it at...

HDFC Bank Ltd.'s quarterly profit met analysts' estimates on the back of stable asset quality and healthy fee income. HDFC Bank registered a 23% rise in Interest income to Rs 24199.56 crore in the quarter ended September 2018. A 25% rise in interest expenses to Rs 12436.15 crore saw net interest income (NII) grow 21% to Rs 11763.41 crore. Other income grew 11% to Rs 4015.59 crore, which took net total income up 18% to Rs 15779 crore. Operating expenses increased 14% to Rs 6299.05 crore, after which OP grew 21% to Rs...

20 October 2018 HDFC Bank Loan book grew 6%/24% QoQ/YoY to INR7.5t. Deposits grew 3.4%/20.9% QoQ/YoY to INR8.3t. CD ratio, thus, inched up to 90.1% (+215bp) from 87.9% in 1QFY19. Incremental growth in the quarter was driven by retail loans (+5.5%/~24% QoQ/YoY), taking retail loan share to 67.9% (53.5% as per regulatory classification) of the book, compared to 68.3% in 1QFY19. Retail loan growth was driven by personal loans (+7.

HDFC Bank has a balance sheet size of ~INR8.96tn as at June 17. It is amongst the leading private sector banks with a market cap of over INR4.4tn.

HDFC bank continues to maintain strong and stable asset quality as Gross and Net nonperforming asset (NPA) ratios remain broadly stable at 1.3% (3 bps QoQ) and 0.4% (1 bps QoQ), respectively. Slippages have marginally increased to 2.1% as against 1.7% in Q4FY18 attributable to higher stress in agriculture sector. However, management remains confident of stable trends in asset quality. The provision coverage ratio (PCR) also remained steady at 69%. Notably, Gross NPA ratio has remained around 1% during the last eight years whereas restructured loans remain miniscule which provides further comfort. Hence, we don't expect any major negative surprises...

Margin contracts; low opex and P&C; aid profitability' HDFC Bank Ltd. (HDFCB) reported double digit growth in the net profit and maintained stable assets quality during Q1FY19. While, PAT increased by 18.2% YoY, the growth in NII at 15.4% YoY remained lower than the expectation due to higher cost of deposits, also putting pressure on margin. NIM reduced by 10 bps QoQ to 4.2% during quarter owing to the higher interest cost driven by spike in fixed deposits, interest reversal on agri NPAs and short duration investment book. However, high fee income growth, controlled opex and low provisioning supported...

We believe that despite a ~33% appreciation in the stock price of HDFC Bank

The Reserve Bank of India granted banks an option to spread provisioning for mark to market losses on investments held in AFS and HFT categories for the quarter ended June2018 equally over four quarters. The Bank has chosen not to avail of this option and has recognised the entire...

HDFC Bank delivered steady performance for Q1FY19, with PAT growth of 18.2% yoy. On the operating front, the bank reported 15.4% yoy growth in NII, however, the numbers disappointed on NIM front. NIM declined by 20bps on a sequential basis to 4.2%. The bank managed to reduce its expenses and brought down the cost/income ratio from 41.7% i..

HDFC Bank is the leading private bank with an assets, loans & advances and Market Cap over INR 10.6tn, INR 6.5tn and INR 5.6tn. The distribution network comprises of 4,787 branches and 12,635