India’s second-largest private
sector lender, HDFC Bank, has posted a 31 percent increase in first
quarter net earnings to INR6.1 billion ($124.5 million), beating
forecasts, boosted by an increase in non-interest income which
soared by 76 percent compared with the first quarter a year

Profits before tax at the bank’s retail unit,
however, plunged 53 percent to INR1.44 billion for the quarter,
with provisions for bad debts almost doubling to INR6.59 billion,
compared with INR3.44 billion a year earlier.

The bank’s CASA (current accounts and savings)
ratio remained flat at 45 percent compared with a year ago (44.9
percent) while total retail deposits grew by 11.6 percent to
INR655.1 billion. The bank’s distribution network has expanded in
the past year, to reach 1,416 branches and 3,382 ATMs at 30 June,
compared with 1,229 outlets and 2,526 ATMs a year ago.

HDFC’s principal private sector rival, ICICI
Bank, has a network of 1,463 units and 4,721 ATMs, as a result of
its own recent branch expansion drive.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.