Corporate Debt Restructuring Masterclass

18 July 2022 (Mon), 5pm Singapore/HK time

HDFC Bank reported an 18% YoY rise in Q3 profits to INR 103bn ($1.4bn) with its net interest income (NII) rising 13% to INR 184bn ($2.5bn) for the quarter ended December. Retail loans grew 13.3%, commercial and rural banking loans grew 29.4% and corporate and other wholesale loans grew 7.5%. HDFC Bank’s Current Account Savings Account (CASA) deposits grew 24.6% YoY with its CASA ratio standing at 47.1% vs. 43% during the same period last year. Its provisions fell 12.3% to INR 29.9bn ($390mn) with its gross non-performing asset (GNPA) ratio down 9bp QoQ to 1.26%, while the net (NNPA) ratio fell 3bp QoQ to 0.37%. Its CET1 ratio stood at 17.1%, down 30bp QoQ.

HDFC Bank’s USD 3.7% Perp was up 0.4 points to 99.375, yielding 3.85%.

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