HDFC Bank Ltd <HDBK.NS> said it was "comfortable" with the rise in bad loans in its fiscal first quarter as the nation's second-biggest private sector lender by assets reported net profit rose by a fifth in line with analysts' estimates. Net profit was 32.39 billion rupees ($482 million) for the three months to June 30, the Mumbai-based bank said in a statement on Thursday.
Analysts on average had expected a net profit of 32.52 billion rupees, according to data compiled by Thomson Reuters. Gross bad loans as a percentage of total loans rose to 1.04 percent as of June 30 from 0.94 percent as of end-March, which the bank's deputy managing director Paresh Sukthankar said was driven by small-and-medium corporate borrowers and individuals.
"We are still very comfortable," Sukthankar told a news conference, adding "no serious large chunky" corporate account had contributed to the rise in the bad loans.
For More Information Stock advisory company indore,Share Market Tips,stock advisory tips,best stock advisory company in indore,Nifty Future Tips,currency Tips,Stock Option Tips, F&O Tips,stock cash tips,Nifty Option Tips,Bullion tips And call us :-9827808090.
Analysts on average had expected a net profit of 32.52 billion rupees, according to data compiled by Thomson Reuters. Gross bad loans as a percentage of total loans rose to 1.04 percent as of June 30 from 0.94 percent as of end-March, which the bank's deputy managing director Paresh Sukthankar said was driven by small-and-medium corporate borrowers and individuals. 
No comments:
Post a Comment