India's largest private lender HDFC Bank on Saturday reported a 18 per cent year-on-year growth in standalone net profit for the quarter ended March 2021 (Q4FY21) at Rs 8,186 crore. It was Rs 6,927.6 crore in the year-ago period (Q4FY20).
However, sequentially, the standalone net profit declined 6.5 per cent compared with Rs 8,758 crore in the December quarter (Q3FY21).
HDFC Bank Q4 preview: Just when India Inc was getting back on its feet, coming out from the Covid-19 pandemic-led disruption, the second wave of infections is making analysts wary of the recovery. Hence, when HDFC Bank reports its March quarter results (Q4FY21) on Saturday, April 17, all eyes would be on the management’s growth outlook.
If you have an account in State Bank of India, HDFC Bank, Punjab National Bank, Axis Bank, Bank of Baroda, HDFC Bank, then there is very important news for you, because in the coming days you may face problems in banking services. Banks will be closed for 7 days from March 27 to April 4, but in the meantime, another worrying news is that you may face problems in online banking as well.
HDFC Bank's MSME book grew 30 per cent year-on-year to cross the Rs 2-lakh-crore-mark as of December-end, mainly boosted by the pandemic-induced ECLG scheme under which it disbursed over Rs 23,000 crore.
The growth is also driven by a renewed push towards customers in semi-urban and rural areas, the bank has said.
Yes Bank on Tuesday said the loan repayments performance by its retail and small business borrowers has been better than expected, and only Rs 300 crore of the Rs 60,000-crore book has applied for the COVID-19-related loan restructuring scheme.
The collection efficiencies at about 95-96 per cent right now are back to the pre-COVID-19 levels of 97 per cent, its Global Head for Retail Business Rajesh Pental told PTI.
HDFC Bank has joined the elite club of Rs 8-trillion market capitalization (market-cap) on the BSE, as its share price hit a new high of Rs 1,464 in Wednesday's early morning deals. HDFC Bank, which is at number three position in overall market-cap ranking of listed companies, has become the first lender to achieve the milestone.
Shares of HDFC Bank hit a fresh record high today after rising nearly 2 per cent on the BSE. At 09:17 am, HDFC Bank had a market capitalisation of Rs 8.02 trillion, the BSE data shows. In comparison, the S&P BSE Sensex was up 0.54 per cent at 44,765 points, also the index's record high.
Shares of HDFC Bank rose 3 per cent to Rs 1,110 on the BSE on Monday after the bank reported strong loan growth of 21 per cent year on year (y-o-y) at Rs 1.04 trillion for the first quarter of financial year 2020-21 (Q1FY21).
The Bank’s advances aggregated to approximately Rs 1.04 trillion as of June 30, 2020, a growth of around 21 per cent as compared to Rs 8,297 crore as of June 30, 2019 (Rs 9,937 crore as of March 31, 2020), HDFC Bank said in an exchange filing.
Stocks traded in the green in the opening session on Thursday as market benchmark SENSEX jumped over 700 points and stood at 30,619.77, amid strong investment. Meanwhile, Nifty rose more than 200 points to 8,952.70.
Sensex components like HDFC, ICICI Bank, ONGC, Tech Mahindra, Axis Bank, and Hero MotorCorp were trading on a positive note. All NSE components were trading in the green, with Nifty Pharma and Financial Services gaining the highest.
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.