HDFC, HDFC Bank, HDFC AMC and HDFC Life were underperforming the market by falling in the range of 3 per cent to 4 per as against a 1.7 per ent decline in the S&P BSE Sensex.
HDFC Bank's quarterly show was in-line; Bajaj Finance was ahead on some metrics but low penetration of new app disappointed
In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks and ended up to 0.6 per cent higher.
A decline in payment and credit card-related fees from a year ago - as the bank gave fee waivers as an incentive - was a new niggle for the lender to contend with
HDFC Bank and HCL Technologies are likely to react to Q3 numbers this morning. While the former reported 18 per cent YoY growth in net, the latter too beat Street expectations.
According to RBI data, at the end of August 2021, HDFC Bank's outstanding credit card base stood at 14.74 million
Live news: HDFC Bank reports an 18 per cent rise in profit, year-on-year, for the third quarter; Maruti increases vehicle prices.
Net interest income jumps 13% to Rs 18,443.5 crore in Q3FY22, backed by a 16.5% growth in advances
The lender's net interest income, the difference between interest earned and interest expended, grew by 13% to Rs 18,443.5 cr in Q3FY21
Overall, analysts expect NIMs to be around 4.11-4.20 per cent. In Q3FY21, NIM was 4.2 per cent, and it was 4.10 per cent in Q2FY22.
HDFC Bank's integration with Central Board of Indirect Taxes and Customs ICEGATE platform has gone live, allowing customers to pay for their customs duty directly via the bank
Essentially, systemically important banks are the ones perceived as too big to fail. Such a perception creates an expectation of govt support for these banks at times of distress
HDFC Bank's retail loans grew by around 13.5 per cent yoy and 4.5 per cent over September 2021 based on its internal business classification.
The mortgage lender keeps liquidity buffers worth Rs 55,000 cr
November spends are still higher than pre-Covid levels, with 43% YoY growth
About 90 per cent of IPPB customers reside in rural areas
While RIL, TCS, Infosys, HUL and Wipro were the gainers, HDFC Bank, ICICI Bank, HDFC, Bajaj Finance and SBI emerged as laggards
HDFC Bank's efforts in furthering financial inclusion through partnership with the Government of India's Common Service Centres (CSC) have been adjudged 'Most Innovative Best Practice' for financial inclusion at the coveted CII Digital Transformation Award 2021.HDFC Bank focuses on financial inclusion by offering entire bouquet of its world-class products through CSC's network of VLE centres:*1.1 lakh VLE (Village Level Executive) centres run by CSC e-Governance*Of these, over 1 lakh VLE centres are in Rural & Semi-Urban locations*These locations cover close to 50,000 villages across India*These villages are spread across 685 districts and 5,176 sub-districts*Additionally, the bank has 5,686 branches across 2929 cities/ towns - 50 per cent of these are located at Rural & Semi-Urban locations.Partnering with CSC entailed 'creating a parallel bank' for over 1 lakh village-level entrepreneurs, manning the VLE centre, who would offer all products and services of the bank, in ..
The bank was the second largest bank in the state with a market share of over 10 per cent, it said
The country's licensing policy for financial institutions is past its sell-by date. Innovative solutions are out there but require regulation.