HDFC Bank share price rebounds
HDFC Bank's share price rebounded from its intraday low after the bank reported its Q1 results.
The bank's net profit for Q1 was ₹7,729.64 crore, up 14.36% YoY.
HDFC Bank's net interest income (NII) for Q1 was ₹17,009 crore, up 8.6% YoY.
The bank's gross non-performing assets (GNPAs) ratio was 1.47% as of June 30, 2021.
HDFC Bank's provisions and contingencies for Q1 were ₹4,830.84 crore, up 48.6% YoY.
The bank's advances grew by 14.4% YoY, while deposits grew by 13.2% YoY.
HDFC Bank's management expects loan growth to be in the mid-teens for FY22.
The bank's digital initiatives continue to drive growth, with digital transactions accounting for 50% of all transactions.
Investors should consider HDFC Bank's strong financials and growth prospects before buying.
However, investors should also be aware of the bank's high valuations and regulatory risks.
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