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HDFC Bank Ltd. reported net interest income and operating profit before provision and growth of 12% and 14% year-on-year respectively, in line with expectations.
The net interest margin remained stable during the quarter at 4.1%, despite smaller slippages and an increase in the traction of current accounts and savings / retail / small and medium-sized business accounts, including profits ‘will gradually accumulate over the following quarters.
The slip ratio at 1.8% was better than expected, which, together with better recoveries, contributed to a sequential decline in the gross ratio of non-performing assets.
However, HDFC Bank has restructured Rs 147 billion or 1.2% as part of the 2.0 resolution plan, with a total pool restructured at 1.5% of loans.
However, management does not expect more than 10 to 20 basis points of gross impact on non-performing assets for this reason.
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