India’s largest private sector lender HDFC Bank delivered a strong set of earnings for Jan-March with profit rising 18.2% vs a year ago.
With earnings growth maintaining the 5-year average brokerages are most impressed with the bad debt numbers which have been contained to 1.32%
The management however provided no clarity of when the ban of issuing new cards will be lifted. HDFC Bank was barred from issuing any new credit cards on December 12, 2020, after a series of technical glitches