HDFC Bank Q3 Results Review - Wholesale Loans De-grow Due To Unattractive Pricing: Yes Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Yes Securities Report.Wholesale loans (excluding inter-bank participation certificate) de-grew down 1.1% QoQ since HDFC Bank deliberately gave up about Rs 300-400 billion worth of wholesale loan business due to unattractive pricing. Management averred that there is no problem with wholesale loan demand, which is coming in from the non-banking financial companies, public sector undertaking, retail and infra segments and weakness in wholesale loan growth for the bank may be transient.HDFC Bank added 684 branches during the quarter, taking branch count to 7183. Also, 978 branches were activated for gold loans during the quarter, taking branches activated for gold loans to 3938. On the employee front, 5863 people were added during the quarter. There was a tranche of restricted stock units and employee stock ownership plan cost worth Rs 2.5-3 billion. Slippages for the quarter were Rs 66 billion or 42 bps of advances (non-annualised). Covid-19 restructured book amounted to Rs 64 billion or 42 bps of advances..Click on the attachment to read the full report:.More Research Reports On HDFC Bank's Q3 FY23 Results Review .Stable Quarter; Slight Surprise On Net Interest Income: Dolat Capital Beat In Estimates; Deposits Accretion Remains Key: ICICI DirectCredit Growth Slightly Down; Stable Net Interest Margins: IDBI CapitalInline Earnings; Core PPoP Growth Improves: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

HDFC Bank Q3 Results Review - Wholesale Loans De-grow Due To Unattractive Pricing: Yes Securities

Mgmt averred that there is no problem with wholesale loan demand, which is coming in from the NBFC, PSU, retail, infra segments

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