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LKP Research’s research report on HDFC Bank
HDFC Bank reported mixed operating performance in 4QFY24. The slippages increased by 4.3% sequentially added by stable recoveries and upgrades, which resulted in improved GNPA ratio at 1.24%. The reported GNPA is below the historical trend of 1.4%. Furthermore, the contingent stands adequate. In 4QFY24, the provisioning expenses were higher sequentially at ₹135bn (v/s ₹42.1bn 3QFY24). At the same time NII growth was tepid sequentially (24.5% YoY, 2.1% QoQ) against…
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