HDFC Bank Q4 PAT up 9% 47 analysts remain Buy
HDFC Bank just dropped its fourth-quarter results, and all 47 analysts are still saying "Buy."
The bank's profit after tax went up by 9%, mainly because it kept costs and provisions in check.
Net interest income grew by 3%, not quite what experts hoped for, and margins felt some pressure.
Still, the big picture is positive, though there are a few worries about who'll lead next and some unresolved legal issues.
Loans 12% deposits 14% brokerages bullish
The bank's loans and deposits grew by 12% and 14%, making its funding position stronger.
Asset quality is looking good too, with nonperforming assets staying low.
Even with questions around leadership succession and ongoing legal matters (like the Dubai-related issue), top brokerages like Morgan Stanley, CLSA, UBS, and JPMorgan remain optimistic about HDFC Bank's future.