ICICI Direct has come out with its fourth quarter (Jan-March’ 18) earnings estimates for the Banking sector. The brokerage house expects HDFC Bank to report net profit at Rs. 4816.9 crore up 20.7% year-on-year (up 3.8% quarter-on-quarter).
Net Interest Income is expected to increase by 20.8 percent Y-o-Y (up 6.1 percent Q-o-Q) to Rs. 10,942.8 crore, according to ICICI Direct.
ICICI Direct’s earnings estimates on HDFC Bank
HDFC Bank’s performance is seen to remain consistent on growth as well as profitability. After reporting higher growth in advances in Q3FY18, advances growth is seen at 20.8% YoY to Rs. 668,068, led by a surge in the loan book in Q4FY17. Hike in MCLR is expected to keep margins stable at 4.2-4.3%. Led by healthy growth in advances and stable margin, NII growth is seen at 20.8% YoY to Rs. 10,943 crore. PAT growth is expected at 20.7% YoY to Rs. 4,817 crore. With AQR completed for FY17, asset quality is expected to remain stable with GNPA at 1.33%.
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