reports
- Nitin Aggarwal
MOSL : . HDFC BANK: Earnings in line; Core PPoP growth and margin imp...
HDFC Bank: Earnings in line; Core PPoP growth and margin improve (HDFCB IN, Mkt Cap USD97.5b, CMP INR1441, TP INR1800, 25% Upside, Buy) Asset quality robust; restructured book declines to 53bp HDFC Bank (HDFCB) reported an in-line quarter, with PAT up 20% YoY, aided by a pick-up in NII growth due to 10bp QoQ expansion in margin. PPoP growth remained modest at 10% YoY, adversely impacted by a treasury loss of INR2.5b. However, Core PPoP growth was healthy at ~17% YoY in 2QFY23. Business gro...
- Abhijit Tibrewal
MOSL:HDFC: NIM compression transitory, expect it to recover
HDFC reported a PAT of INR36.7b in 1QFY23 (8% miss), up 22% YoY. It reported a NIM compression of ~10bp YoY and 30bp QoQ at 3.4%. Credit costs rose ~7bp QoQ to ~36bp. Disbursements in the Individual segment grew 66% YoY to ~INR420b. Individual/total AUM rose 20%/17% YoY. The management guided at a strong pipeline in Non-Individual segment, which will translate into healthy AUM growth. With the merger announced, taking a view in isolation is difficult, but we feel that HDFC continues to have ...
- Nitin Aggarwal
MOSL: HDFC BANK (Buy)-Earnings/PPOP in line; asset quality robust
HDFC BANK: Earnings/PPOP in line; asset quality robust (HDFCB IN, Mkt Cap USD124b, CMP INR1686, TP INR2000, 19% Upside, Buy) Restructuring increased to 1.5% of loans; contingent provision provides comfort HDFCB reported an inline quarter with NII/PPoP growth of 12%/14% YoY and PAT growth of 18% YoY to INR88.3b (inline). Profitability came in strong despite creating an additional contingent provision of INR12b, thus taking the total buffer to ~INR78b (~0.65% of loans). The bank witnessed...
- Nitin Aggarwal
MOSL: HDFC BANK (Buy)-RBI lifts restriction for sourcing of new credit...
HDFC BANK: RBI lifts restriction for sourcing of new credit cards (HDFCB IN, Mkt Cap USD112.7b, CMP INR1515, TP INR1800, 19% Upside, Buy) , the Reserve Bank of India (RBI) have partially lifted the restrictions placed on HDFC Bank in Dec’20 and have allowed the bank to source new credit cards. However, the restrictions on new digital application launches will continue. The RBI move addresses the key overhang as HDFC Bank is the largest credit card issuer in the country and credit card seg...
With a more favourable environment, HDFC BANK improves to Slightly Pos...
HDFC BANK (IN), a company active in the Money Center Banks industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date February 19, 2021, the closing price was INR 1,539.10 and its poten...
- MarketLine Department
Oriental Bank of Commerce - Mergers & Acquisitions (M&A), Partnerships...
Summary Marketline's Oriental Bank of Commerce Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Oriental Bank of Commerce since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown ...
- Team Research
MOSL: HDFC BANK (Buy) 4QFY20 RESULT: High contingent provisions drive ...
(HDFCB IN, Mkt Cap USD63.2b, CMP INR910, TP INR1200, 32% Upside, Buy) Prudential provisioning to enable steady earnings trajectory* HDFC Bank (HDFCB) reported healthy business growth in 4QFY20, led by continued strength in its corporate portfolio while retail growth was soft. Operating performance stood flat as margin expansion was offset by lower fee income due to the COVID-19 impact. Further, the bank has made contingent provisions of INR15.5b, which affected earnings. ** We have fine-tuned ...
- Nitin Aggarwal
MOSL: HDFC BANK (Buy)-Business growth robust; Asset quality deteriorat...
(HDFCB IN, Mkt Cap USD98.5b, CMP INR1278, TP INR1500, 17% Upside, Buy) Prudential provisioning to enable steady earnings trajectory** HDFCB reported core PPoP growth of 19% YoY while elevated provisions resulted in PBT growth of 16% YoY. PAT at 33% YoY was aided by lower tax rate. Slippages were elevated though the operating performance remained strong with stable margins, robust fee growth and improving C/I ratio. ** We fine-tune our estimates factoring in strong other income and higher provi...
- MarketLine Department
Oriental Bank of Commerce - Strategy, SWOT and Corporate Finance Repor...
Summary Oriental Bank of Commerce - Strategy, SWOT and Corporate Finance Report, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360Ëš view of the company. Key Highlights Oriental Bank of Commerce (OBC) provides banking and treasury services to individual customers, agricultural sector, and SMEs, and MSMEs, government sector, small-scale industries i...
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