HDFC Bank posts 34% rise in profit
Mumbai, July 19: Leading private sector lender HDFC Bank on Monday reported a robust 34 per cent increase in its June quarter profit at Rs 812 crore on the back of strong loan growth, and sounded bullish about the next quarter saying it will grow above the industry average.
The second largest private sector lender expects a better-than-industry growth in its advances in the coming quarters and is optimistic to maintain its net interest margin to be “fairly stable” at 4.2-4.3 per cent, its executive director, Mr Paresh Sukthankar, told newsmen here on Monday after announcing the first quarter numbers that met market outlook.
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