Top private lender HDFC Bank is slated to announce its financial results for the quarter through June today.
Brokerage K R Choksey Shares and Securities expects 20 per cent YoY growth in advances along with stable net interest margin (NIM).
The brokerage house also expects elevated provisioning to continue. “We expect the bank to report net profit of Rs 4,960 crore. Deposits are expected to continue to show strong traction,” K R Choksey in a report said.
Commentary on growth outlook for, increasing competition in the retail space and consequent margin pressure are up in focus, along with credit cost guidance.
Shares of the lender settled 0.20 per cent up at Rs 2,190.10 on Friday.
Kotak Institutional Equities projected 20.60 per cent YoY rise in net profit in Q1 while NII may jump 18.20 per cent. Pre-provision profit may increase by 14.60 per cent for the three months to June.