HDFC Bank expected to post strong growth in Q4 profits
Apr 15, 2022
Mumbai (Maharashtra) [India], April 15 : India's largest private sector lender HDFC Bank is expected to announce strong growth in profit and earnings for the fourth quarter of 2021-22. The bank is scheduled to announce its Q4 results on Saturday.
As per various analysts and reports, HDFC Bank is expected to announce 18 to 40 per cent growth in net profit.
According to brokerage firm Edelweiss, HDFC Bank's net profit is expected to increase by 24 per cent to Rs 10,183 crore in January-March 2022 quarter.
During January-March 2021 quarter HDFC Bank had reported Rs 8,186.5 crore net profit.
As per Prabhudas Lilladher's estimates, HDFC Bank net profit is expected to surge by 40.5 per cent to Rs 11,503.6 crore.
Axis Securities expect 26.8 per cent increase while Kotak Securities has projected 19 per cent increase in HDFC Bank's profit.
HDFC Bank's financial result is keenly watched as it is to be announced just around two weeks after the announcement of merger deals with Housing Development Finance Corporation (HDFC).
The Board of Directors of HDFC Ltd and HDFC Bank at a meeting held on 3rd April approved a proposal of the merger of the two leading financial institutions. As per the terms of the deal, shareholders of HDFC Ltd will receive 42 shares of HDFC Bank for 25 shares held. Existing shareholders of HDFC Ltd will own 41 per cent of HDFC Bank.
The merger is likely to substantially increase HDFC Bank's market share. Currently, HDFC Bank has around 11 per cent market share, second only to State Bank of India (SBI).
