HDB - HDFC Bank Q2 EPS up 11% to ?14 as economic condition improves

HDFC Bank (HDB): FQ2 GAAP EPS of ?14.00 vs. ?12.6 in 2Q20.Total income of ?384.3B, up 4.7% Y/Y due to boost in other income partially offset by decline in interest earned.Provision other than tax and contingencies up by 1.7% Q/Q to ?44.2B."While there has been some improvement in economic activities during the current quarter, the continued slowdown has led to a decrease in loan originations, the sale of third party products, the use of credit and debit cards by customers and the efficiency in collection efforts. The slowdown may lead to a rise in the number of customer defaults and consequently an increase in provisions there against," the bank said in a staement.Net NPAs to net advances 0.17% from 0.33% at the end of Q2.Core net interest margin of 4.1%.Press Release, Pre

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HDFC Bank Q2 EPS up 11% to ?14 as economic condition improves