HDFC Bank Share Price Hits New High After Q4 Results

HDFC Bank share price touched a new high of Rs 1,799.95 on January 20, 2023, after the bank reported a strong set of Q4 results.

The bank's net profit jumped 19.2% to Rs 12,250 crore in Q4FY23, driven by strong loan growth and healthy net interest margin (NIM).

HDFC Bank's loan book grew by 23.4% to Rs 15.46 lakh crore in Q4FY23, while its deposits grew by 19.5% to Rs 17.53 lakh crore. The bank's NIM expanded by 10 basis points to 4.1% in Q4FY23.

The bank's asset quality also improved, with gross non-performing assets (NPAs) declining to 1.24% in Q4FY23 from 1.33% in Q3FY23. Net NPAs also declined to 0.39% in Q4FY23 from 0.47% in Q3FY23.

HDFC Bank's strong Q4 results were driven by robust growth in retail and corporate loans, as well as a healthy NIM. The bank's improved asset quality is also a positive sign. HDFC Bank is one of the largest private sector banks in India and is known for its strong financials and customer service.

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