HDFC Bank posts 34% rise in net profits for Q1
By Vaibhav Aggarwal
Jul 20, 2011
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Private sector lender HDFC Bank has booked 34% rise in net profits for the first quarter of this fiscal. The bank posted net profits worth Rs 1085 crore as compared to Rs 812 crore in the same period last year.

According to executive director Paresh Sukthankar, the bank expects its credit growth to be atleast 4-5% higher than industry average.

CASA deposits accounted for 49.1% of the share of total deposits of the bank.

"We deliberately did not pick up wholesale deposits because we raised Tier-II capital. We have continued to grow retail fixed deposits and CASA deposits," Mr Sukthankar said.

"The broad range for net interest margin in the last few quarters has been between 3.9 and 4.2 per cent and will continue to be so," he said.


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