While the most valuable bank, HDFC Bank, reported an increase of more than 20% in Q1FY17 net profit for the second consecutive quarter, growth faded bottom line of its top line.
Interacting with reporters after the announcement of the results, the deputy general director Paresh Suthankar spoke about the reasons behind it and also how the Bank has made impressive advances and deposit growth.
Both segments have grown 24.5% exactly as rated by Basel II. From a commercial standpoint, the retail trade has grown slightly faster than the wholesale business. Two of the major components of the retail segment – cars and commercial vehicles (CV) – have grown by 18.9% and 18.8%, respectively. The credit card business has grown by 26%. Personal loans have grown by 41%.