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21st Sep 16 HDFC Bank Tops List of 50 Most Valued Brands In 2016
HDFC Bank came out as the most valuable brand in a list of 50 Most Valuable Brands for a third consecutive year, with a brand value of 14.4 billion dollar. The financial zone made the largest involvement to overall value, but multiple sectors including auto and consumer goods has also shown large growth. HDFC Bank, Kotak Mahindra Bank and Axis Bank were a part of the top 10 list. IndiGo and Jet Airways from the airline sector also gained the position of 26 and 30 for the first time this year.
27th Jul 16 HDFC reported 38% increase in Q1 results
As per the results of Q1FY17 , Housing Development Finance Corp. Ltd (HDFC) reported a 37.5 percent increase in its Net Profit to Rs 1,870.7 crore. This was largely due to one-time gain of Rs.725 crore on the sale of a 22.9 percent stake in HDFC ERGO General Insurance Co. Ltd.
Total Income from operations increased by 19.4 percent year on year to Rs 8,382.3, while Net Interest Income, showed a growth of 9 percent to Rs 2,229.15 crore. Asset quality was stable in the current quarter, with Gross NPAs ratio of 0.75 percent compared to 0.7 percent as on FY16 . Provision for contingencies showed a significant increase of 580 percent on a yearly basis, but compared to last quarter, it registered a decline of 37.6 percent Provisions for contingencies included an additional one time provision of Rs 275 crore towards standard assets and other contingencies.
21st Jul 16 HDFC Bank Q1 profit increases by 20%
As per results of quarter ended June 2016, HDFC Bank Profit increased by 20.14 percent year on year to Rs 3,239 crore due to a growth of 21.8 percent in its Net interest income .
Asset quality showed mild signs of weaking with Provisions for bad loans increased by 19 percent yoy and 30.8 percent qoq. During the quarter. its Gross NPA rose by 10 basis points to 1.04 percent and net NPA rose by 4 bps to 0.32 percent
06th Jul 16 HDFC Bank aims to double SME Book in four years
HDFC Bank is targeting to double SME loan portfolio over the next four years by using digital technology and deepening its network to more non metro areas. At present, the bank has a relationship with 1 lakh of the 3.6 crore SMEs in the country and wants to increase its share by expanding into newer geographies. The share of non metro areas has gradually grown to constitute 65 percent of the customers. The bank also launched a digital offering for the SMEs through which the small businesses will be able to do all its banking transactions online.
01st Jul 16 HDFC Bank launches digital banking services for SME clients
HDFC Bank has launched digital banking services for its small and medium enterprises (SME) clientele. It will allow clients to access the complete range of services instantly and anytime through their desktop, laptop, tablet or mobile. HDFC Bank provides banking services to about 100,000 SMEs across India. With this launch, SMEs will be able to get swifter approval of loans, letter of credit, bank guarantees. HDFC Bank has also launched a mobile app called Chillr, which allowed customers to transfer funds instantly to any contact in their phone book.