HDFC Bank says not much pressure on asset quality

Source : REUTERS
Last Updated: Fri, Jan 18, 2013 10:12 hrs
A customer walks outside an HDFC Bank branch in Mumbai

HDFC Bank is not seeing much pressure on asset quality, although there may be an uptick in bad loans for some products, Executive Director Paresh Sukthankar said on Friday.

The bank is also seeing "renewed, intensified competition" from several banks on retail loan products, he added.

Earlier, HDFC Bank, India's No.3 lender, met forecasts with a 30 percent rise in quarterly profit on Friday, led by higher loan growth, better fee income and stable asset quality.

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