HDFC Bank on a crest!

By Pradeep Yuvaraj | September 20, 2011

According to a recent press report, HDFC Bank (BCCL) has said that the bank’s net profit has increased to 31.5% more than the Predicted limit. The Bank is constantly maintaining the net interest and asset quality.

Reports said that the Bank have always moved ahead of the market expectations for the past several quarters and has proved that they are the consistent performers. The bank’s net profit has increased from Rs 9.12 billion to Rs 11.99 billion.

According to the New York Reuters Poll the net profit for the bank was estimated as Rs 11.6 billion, but the Bank Profit is more than that.

The Central Bank is increasing the interest rates to control the inflation and it has already increased the rates 12 times from March. The banks non-Performing Asset fell from 1.16 percent to 1 percent, the Bank also withstand its good position in the maintenance of Asset quality among the other Private Sector Banks.

HDFC Bank Limited is a major Indian financial services company based in India, incorporated in August 1994, after the Reserve Bank of India allowed establishing private sector banks. The Bank was promoted by the Housing Development Finance Corporation, a premier housing finance company (set up in 1977) of India.  It was among the first companies to receive an ‘in principle’ approval from the RBI to set up a bank in the private sector. The Bank started operations as a scheduled commercial bank in January 1995 under the RBI’s liberalization policies. It offers home loans, personal loans, new and used car loans, gold loan, education loan etc.

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About Pradeep Yuvaraj

Pradeep Yuvaraj is a Co-Founder and Director at Finerva Financial Solutions Private Limited, a financial education company focused on personal finance education. He has penned over 250 articles relating to Personal Finance and clocked over 500 hours of educating individuals on managing personal finance. He is a serial entrepreneur and has been associated with 7 Start-ups. His entrepreneurial experience spans industries as varied as Education, Gas Engineering, Automobile Design, Software development and more recently a Pure play presentation design company. Prior to turning entrepreneur in 2005, he has worked for 3 of the top ten companies of the world - Shell, ExxonMobil and Total SA. This experience included handling Branch Operations, Channel Sales and Business Development across 5 states over a period of 8 years. He holds an MBA from Symbiosis and an Electronics Engineering Degree from the University of Pune.

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