Mumbai: HDFC Bank has reported a significant increase in restructured loans under the Covid relief scheme.
Analysts are worried that most of these loans may turn into non-performing assets (NPA).
On the positive side, the Bank has reported an increase in the NPA Gross ratio of 12 basis points (100bps = 1 percentage point) of quarter to 1.35%.
His subsidiary HDB Financial Services also reported an increase in GNPA to 6.1% from 7.8% in the quarter in accordance last year.
“However, the restructuring pool for banks jumped sharply a quarter of Rs 20,300 Crore (1.7% loan vs 0.68% in Q1), especially led by liberal restructuring in personal loan books.
As a wise strategy, the bank made an additional rs 1,200 crore.
Overcoming analyst on Saturday, Bank Jimmy Tata HDFC credit officer said, “The restructured loan is considered when making provisions.
If there will be another surprise, the balance sheet needs to be far more resilient, historically we have conservative and our attitude has not changed “.
He added that the bank was monitoring a restructured loan portfolio based on pre-and post-covid borrowing behavior.” We don’t think the impact will be More than 10-20bps on our NPA anytime, “he said.
The largest personal lender in the country on Saturday reported Rs 8,834 crore’s net profit for the quarter ended September 2021, up 18% from the previous year.