HDFC Bank Ka Q3 Profit ICICI Bank Se Behtar, Provisions Ke Baad Bhi

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AuthorAarav Shah|Published at:
HDFC Bank Ka Q3 Profit ICICI Bank Se Behtar, Provisions Ke Baad Bhi
Overview

HDFC Bank ne ICICI Bank se behtar Q3 results diye hain, jisme 12% profit growth hua hai jabki ICICI ka profit 4% gira hai. Dono banks ne one-time provisions kiye, par ICICI Bank par iska zyada asar pada. Analysts filhaal cautious hain par dono pe 'buy' rating maintain ki hai, price targets adjust karke.

HDFC Bank Secures Q3 Lead

HDFC Bank ne ICICI Bank par Q3 earnings mein lead li hai. Lender ne profit-after-tax mein 12% year-on-year increase report kiya hai, jo ₹18,654 crore tak pahuncha, analyst expectations se zyada. Yeh performance ICICI Bank ke bilkul opposite hai, jiska profit-after-tax 4% girkar ₹11,318 crore ho gaya.

Provisioning and One-Off Impacts

Dono institutions ko Reserve Bank of India dwara misclassified agricultural priority sector lending ke liye additional provisioning ki requirements aayi. Halanki, ICICI Bank ki provisions ₹1,300 crore thi jo HDFC Bank ki ₹500 crore se kaafi zyada thi. HDFC Bank ne ₹800 crore wage provisions bhi absorb ki, lekin ise ₹900 crore ke trading gains ne offset kar diya. ICICI Bank ne ₹160 crore treasury losses aur ₹150 crore wage provisions report ki, jisse unke results par aur pressure pada.

Core Business Performance and Margins

Jabki one-off gains ne headline numbers ko affect kiya, core business performance mein gap kam hota dikha. HDFC Bank ke net interest margin (NIM) mein sequential basis par 8 basis points ka izafa hua, jo 3.35% ho gaya. ICICI Bank ke margin par seasonal farm slippages aur interest reversals ka asar pada, jisne loan yields aur credit costs ko affect kiya, aur margin kam ho gaya. ICICI Bank ne net interest income growth 8% report kiya (HDFC Bank ke 6% ke muqable), par HDFC Bank ki fee income 12% badhi, jo ICICI Bank ke 6% se zyada hai. Is wajah se HDFC Bank ka core pre-provisioning operating profit (PPOP) 8% grow hua, jo estimates se behtar hai aur ICICI Bank ke 6% growth se zyada hai.

Outlook and Analyst Views

Aage dekhte hue, industry credit growth FY27 ke liye 12-13% projected hai, jisme deposit repricing aur lower borrowing costs se margin expansion ki ummeed hai. HDFC Bank ka management wholesale credit mein recovery aur policy rate cuts ko pass on karne se NIM expansion ki wajah se, industry credit growth se 1-3% zyada perform karne ko lekar confident hai. ICICI Bank ka NIM stable rehne ki ummeed hai. Nuvama Institutional Equities ne dono banks par 'buy' rating maintain ki hai lekin ICICI Bank ka target price ₹1,750 se ghatakar ₹1,670 kar diya hai, jabki HDFC Bank ka target price ₹1,170 rakha hai.

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