HDFC Bank share price target 2024: HDFC Bank, India's largest private sector lender, on Saturday, announced the quarterly earnings for the period ending March 31, 2024. In the Q4 FY 2024 declared on April 20, 2024, HDFC Bank reported an increase in standalone profit at Rs 16,512 crore. The net interest income (NII) of HDFC Bank grew to Rs 29,077 crore, an increase of 24.5%. HDFC Bank also declared a dividend of Rs 19.5 per share for FY 2024.
HDFC Bank's Net Interest Margin was 3.44 per cent on total assets. "The credit environment in the economy remains benign, and the bank's credit performance across all segments continues to remain healthy. The bank's GNPA at 1.24% has shown an improvement over the prior quarter," HDFC Bank said in a regulatory filing.
HDFC Bank's total deposits grew by 26.4 per cent to Rs 23,798 billion. CASA deposits increased by 8.7 per cent. The bank's domestic retail loans increased 109 per cent, even as commercial and banking loans increased 24.6 per cent.
In Friday's session, HDFC Bank's shares closed at Rs 1,534.20 apiece, up 2.64 per cent. HDFC Bank's quarterly earnings were announced on Saturday, a day after the previous trading session. How the stock reacts to HDFC Bank's quarterly earnings on Monday, April 22, 2024, remains to be seen.