Following its merger with Housing Development Finance Corp., HDFC Bank Ltd. is set to announce its second quarter results on Monday. The bank is expected to report a net profit of Rs 14,120.2 crore and revenue of Rs 37,049.4 crore.
The bank’s current CASA ratio, a measure of deposits in current and savings accounts as a percentage of total deposits, stands at 37.6% in the September quarter. This marks a year-on-year decline of 780 basis points (bps). The CASA ratio is a key indicator of a bank’s financial health, with a higher ratio indicating a lower cost of funds.
In addition to HDFC Bank Ltd., several other firms including Federal Bank Ltd., ICICI Securities Ltd., and Bank of Maharashtra are also slated to announce their Q2 results today.
InvestingPro Tips suggest that HDFC Bank Ltd. has been consistently increasing its earnings per share and has raised its dividend for 3 consecutive years, which could make it an attractive option for dividend investors. Additionally, the bank has been profitable over the last twelve months and analysts predict it will continue to be profitable this year. It’s also a prominent player in the Banks industry and stockholders receive high returns on book equity.
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