In an interaction with Rahul Jain, managing director of global investment research at Goldman Sachs India Securities Pvt Ltd, Jagdishan gave an overview of the loans and deposits in HDFC Bank’s balance sheet post the merger.
HDFC Bank share price has been on a downward trend, falling over 15 percent in the last 1 year and almost 17 percent in 2024 YTD. Despite the recent correction, global brokerage house Morgan Stanley sees over 49 percent upside in the largest private sector lender.
HDFC Bank announced that its home loan business experienced a stable and healthy double-digit YoY growth for two quarters, ending December 31, 2023. The growth in sales turnover has come on the back of a wider distribution network with a 3.6 percent sequential growth as of December 2023.
While the private lender’s earnings will be materially impacted in the near term, merger does not permanently impair HDFC’s Bank’s long-term earning potential