HDFC Bank Profit Rises 4.7% as Margin Pressure Persists Ahead of CEO Transition
HDFC Bank reported a 4.7% year-on-year rise in standalone net profit for the second quarter, supported by steady loan and deposit growth, even as margin pressure weighed on core profitability. Net interest income climbed 9.7%, but the lender’s earnings profile remained under strain as it prepares to welcome a new chief executive later this month, ending a prolonged period of succession uncertainty.
