India's HDFC Bank says not much pressure on asset quality
MUMBAI Jan 18 (Reuters) - India's HDFC Bank is not seeing much pressure on asset quality, although there may be an uptick in bad loans for some products, Executive Director Paresh Sukthankar said on Friday.
The bank is also seeing "renewed, intensified competition" from several banks on retail loan products, he added.
Earlier, HDFC Bank, India's No.3 lender, met forecasts with a 30 percent rise in quarterly profit on Friday, led by higher loan growth, better fee income and stable asset quality. (Reporting by Swati Pandey; Editing by Anand Basu)
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The BSE Sensex on Tuesday breached the psychologically key level of 27,000 points for the first time to hit its third consecutive record high as blue-chips such as HDFC Bank gained after recent data raises hopes about the economy. Full Article