India's HDFC Bank says not much pressure on asset quality

MUMBAI Fri Jan 18, 2013 3:27pm IST

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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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