January 18, 2013 / 10:02 AM / 5 years ago

HDFC Bank says not much pressure on asset quality

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A customer walks outside an HDFC Bank branch in Mumbai November 17, 2012.Vivek Prakash/Files

MUMBAI (Reuters) - HDFC Bank(HDBK.NS) 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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