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

HDFC Bank says not much pressure on asset quality

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.

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

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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