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Between FY16 and FY19, the bank’s loans have grown by about 21 per cent CAGR (compounded annual growth rate).
Net interest margins have been steady at 4.3 per cent levels, while the bank’s cost-to-income ratio has fallen substantially to 39.9 per cent in FY19 (from 44.3 per cent in FY16).
Long-term investors can buy the stock at current levels.
Over the past few years, even as its peers have been dogged by asset quality issues, HDFC Bank has managed to keep its earnings in good stead.
Slowdown in corporate loans had affected growth in FY17.
They are being used to patrol Air Bases, Military Compounds, Ammunition Depots, Military Check Points, Leading Patrols and clearing Minefields.The growth was backed by strong uptick in corporate loan growth, even as there was a considerable slowdown in retail loan growth, owing to the underlying weakness in the four-/two-wheeler segments.