HDFC Bank Q2 Profit Rises as Executive Steps Down
HDFC Bank posted a second-quarter profit rise that narrowly missed estimates as weaker treasury income offset strong lending growth. The lender also announced that deputy managing director Kaizad Bharucha will step down in December.
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HDFC Bank LIMITED posted a standalone net profit of 195.10 billion Indian rupees ($2.05 billion) for the quarter ended September, rising 4.7% from a year earlier. The result in India narrowly missed analyst expectations due to weaker treasury income and higher provisions. The earnings report arrives just days before a leadership transition at the nation's largest private-sector lender.
