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India's HDFC Bank quarterly profit rises 4.7%, narrowly misses estimates as treasury income slumps
MUMBAI: India’s largest private-sector lender, HDFC Bank, reported a second-quarter profit on Saturday that narrowly missed analyst expectations, as weaker treasury income and higher provisions for bad loans offset strong lending growth. The results come days before a leadership change at the Mumbai-based lender. Anup Bagchi, a veteran of the ICICI group, takes over as managing director and CEO for three years from October 27, becoming HDFC Bank’s first external chief executive. Bagchi takes charge amid increased scrutiny of the bank’s governance, profitability and operational performance. The...
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