HDFC Bank, Axis Bank Q1 Net Profit Surges on Retail Loan Expansion

Leading private sector lenders HDFC Bank and Axis Bank announced impressive double-digit net profit growth for the quarter, bolstered by robust credit demand from Indian households and commercial enterprises.

Retail advances, spanning residential mortgages, vehicle financing, and personal credit lines, expanded by 17.5% year-on-year. Furthermore, gross non-performing asset (GNPA) ratios reached multi-year lows, underscoring resilient borrower solvency.

Both financial institutions maintained stable net interest margins (NIMs), benefiting from optimized cost-of-funds management and expanding digital transaction volumes.