HDFC Bank

Besides, the bank's net interest income rose to Rs 17,009.0 crore from Rs 15,665.4 crore for the quarter ended June 30, 2020. "During the quarter, the country was hit by a 'second wave' of Covid-19, with a significant surge in cases following the discovery of mutant coronavirus strains. While there was an improvement towards the end, business activities remained curtailed for almost two thirds of the quarter."

Accordingly, HDFC Securities, expects banks to remain selective in restructuring stressed assets. "We believe that NBFCs (lender category) and the MSME sector (borrower category) are likely to witness the highest amount of restructuring," the brokerage firm said in a report. Besides, the firm expects a stop-start pattern in loan disbursements during Q1FY22, particularly in retail.

In his statement to the shareholders in HDFC Life's Annual Report, Parekh cited examples in Asia and more developed markets where life insurers have created subsidiaries and orchestrated ecosystems to make insurance a more holistic offering for the customer. "While we continue to invest to enhance our technological capabilities" he said.

Accordingly, the personal loan segment witnessed further improvement in growth at 12.6 per cent YoY, after hitting a 10-year low of 9.1 per cent YoY in January. "This was led by growth in home loans and other personal loans. Growth in credit card receivables improved to 17.1 per cent YoY," HDFC Securities said in a report.

The Bank will continue to incorporate and scale up the use of renewable energy in its operations. As part of its ESG (Environmental, Social and Governance) strategy, the Bank will also focus on offering loans for green products like electric vehicles at lower interest rates and incorporating ESG scores in its credit decisions. The Bank is also working on a framework for issuing green bonds.

Private sector HDFC Bank on Friday announced organisational rejig under 'Project Future-Ready' for the next wave of growth. In a statement, it said it is reorganising itself into three areas, viz business verticals, delivery channels and technology/digital to be ready for the future and capitalise on the opportunities.

Immediate medical help from a nearby hospital will be made available, if required, it said, adding that these are part of a host of measures taken to offer holistic care to its employees and their dependents.

Vibha Padalkar, MD and CEO of HDFC Life Insurance Company Ltd told the media that Covid-19 survivors are now coming for life insurance, more so post the raging second wave of the pandemic. The Covid situation has led to higher awareness around the need for protection and the inadequacy of the current insurance coverage, she said.

The bank's net profit for the fourth quarter of FY21 rose to Rs 8,186.5 crore on a YoY basis. "After providing Rs 2,652.6 crore for taxation, the bank earned a net profit of Rs 8,186.5 crore, an increase of 18.2 per cent over the quarter ended March 31, 2020," HDFC Bank said in a statement.

"Along with developing electric products in-house, OEMs are open to collaborations, to reduce the speed-to-market as well as maintain capital efficiency," HDFC Securities said in a report. "Part suppliers are attempting to segment agnostic, developing components for ICE, hybrid and EV products."