HDFC Bank Limited is a banking company whose market capitalization 7,66,314.71 crores. HDFC Bank is one of the largest private banks in India with 6,342 branches and 18,130 ATMs spread across 3,188 cities and towns. ICICI Securities maintains buy recommendation on the stock with a target price of 1,955, representing an increase of 41.64 percent from the previous trading value of 1,379.
According to the brokerage, HDFC Bank is increasing its stake in wallet and product holdings for existing-to-bank (ETB) customers. It has re-imagined the supply chain landscape. The identified growth opportunities include: i) new-to-bank (NTB) corporate customers, ii) corporates who wish to harness the benefits of the PLI scheme, iii) becoming the largest and most preferred bank for MNCs.
ICICI Securities has said, “In Retail Banking, the Bank has launched India’s first digital end-to-end car loan disbursement engine. It is expected to launch digital end-to-end solutions for NTB customers for personal loans by Q3FY23.” The Bank will also increase its disbursement presence for Gold Loans by 3 times and introduce products across India by Q4FY23. By providing technology globally through Aided (Rural) and Unaided (Urban) travel The bank differentiates in the digital/technological landscape (7x UPI switch volume in 3 years, 3x growth in core banking transaction volume, 4.4bn ATM switch transactions in FY22) experience.”
The brokerage has also claimed that “the bank will launch Payzapp 2.0 mobile commerce payment app, which will facilitate onboarding of the customer without any interruption and make all payment forms (UPI, Card, BNPL, Wallet, etc.) Will accept offline and online merchant acceptance points across spending categories. Other digital initiatives include the Turbo No Touch digital card program, a self-service digital platform for access and service card payments, SmartHub Vyapar 2.0.”
“The commercial and rural banking segment, an enabler for 60-70% of the bank’s PSL requirement, has the potential to grow at a rate of 25-30% in FY13, equivalent to the outstanding book for FY2012, FY2013 aims to achieve the distribution of It will double its revenue by FY25 and can consistently deliver over 3% RoAs. The strategy is focused on geographical expansion, market share capture, customer acquisition and deep village penetration.”
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