Earnings Report /

Housing and Development Bank: 1Q21 – Strong start to the year despite lower margins; Balance sheet grows

  • Sequential growth driven by non-interest income, lower opex and provisions reversals.

  • Bottom line annual growth was limited by lower provision reversals and higher comparative effective tax rate.

  • Loans grew in 1Q21 by 3% q/q while deposits grew at a faster pace of 8%, bringing loan-to-deposit ratio to 43%.


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