Daily Brief Financials: HDFC Bank, Softbank Group, Greentown China, Profile Systems & Software and more

• Deposit growth has been decent and exceeded loan growth, allowing HDFCB to bring down its credit-deposit ratio. Average deposits grew 15%+ YoY, while loans grew at 7%+ YoY in Q3FY25.
• Despite tough macro environment, HDFCB was able to gain market share in deposits. Despite headwinds from tight liquidity leading to competitive pricing, HDFCB was able to maintain its NIM.
• HDFCB is benefitting from its productivity and technology-led enhancements with costs growing at just 7% YoY. Despite weak macro-economic environment, HDFCB’s asset quality has remained pristine, barring seasonality in Agri-loans.

• Global capital flowing into Australian logistics market as it reaches turning point, attracting investments.
• Japan REIT makes deals in Tokyo, buying Tokyo Tower for $120M and selling office block for $62M.
• CapitaLand India Trust acquires Bengaluru offices for $170M after project funding, expanding its portfolio.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

• China Vanke
• Greentown China
• UPL Ltd

• PROFILE SOFTWARE S.A. (the group or the company) offers innovative, award-winning and flexible software solutions developed with high quality standards for the banking and investment management industry.
• Continuous R&D invest- ments and close contact with clients and associates around the world allows the company to keep innovating and meet the growing market needs.
• The company’s vision and goal is to provide innovative software solutions that enable finan- cial institutions and corporations across the world to deliver their full potential to their clients.