April 23, 2013 / 10:01 AM / in 5 years

India's HDFC Bank seeing stability in asset quality-exec

MUMBAI, April 23 (Reuters) - HDFC Bank Ltd, India’s No.3 lender by loan value, is seeing stability in asset quality but weakness continues in construction equipment loans, executive director Paresh Sukthankar told reporters on Tuesday.

Commercial vehicles and construction equipment account for about 16 percent of the bank’s retail loan book, he said.

Earlier in the day, the bank said it met forecasts with a 30 percent rise in quarterly profit led by higher loan growth, fee income and stable asset quality.

Reporting by Swati Pandey; Editing by Sunil Nair

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