We are upgrading our long-term recommendation on HDFC Bank Ltd. (NYSE:HDB) to “Neutral” from “Underperform”. The rise is based on the company’s significant exposure to the faster growing retail credit market and decent fiscal third-quarter results.
Moreover, we anticipate the continuously expanding branch network of the company to drive growth in deposits and loans. However, HDFC Bank is still exposed to the threat related to higher cost of funds and increasing competition in the retail … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards