Treasury income for HDFC Bank is subdued from the last 3 quarters although ICICI Bank has done relatively better.
Any thoughts?
Data:
| Treasury | |||||
|---|---|---|---|---|---|
| ICICI | |||||
| Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | |
| Revenue | 22147 | 20022 | 18358 | 17444 | 17090 |
| Result | 4151 | 3042 | 2609 | 2323 | 2051 |
| % PBT | 19% | 15% | 14% | 13% | 12% |
| HDFC | |||||
| Dec-22 | Sep-22 | Jun-22 | Mar-22 | Dec-21 | |
| Revenue | 9551 | 7910 | 7380 | 7899 | 9192 |
| Result | 775 | 12 | 266 | 1384 | 2531 |
| % PBT | 8% | 0% | 4% | 18% | 28% |
| % Treasury PBT of Overall PBT | 5% | 0% | 2% | 11% | 18% |
Source: Quarterly Results
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