India’s HDFC Bank Beats Estimates on Strong Loan Growth

HDFC Bank Ltd., India’s largest private sector lender that faced a setback following the abrupt exit of its chairman last month, reported better-than-expected results on strong loan growth.

Net income rose 9% to 192.21 billion Indian rupees ($2.1 billion) in the three months ended March from a year earlier. That beat the average analyst estimate of 182.35 billion rupees in a Bloomberg survey.