Mumbai, Oct 10: HDFC Bank, the country’s second largest private-sector bank, said on Friday its quarterly profit rose 31 per cent on a boom in retail loans and strong trading gains. The New York Stock Exchange listed-bank said its net profit rose to Rs 117 crore in the second quarter ended September 30, according to the Bombay Stock Exchange (BSE). That compared with a profit of 897 million rupees reported a year earlier.

The median of net profit estimates in a Reuters survey of 11 brokerages released on Thursday was Rs 115 crore.
Indian banks have been reporting strong growth in earnings over the past two years thanks to a surge in retail loans as interest rates fell to 30-year lows while trading gains surged as bond yields slumped to recod lows.

Rival ICICI Bank , India's No.2 commercial bank, is expected to report a 21 per cent rise in net profits to Rs 340 crore while industry leader State Bank of India is seen announcing an 18.5 per cent growth in profits to Rs 990 crore. Bureau Report