HDFC's NIM has risen to 3.6% from 3.5% last year, while the spread has been stable at 2.29%, according to Keki Mistry. He expects mid-to-high teens growth even next year and strong growth following the merger between HDFC and HDFC Bank expected to be complete by July 2023. Asset repricing may have contributed to the growth, with a contract specifying changes in interest effective at the end of a three-month period.
