HDFC Bank has reported a 17.7 per cent rise in net profit at Rs 6,927.7 crore during the fourth quarter ended March 31, 2020 as against Rs 5,885.12 crore in the same period of last year, even as the lockdown impacted its business volumes. However, net profit was down by 6.58 per cent from Rs 7,416 crore in the third quarter ended December 31, 2019. Total income increased by 15.1 per cent to Rs 35,917 crore in the March quarter from Rs 31,204 crore a year ago. Follow Indian Express Covid-19 tracker for latest updates During the quarter, there was a considerable slowdown in economic activities following the outbreak of the coronavirus pandemic across the world, the bank said. “Furthermore, with the government initiating lockdown in the latter half of March, and our strict adherence to social distancing, not only did we see an impact on business volumes in terms of loan originations, distribution of third party products, and payments product activities, but we also could not optimise our collection efforts, as a result of which fees/other income were lower by Rs 450 crore,” the private lender said. Gross non-performing assets were at Rs 12,646 crore (1.26 per cent of gross advances) as of March 2020 as against Rs 11,224 crore (1.36 per cent) as of March 2019. Total deposits as of March 2020 were Rs 1147,502 crore, an increase of 24.3 per cent over March 2019. “The bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 132 per cent, well above the regulatory requirement,” it said. Total advances Q4 were Rs 993,703 crore, an increase of 21.3 per cent over March 2019. As per regulatory segment classification, domestic retail loans grew by 14.6 per cent and domestic wholesale loans grew by 29.3 per cent. Total personal loans amounted to Rs 115,557 crore, auto loans Rs 83,935 crore and home loans Rs 63,445 crore.
