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HDFC Bank profit rises 2.2%, NPAs up by 16%

Similarly, net non-performing assets (NNPA) rose to Rs 11,588 crore, with the NNPA ratio increasing by 15 basis points to 0.46 per cent from 0.31 per cent a year ago.

Gross non-performing assets, GNPA, HDFC Bank, HDFC Bank profit, HDFC Bank revenue, Indian express business, business news, business articles, current affairs

Total deposits stood at Rs 25.6 lakh crore as of December 2024, registering a 15.8 per cent YoY growth, while total advances rose 3 per cent to Rs 25.4 lakh crore during the same period.

HDFC Bank, India’s largest private sector lender, reported a 2.2 per cent year-on-year rise in standalone net profit to Rs 16,736 crore for the quarter ended December 2024 as against Rs 16,372 crore a year ago.

Gross non-performing assets (GNPA) increased to Rs 36,018 crore as of December 2024, up 16 per cent from Rs 31,011 crore a year ago, mainly due to rise in farm loans. Consequently, the GNPA ratio expanded by 18 basis points to 1.42 per cent from 1.26 per cent in the same period last year.

Similarly, net non-performing assets (NNPA) rose to Rs 11,588 crore, with the NNPA ratio increasing by 15 basis points to 0.46 per cent from 0.31 per cent a year ago.

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The bank’s shares rose 1.42 per cent to Rs 1,665.05 on the BSE on Wednesday.

Provisions for the quarter declined to Rs 3,154 crore from Rs 4,217 crore in the same period last year, reflecting a 25 per cent reduction.

The bank’s net interest income, which is the difference between interest earned and paid, rose 8 percent to Rs 30,690 crore during the quarter. But net interest margin for the quarter was flat at 3.4 per cent compared to 3.5 per cent in the September quarte

Total deposits stood at Rs 25.6 lakh crore as of December 2024, registering a 15.8 per cent YoY growth, while total advances rose 3 per cent to Rs 25.4 lakh crore during the same period.