HDFC Bank Q3 net profit jumps 18.5% to Rs 12,259.5 crore

Its net interest income (NII) rose by 24.6 per cent to Rs 22,987.8 crore from Rs 18,443.5 crore in the year-ago quarter.

Gross non-performing assets (GNPAs) stood at 1.23 per cent of gross advances, compared to 1.26 per cent as on December 31, 2021.

Net non-performing assets were at 0.33 per cent of net advances compared to 0.37 per cent in the same quarter of the previous fiscal. Provisions and contingencies in the quarter stood at Rs 2,806.4 crore as against Rs 2,994.0 crore. The total credit cost ratio was at 0.74 per cent, as compared to 0.94 per cent. The capital adequacy ratio (CAR) was at 19.4 per cent as on December 31, 2022 compared to 19.5 per cent. Its tier 1 capital adequacy ratio (CAR) stood at 17.2 per cent compared to 18.4 per cent. Common equity tier 1 capital ratio was at 16.4 per cent and risk-weighted assets were at Rs 1,536,272 crore as against Rs 1,267,426 crore.

The cost-to-income ratio for the quarter was at 39.6 per cent.

The bank’s total advances rose 19.5 per cent to Rs 1,506,809 crore from Rs 1,260,863 crore. Domestic retail loans grew by 21.4 per cent, commercial and rural banking loans grew by 30.2 per cent and corporate and other wholesale loans grew by 20.3 per cent. Total deposits increased by 19.9 per cent to Rs 1,733,204 crore in the quarter ended December 2022 from Rs 1,445,918 crore in the corresponding quarter of previous fiscal. Current account savings account (CASA) deposits grew by 12 per cent with savings account deposits at Rs 535,206 crore and current account deposits at Rs 227,745 crore.

As of end-December, the bank’s distribution network was at 7,183 branches and 19,007 ATMs / cash deposit and withdrawal machines (CDMs) across 3,552 cities. Around 51 per cent of its branches are in semi-urban and rural areas.

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