in ,

HDFC Bank’s net profit rises 20% to Rs 10,605 cr in Q2

News Agencies

New Delhi, Oct 15: HDFC on Saturday reported a 20.1 per cent year-on-year (YoY) increase in net profit to Rs 10,605.8 crore in the July-September period.

The bank’s profit after tax rose 15.3 per cent from Rs 9195.9 crore in April-June.

For the quarter under review, the private bank’s net interest income, which is the difference between interest earned and interest expended, grew 18.9 per cent on-year to Rs 21,021.2 crore. India’s largest private lender said the core net interest margin was at 4.1 per cent on total assets and 4.3 per cent based on interest-earning assets.

As on September 30, HDFC Bank’s total deposits were at Rs 16.73 trillion, registering a growth of 19 per cent over the same time a year ago. Current account-savings account (CASA) deposits, which are low-cost deposits, grew by 15.4 per cent, with savings account deposits at Rs 529,745 crore and current account deposits at Rs 229,951 crore.

The CASA deposits accounted for 45.4 per cent of total deposits as on September 30, the bank said.

The strong growth in deposits comes at a time when shrinking liquidity in the banking system and a multi-year high in credit demand have pressured banks to raise funds.

As on September 30, HDFC Bank’s total loans were at Rs 14.79 trillion, up 23.4 per cent from a year ago. Domestic retail loans grew 27 per cent on-year for the period under review, while rural and banking loans grew 31.3 per cent. Other wholesale loans registered a rise of 27 per cent on-year in July-September. The bank said that overseas loans comprised 3.1 per cent of the total advances.

Leave a Reply

Your email address will not be published.

Loading…

0

With rising hunger, India ranks 107 in Global Hunger Index 2022

Erroneous, spreading misinformation: Centre reacts to India’s poor rating in Global Hunger Index