HDFC Bank on Saturday reported a 18.17 per cent year-on-year progress in standalone internet revenue for the quarter ended March 2021 (Q4FY21) at Rs 8,186.5 crore, as in opposition to Rs 6,927.6 crore a year-ago interval.
However, on a sequential foundation, the standalone internet revenue declined 6.5 per cent in contrast with Rs 8,758 crore within the December quarter (Q3FY21). The financial institution’s board of administrators determined in opposition to declaring any dividend for FY21, in wake of the second coronavirus wave.
The internet revenue for the monetary 12 months ended March 2021 was Rs 31,116.5 crore, rising 18.5 per cent over the monetary 12 months ended March 2020.
The financial institution mentioned internet curiosity earnings (NII) —- the distinction between curiosity earned by lending and curiosity paid to depositors —- noticed a 12.6 per cent rise to Rs 17,120 crore within the reporting quarter, in comparison with Rs 15,204 crore within the corresponding interval final 12 months.
According to the financial institution, complete advances as of March 2021 had been Rs 11,32,837 crore, a rise of 14.0 per cent over March 2020. Domestic advances grew by 14.1 per cent over March 2020.
As per regulatory section classification, home retail loans grew by 6.7 per cent and home wholesale loans grew by 21.7 per cent. Total deposits as of March 2021 had been Rs 13,35,060 crore, a rise of 16.3 per cent over March 2020.
Gross non-performing belongings (NPAs) had been at Rs 15,086 crore, or 1.32 per cent of gross advances, as of March 2021, in comparison with 1.38 per cent (proforma strategy) as of December final 12 months and 1.26 per cent as of March 2020. Net NPAs had been at 0.40 per cent of internet advances as of March 2021.
“The bank also continues to hold provisions as on March 31, 2021 against the potential impact of Covid-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms,” it mentioned.
The financial institution held floating provisions of Rs 1,451 crore and contingent provisions of Rs 5,861 crore as of March 2021. Total provisions (comprising particular, floating, contingent and basic provisions) had been 153 per cent of the gross non-performing loans as on March 31, 2021.
