HDFC Bank on Saturday posted a standalone internet revenue of Rs 8,834.3 crore for the September quarter of the continuing fiscal, a rise of 17.6 per cent from Rs 7,513.11 crore in the identical interval a 12 months in the past.
Gross non-performing property (NPAs) of the non-public sector lender have been Rs 16,346 crore — 1.35 per cent of advances within the second quarter of FY22 — as towards Rs 11,304 crore (1.08 per cent) in September 2020.
The financial institution’s internet revenues (internet curiosity revenue plus different revenue) elevated by 14.7 per cent to Rs 25,085.2 crore for the September quarter, in contrast with Rs 21,868.8 crore for the quarter ended September 2020.
Net curiosity revenue (curiosity earned much less curiosity expended) for the quarter beneath assessment grew by 12.1 per cent to Rs 17,684.4 crore from Rs 15,776.4 crore within the year-ago interval.
Advances noticed a progress of 15.5 per cent, reaching new heights pushed by relationship administration, digital providing and breadth of merchandise. Core internet curiosity margin was at 4.1 per cent.
“New liability relationships added during the quarter were at an all-time high. This continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 123 per cent, well above the regulatory requirement, which positions the bank favourably to capitalize on the opportunities that would arise as the economy gains momentum during the festive months,” HDFC Bank mentioned.
ExplainedEye on beneficial properties in festivalsWith advances reaching new heights at Rs 11,98,837 crore, in addition to deposits being a spotlight space, HDFC Bank managed to maintain a wholesome liquidity cowl ratio of 123 per cent within the lately concluded quarter. These components, coupled with satisfactory provisions for contingencies, place the non-public lender to hold ahead its momentum through the festive months.
Provisions and contingencies for the quarter beneath assessment have been Rs 3,924.7 crore (consisting of particular mortgage loss provisions of Rs 2,286.4 crore, and normal and different provisions of Rs 1,638.3 crore) as towards Rs 3,703.5 for the quarter ended September 2020.
Total provisions for the present quarter included contingent provisions of Rs 1,200 crore.
The financial institution mentioned it held floating provisions of Rs 1,451 crore and contingent provisions of Rs 7,756 crore as on September 2021.
Total provisions (comprising particular, floating, contingent and normal provisions) have been 163 per cent of the gross non-performing loans as on September 2021.
Total advances as of September 2021 have been Rs 11,98,837 crore, a rise of 15.5 per cent a 12 months in the past. Retail loans grew by 12.9 per cent, industrial and rural banking loans grew by 27.6 per cent and different wholesale loans grew by 6.0 per cent. Overseas advances constituted 3.5 per cent of whole advances.
On Thursday, shares of HDFC Bank closed 2.86 per cent larger at Rs 1,685.90 on the BSE.
