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Home / Industry / Banking /  HDFC Bank Q3 result: Profit up 18% to 10,342cr on loan, asset quality growth
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India's largest private sector bank HDFC Bank today reported 18.1 per cent rise in its standalone net profit at 10,342.20 crore for the third quarter ended December 31, 2021, on improvement in loan growth and asset quality in the wake up of pick-up in demand. This is more than 8,758.29 crore net profit reported during the same quarter in the previous fiscal year.

HDFC Bank's total income on standalone basis grew to 40,651.60 during the said quarter in FY22 vs 37,522.92 crore during Q3 FY21, HDFC Bank said in a regulatory filing.

The Bank’s net revenues (net interest income plus other income) increased by 12.1 per cent to 26,627.0 crore for the quarter ended December 31, 2021 from 23,760.8 crore for the quarter ended December 31, 2020.

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The private lender reported a rise in bad loan proportion with gross non-performing assets (NPAs) rising to 1.26 per cent of gross advances in Q3 FY22 vs 0.81 per cent in Q3 FY21. In Q2 FY22, HDFC Bank had reported GNPAs at 1.35 per cent. The net non-performing assets were at 0.37 per cent of net advances as on December 31, 2021.

Total balance sheet size as of December 31, 2021, was 1,938,286 crore as against 1,654,228 crore as of December 31, 2020, thereby recording a growth of 17.2 per cent.

Total deposits in Q3 FY22 were Rs1,445,918 crore, recording an increase of 13.8 per cent over December 31, 2020. CASA deposits grew 24.6 per cent, with savings account deposits at 471,029 crore and current account deposits at 210,195 crore.

For the nine months ended December 31, 2021, the bank's net profit was 26,906.2 crore, up by 17.3 per cent over the corresponding nine months ended December 31, 2020.

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.5 per cent as on December 31, 2021 (18.9 per cent as on December 31, 2020) as against a regulatory requirement of 11.7 per cent which includes Capital Conservation Buffer of 2.5 per cent, and an additional requirement of 0.2 per cent on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).

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The bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.5 per cent as on December 31, 2021 vs 18.9 per cent as on December 31, 2020. This is as against the regulatory requirement of 11.7 per cent.

As of December 31, 2021, HDFC Bank had a distribution network of 5,779 branches and 17,238 ATMs/cash deposit and withdrawal machines across 2,956 cities or towns.

The consolidated net profit for the quarter ended December 31, 2021 was 10,591 crore, up 20.8 per cent, over the quarter ended December 31, 2020. For the nine months of the fiscal year, the bank's consolidated profit stood at 27,610 crore, up 18.0 per cent on YoY basis.

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