In a robust financial performance, HDFC Bank reports a 33.54% YoY surge in standalone net profit, reaching Rs 16,372.54 crore for Q3. This aligns closely with market expectations. The net interest income (NII) shows substantial growth, rising by 23.9% to Rs 28,470 crore.
The pre-provision operating profit demonstrates a noteworthy increase of 24.3%, reaching approximately Rs 23,650 crore. Provisions for the quarter rise to about Rs 4,220 crore from Rs 2,810 crore in the previous year.
HDFC Bank’s core net interest margin (NIM) stands strong at 3.4% on total assets and 3.6% on interest-earning assets. Gross non-performing assets (NPAs) show improvement, standing at 1.26% of gross advances.
Non-interest revenue witnesses a significant uptick, reaching about Rs 11,140 crore. Operating expenses increase by 28.1% to Rs 15,960 crore, leading to a cost-to-income ratio of 40.3%.
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The bank’s total Capital Adequacy Ratio (CAR) under Basel II guidelines stands at 18.4% against 19.4% YoY, comfortably exceeding the regulatory requirement of 11.7%.
HDFC Bank continues its strategic expansion, boasting a distribution network of 8,091 branches and 20,688 ATMs across 3,872 cities/towns. Domestic retail loans experience impressive growth at 111.1%, while commercial and rural banking loans grow by 31.4%.
The bank’s global footprint is notable, with overseas advances constituting 1.7% of total advances. The Q3 results underscore HDFC Bank’s resilience, operational strength, and commitment to strategic growth.
