HDFC Bank’s Q2 net profit rises 20%

Guwahati: HDFC Bank earned a net profit of Rs 10,605.8 crore, an increase of 20.1% over the quarter that ended September 30, 2021, after providing Rs 3,546.3 crore for taxation.

Profit before tax (PBT) for the quarter ended September 30, 2022 was at Rs 14,152.0 crore, a statement said.

Total balance sheet size as of September 30, 2022 was Rs 2,227,893 crore as against Rs 1,844,845 crore as of September 30, 2021, a growth of 20.8%.

Total Deposits showed a healthy growth and were at Rs 1,673,408 crore as of September 30, 2022, an increase of 19.0% over September 30, 2021. CASA deposits grew by 15.4% with savings account deposits at Rs 529,745 crore and current account deposits at Rs 229,951 crore.

Net interest income (interest earned less interest expended) for the quarter ended September 30, 2022 grew by 18.9% to Rs 21,021.2 crore from Rs 17,684.4 crore for the quarter ended September 30, 2021.

As of September 30, 2022, the Bank’s distribution network was at 6,499 branches and 18,868 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,226 cities / towns as against 5,686 branches and 16,642 ATMs / CDMs across 2,929 cities / towns as of September 30, 2021.

The Bank has 15,691 business correspondents, which are primarily manned by Common Service Centres (CSC). Number of employees were at 161,027 as of September 30, 2022 (as against 129,341 as of September 30, 2021).

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines (including profits for the half year ended September 30, 2022) was at 18.0% as on September 30, 2022 (20.0% as on September 30, 2021) as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%, and an additional requirement of 0.2% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Net non-performing assets were at 0.33% of net advances as on September 30, 2022.

The consolidated net profit for the quarter ended September 30, 2022 was Rs 11,125 crore, up 22.3%, over the quarter ended September 30, 2021. Consolidated advances grew by 22.8% from Rs 1,249,331 crore as on September 30, 2021 to Rs 1,533,945 crore as on September 30, 2022.