India’s largest private sector lender HDFC Bank reported a net profit for the quarter ended in March 2021 at Rs 8,186.5 crore, an increase of 18.2% over the quarter ended on March 31, 2020.
The Bank’s net revenues (net interest income plus other income) increased by 16.4% to Rs 24,714.1 crore for the quarter ended March 31, 2021 from Rs 21,236.6 crore for the quarter ended on March 31, 2020.
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Net interest income (interest earned less interest expended) for the quarter ended on March 31, 2021 grew by 12.6% to Rs 17,120.2 crore from Rs 15,204.1 crore for the quarter ended March 31, 2020.
The bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 138%, well above the regulatory requirement.
“Total deposits as of March 31, 2021 were Rs 1,335,060 crore, an increase of 16.3% over March 31, 2020. CASA deposits grew by 27.0% with savings account deposits at Rs 403,500 crore and current account deposits at Rs 212,182 crore,” the bank said in a statement.
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Total balance sheet size as of March 31, 2021 was Rs 1,746,871 crore as against Rs 1,530,511 crore as of March 31, 2020, a growth of 14.1%.
The cost to income ratio for the year ended March 31, 2021 was at 36.3%, as against 38.6% for the year ended March 31, 2020.
Net profit for the year ended March 31, 2021 was Rs 31,116.5 crore, up 18.5% over the year ended March 31, 2020.
The bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.8% as on March 31, 2021 (18.5% as on March 31, 2020) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).
“As of March 31, 2021, the Bank’s distribution network was at 5,608 branches and 16,087 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 2,902 cities / towns as against 5,254 branches and 14,901 ATMs / CDMs across 2,803 cities / towns as of March 31, 2020. 50% of our branches are in semi-urban and rural areas,” it said.
Net non-performing assets were at 0.40% of net advances as on March 31, 2021.
The consolidated net profit for the year ended March 31, 2021 was Rs 31,833 crore, up 16.8% over the year ended on March 31, 2020.