HDFC Bank, the largest private sector bank in India, declared their quarterly financial report for the December-end quarter of the current fiscal year with a net profit of Rs 5,586 crores posting a 20.3 per cent year-on-year growth.
The Housing Development Finance Corporation Bank’s total income for the quarter ended December 31, 2018, grew by 26.0% to Rs. 30,811.3 crores from Rs. 24,450.4 crores for the quarter ended December 31, 2017.
The Bank’s net revenues (net interest income plus other income) increased by 23.4% to Rs. 17,497.8 crores for the quarter ended December 31, 2018, from Rs. 14,183.5 crore in the corresponding quarter of the previous year.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2018, grew by 21.9% to 1t’ 12,576.8 crores, from 10,314.3 crores for the quarter ended December 31, 2017, driven by asset growth of 23.7% and a core net interest margin for the quarter of 4.3%.
The gross non-performing assets ratio increased to 1.38 per cent from 1.33 per cent in the previous quarter. Net NPA ratio increased marginally to 0.42 per cent from 0.40 per cent in the previous quarter. Provisioning rose more than 20 per cent sequentially to Rs 2,211.5 crore, including contingent provisioning of Rs 322.4 crores.