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HDFC Bank, the second largest private sector lender of the country has posted a 20.2 percent increase in year-on-year profit to Rs 3,893.84 crore.
Profitability has been driven by net interest income and other income.
HDFC Bank has said that “Advances during the quarter rose 23.4 percent to Rs 5.8 lakh crore, with retail loan growth of 21.9 percent and wholesale loans 25.5 percent.”
“The total increases in gross NPAs, 60 percent pertained to the agricultural segment. As a prudent measure, the bank has enhanced specific provision coverage for its non-performing agricultural advances”, it said.
