Friday, Mar 29 2024 | Time 20:20 Hrs(IST)
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Business Economy


New Delhi, July 21 (UNI) Private sector lender HDFC Bank posted an 18.2 per cent year-on-year (YoY) increase in its first quarter net profit at Rs 4,601.44 crore.
The bank had posted standalone net profit of Rs 3,893.84 crore for Q1 of FY18. The net interest income (NII) rose by 15.4 percent YoY to Rs 10,813.57 crore in Q1of FY-19.
Provisions of HDFC Bank for Q1 saw a 4.5 percent increase to Rs 1,629.37 crore compared to Rs 1,558.76 crore in the year-ago period. Of this, loan loss provisions was at Rs 1,432.2 crore in Q1 as against Rs 1,343.2 crore for the year-ago period.
The bank's the non-performing assets (NPA) saw a marginal increase. Gross NPA ratio rose to 1.33 percent compared to 1.30 percent sequentially and 1.24 percent in the year-ago period.
Net NPA ratio came down to 0.41 percent in Q1 of FY19 compared to 0.44 percent in the year ago period. In Q4FY18, it was at 0.40 percent.
On an absolute basis, gross NPA rose by 31.7 percent YoY to Rs 9,538.62 crore. Net NPA rose by 15 percent YoY to Rs 2,907.10 crore in Q1.
Other income (non-interest revenue) for the first quarter was Rs 3,818.1 crore, of which fees and commission income at Rs 3,171.0 crore seeing a 23 percent YoY growth.
The bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 14.6 percent at the end of Q1 compared to 15.6 percent a year ago.
The size of HDFC Bank's balance sheet at the end of the first quarter was up by 20.6 percent to Rs 10.8 lakh crore as against Rs 8.95 lakh crore a year ago.
The bank's total deposits grew by 20 percent YoY to Rs 8.05 lakh crore as of end of Q1. Of this, savings account deposits were at Rs 2.27 lakh crore showing a YoY growth of 17.4 percent.
HDFC Bank's total advances as of June 30, 2018 grew by 22 percent YoY to Rs 7.08 lakh crore. As per regulatory segment classification, retail loans grew by 21.6 percent and wholesale loans grew by 22.7 percent.
The core cost-to-income ratio for the quarter was at 40 percent as against 42.7 percent in the year ago period.
UNI JPG SHK 2027
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