At Rs 10,605.8 crore, HDFC Bank Sept quarter web revenue jumps 20.1%

Private-sector lender HDFC Bank Saturday reported a 20.1 per cent bounce in its standalone web revenue at Rs 10,605.8 crore within the second quarter ended September 2022 as towards Rs 8,834.3 crore within the year-ago quarter.

On a consolidated foundation, its web revenue stood at Rs 11,125 crore, up 22.3 per cent, from Rs 9,096.19 crore in the identical interval of the earlier fiscal.

In the half 12 months ended September 2022, the lender’s standalone web revenue jumped by 19.5 per cent to Rs 19,801.8 crore in comparison with Rs 16,563.9 crore within the corresponding interval of the earlier fiscal.

During the September quarter, web curiosity earnings (NII), which is the distinction between the curiosity earned and curiosity expended, grew by 18.9 per cent to Rs 21,021.2 crore from Rs 17,684.4 crore in the identical interval of final 12 months.

Gross non-performing property (GNPAs) confirmed slight enchancment at 1.23 per cent of gross advances from 1.35 per cent in September 2021. Net NPAs stood at 0.33 per cent from 0.4 per cent.

In the reporting quarter, provisions and contingencies had been Rs 3,240.1 crore as towards Rs 3,924.7 crore in September 2021.

Its whole capital adequacy ratio (CAR) was at 18 per cent within the second quarter as towards a regulatory requirement of 11.7 per cent. Tier 1 CAR stood at 17.1 per cent and customary fairness tier 1 capital ratio was at 16.3 per cent. The lender raised further tier 1 bonds of Rs 3,000 crore within the quarter.

Total advances grew 23.4 per cent to Rs 1,479,873 crore. Domestic retail loans grew by 21.4 per cent, industrial and rural banking loans grew by 31.3 per cent and company and different wholesale loans grew by 27 per cent. Total deposits confirmed a wholesome enhance of 19 per cent at Rs 1,673,408 crore within the quarter. CASA (present account financial savings account) deposits grew by 15.4 per cent with financial savings account deposits at Rs 529,745 crore and present account deposits at Rs 229,951 crore.

HDFC Ltd-HDFC
Bank merger

The National Company Law Tribunal (NCLT) has directed HDFC Bank and HDFC Limited to convene conferences of their fairness shareholders on November 25, 2022 for contemplating the proposed merger of the 2 entities. The  inventory exchanges, the Reserve Bank of India and the Competition Commission of India have already given in-principle approval for the amalgamation.