HDFC Bank This autumn internet up 22.8% on higher asset high quality, larger curiosity revenue

HDFC Bank on Saturday posted a internet revenue of Rs 10,055.2 crore on a standalone foundation for the quarter ended March 2022 (Q4FY22), up 22.8 per cent towards Rs 8,186.51 crore within the year-ago interval.

Net curiosity revenue (NII), the distinction between curiosity earned and curiosity expended, rose 10.2 per cent to Rs 18,872.7 crore in This autumn as towards Rs 17,120.2 crore a yr in the past, with credit score progress of practically 21 per cent and 16.8 per cent rise in deposits on-year.

“Core net interest margin was at 4 per cent on total assets, and 4.2 per cent based on interest-earning assets,” the financial institution mentioned.

Advances rose 20.8 per cent to Rs 13.69 lakh crore in Q4FY22. Retail loans grew 15.2 per cent, industrial & rural banking loans by 30.4 per cent, and company & different wholesale loans by 17.4 per cent Asset high quality improved with non-performing belongings (NPAs) at 1.17 per cent of advances as towards 1.32 per cent a yr in the past.

“We continued to add new liability relationships at a robust pace of 2.4 million during the quarter,” the lender mentioned. It recorded a 16.8 per cent progress in deposits at Rs 15.59 lakh crore as of March 2022, with CASA deposits rising 22 per cent and time deposits growing 12.3 per cent.

Provisions and contingencies for the quarter ended March 31, 2022 had been Rs 3,312.4 crore (consisting of particular mortgage loss provisions of Rs 1,778.2 crore and normal and different provisions of Rs 1,534.2 crore) as towards whole provisions of Rs 4,693.7 crore for a similar quarter a yr in the past. Total provisions for the present quarter included contingent provisions of roughly Rs 1,000 crore.

The financial institution held floating provisions of Rs 1,451 crore and contingent provisions of Rs 9,685 crore as of March 2022. Total provisions (comprising particular, floating, contingent and normal provisions) had been 182 per cent of the gross non-performing loans. Net revenues (internet curiosity revenue plus different revenue) in This autumn grew 7.3 per cent to Rs 26,509.8 crore towards Rs 24,714.1 crore a yr in the past.

For the total fiscal FY22, the financial institution posted a revenue of Rs 36,961.3 crore, a progress of 18.8 per cent over the earlier yr, and internet curiosity revenue at Rs 72,009.6 crore, up 11 per cent over a yr in the past. The financial institution’s shares fell 1.90 per cent on the BSE to Rs 1,464.85 Thursday.

Meanwhile, as per a PTI report, HDFC Bank mentioned it should increase as much as Rs 50,000 crore within the subsequent one yr by issuing bonds. Further, its board has accredited to re-appoint Renu Karnad as non-executive director on the board for 5 years.