HDFC Bank Q2 Results: HDFC Bank announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Saturday, October 19, reporting a rise of 5.3 per cent in standalone net profit at ₹16,821 crore, compared to ₹15,976 crore in the corresponding period last year.
HDFC Bank’s net interest income (NII) – the difference between interest earned and paid, rose 10 per cent to ₹30,110 crore compared to ₹27,390 crore in the year-ago period.
The total income of India’s largest private lender by market value increased to ₹85,500 crore during the quarter under review compared to ₹78,406 crore in the same period last year.
The bank reported interest income of ₹74,017 crore during the quarter compared to ₹67,698 crore in the same period a year ago.
HDFC Bank’s asset quality witnessed slight deterioration with the gross non-performing assets (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago.
Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal.
HDFC Bank’s total balance sheet size increased to ₹36,88,100 crore, up from ₹34,16,300 crore year-on-year. Total deposits grew by 15.1 per cent to reach ₹25,00,100 crore, while CASA deposits rose by 8.1 per cent. Savings account deposits totaled ₹6,08,100 crore, and current account deposits amounted to ₹2,75,400 crore.
Provisions and contingencies for the quarter ending September 30, 2024, amounted to ₹2,700 crore, down from ₹2,900 crore in the same quarter of 2023. The total credit cost ratio stood at 0.43 per cent, compared to 0.49 per cent for the quarter ending September 30, 2023.
HDFC Bank’s operating expenses for the quarter rose 9.7 per cent to ₹16,890 crore over ₹15,400 crore during the corresponding quarter of the previous year.
In the July-September quarter, gross advances of the bank increased by 7 percent on-year to ₹25.19 lakh crore.
Retail loans grew by 11.3 percent, and commercial and retail banking grew 17.4 percent. However, corporate and other wholesale loans were lower by 12 percent.
Overseas advances constituted 1.7 percent of the total advances.
Bank’s advances under management, on an average basis were ₹25.64 lakh crore in July-September quarter, as compared to ₹23.27 lakh crore in a year ago period, and ₹25.33 lakh crore in a quarter ago period.
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