HDFC Bank Q2 profit jumps 27 pc to Rs 6,345 crore
Mumbai (Maharashtra) [India], Oct 19 (ANI): Private lender HDFC Bank on Saturday reported 26.8 per cent jump in its net profit of Rs 6,345 crore during the July to September quarter.
ANI
Oct 19, 2019 18:24 IST
Mumbai (Maharashtra) [India], Oct 19 (ANI): Private lender HDFC Bank on Saturday reported 26.8 per cent jump in its net profit of Rs 6,345 crore during the July to September quarter.
In Q2 FY19, it had reported a profit after tax (PAT) of Rs 5,006 crore. The growth in Q2 FY20 was driven by average asset growth of 15 per cent and a core net interest margin for the quarter of 4.2 per cent, it said in a statement.
Net interest income during the quarter grew by 14.9 per cent to Rs 13,515 crore year-on-year with loan growth at 19.5 per cent as compared to the same period last year.
Total deposits as of September 30 Rs 10.21 lakh crore, showing an increase of 22.6 per cent. CASA (current account savings account) deposits grew by 14.7 per cent with savings account deposits at Rs 2.64 lakh crore and current account deposits at Rs 1.36 lakh crore.
Time deposits were at Rs 6.20 lakh crore, marking a jump of 28.3 per cent over the previous year. "The bank's continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 133 per cent, well above the regulatory requirement," it said.
Gross non-performing assets were at 1.38 per cent of gross advances on September 30 (1.2 per cent excluding non-performing assets in the agricultural segment) as against 1.4 per cent on June 30 and 1.33 per cent on September 30 last year (1.1 per cent excluding NPAs in the agricultural segment).
The lender improved its cost-to-income ratio for Q2 FY20 to 38.8 per cent from 39.9 per cent in the same period last year. (ANI)
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