On Saturday, HDFC Bank announced a 22.30% increase in its consolidated net profit for the September quarter, which totaled 11,125.21 crores. The bank had a total net profit of 9,096.19 crores in the preceding fiscal year.

The largest private sector bank’s standalone net profit grew by more than 20% to 10,605.78 crores, up from 8,834.31 crores the previous year and 9,196 crores in the preceding June quarter.

According to the bank, overall income grew to 46,182 crores for the reporting quarter, up from 38,754 crores the previous year, while expenditure, excluding provisions and contingencies, increased to 28,790 crores from 22,947 crores.


Provisions and contingencies were reduced to Rs. 3,240 crores in the third quarter, down from Rs. 3,925 crores the previous year. As of September 30, total deposits reached Rs. 22.3 lakh crores, up nearly 21% from the previous year.

The lender’s total deposits climbed 19% year on year, reaching Rs 16.73 lakh crore at the end of September. The surge in deposits comes at a time when banks are struggling to mobilize deposits while maintaining profitability in the face of a fast-dwindling liquidity surplus.

CASA deposits climbed 15.4 percent, totaling Rs 5.30 lakh crore in savings account deposits and Rs 2.3 lakh crore in current account deposits.

The asset quality of the lender improved during the second quarter of the fiscal year 2022-23. Gross non-performing assets (NPAs) were 1.23 percent of gross loans on September 30, 2022, up from 1.35 percent on September 30, 2021. Net non-performing assets were 0.33 percent of net advances on September 30, 2022.

At the end of September, the bank’s capital adequacy ratio (CAR) was 18 percent, compared to the required requirement of 11.7 percent. Tier 1 CAR was 17.1%, down from 18.7% last year. The common equity Tier 1 capital ratio was 16.3 percent as of September 30, 2018.

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