HDFC
HDFC Bank net profit move up by 19pc in Q1 to Rs 9,196 crore
Mumbai: Private lender HDFC Bank on Saturday reported 19% year-on-year rise in net profit at Rs 9,196 crore for April-June quarter (Q1) of FY23 as compared to Rs 7,729.64 crore in the Q1 of previous financial year.
The bank’s core net revenue (excluding trading and Mark to Market losses), grew by 19.8% to Rs 27,181.4 crore for the June quarter from Rs 22,696.5 crore in the corresponding period of last financial year.
The total net revenues (net interest income plus other income) were Rs 25,869.6 crore for the quarter ended June 30, 2022.
DFC Bank's net interest income (NII) for the June quarter grew by 14.5% to Rs 19,481.4 crore from Rs 17,009 crore for the quarter ended June 30, 2021, driven by advances growth of 22.5%, deposits growth of 19.2% and total balance sheet growth of 20.3%.
Gross non-performing assets (NPA) of the bank were at 1.28% of gross advances as on June 30, 2022, (1.06% excluding NPAs in the seasonal agricultural segment) as against 1.47% as on June 30, 2021, (1.26% excluding NPAs in the seasonal agricultural segment).
The private lender's net non-performing assets were at 0.35% of net advances as on June 30, 2022.
The bank said that its total balance sheet size as of June 30, 2022 was Rs 2,109,772 crore as against Rs 1,753,941 crore as of June 30, 2021, a growth of 20.3%.
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