On the finish of the October-December quarter of the monetary yr (FY) 2023-24, the financial institution had a complete of 8091 branches.
HDFC Financial institution on January 16 reported a web revenue of Rs 16,372 crore for the October-December quarter of 2023-24, which marks a 33.5 % bounce from Rs 12,259 crore clocked a yr in the past.
The web revenue, at Rs 16,372 crore, is nearly consistent with the market estimates of Rs 16,427 crore. The web curiosity earnings (NII) of Rs 28,470 crore, which elevated by 23.9 % as in comparison with Rs 22,990 crore reported within the corresponding quarter of the earlier fiscal. The NII, at Rs 28,470 crore, is decrease as in opposition to the market estimates of Rs 29,554 crore.
The financial institution’s gross non-performing property (NPA) stood at 1.26 %, up from 1.23 % final yr. Alternatively, web NPA for the quarter stood at 0.31 % in comparison with 0.33 % final yr. Right here, Srinivasan Vaidyanathan, Chief Monetary Officer, HDFC Financial institution stated that the financial institution has traditionally seen an enchancment in its asset high quality. “Traditionally, now we have seen that our asset high quality has improved and the present credit score atmosphere appears to be benign. The credit score situations appear to be fairly good,” Srinivasan stated within the press convention after saying the outcomes.
The lender’s provisions rose to Rs 4,216 crore, up by 50 %. Right here, Srinivasan stated that the supply quantity embody contingent provisions of round Rs 1,212 crore on account of investments in various funding funds.
Complete advances of the financial institution jumped 62.4 % to Rs 24.69 lakh crore. Home retail loans of the financial institution grew by 111 %, business and rural loans of the financial institution grew by 31.4 % and company and wholesale loans (excluding non-individual loans of eHDFC Ltd. of roughly Rs 98,900 crore) grew by 11.2 %.
Moreover, Srinivasan stated that the financial institution had a 97 foundation factors (bps) impression on the capital adequacy ratio (CAR) because of the improve within the danger weight property on unsecured and different loans.
Within the October-December FY24 quarter, whole deposits of the financial institution jumped by 27.7 % to Rs 28.47 lakh crore versus Rs 22.29 lakh crore within the corresponding quarter final yr. Present account and financial savings account deposits grew by 9.5 % with financial savings account deposits at Rs 5.79 lakh crore and present account deposits at Rs 2.58 lakh crore.
The shares HDFC Financial institution closed for buying and selling at Rs 1678.95 apiece on BSE, 0.42 % up.
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