HDFC Bank net profit grows by one-fifth to Rs175bn

MUMBAI: HDFC Bank, one of the most consistent banks in terms of sustained all- round performance, reported a net profit of Rs4,799.3 crore for the quarter ended March 31, 2018 – an increase of 20.3 per cent over the quarter ended March 31, 2017.

The bank’s net profit for year ended March 31, 2018 was Rs17,486.8 crore, up 20.2 per cent, over the year ended March 31, 2017. As of March 31, 2018, the total balance sheet size was Rs1,063,934 crore as against Rs863,840 crore as of March 31, 2017.

Total deposits as of March 31, 2018 were Rs788,771 crore, an increase of 22.5 per cent over March 31, 2017. The current account deposits were at Rs119,283 crore and savings account deposits at Rs223,810 crore, which have grown by 15.6 per cent over the corresponding period last year.

The bank’s total income for the quarter ended March 31, 2018 was ` Rs25,549.7 crore, up from Rs21,560.7 crore for the quarter ended March 31, 2017. Net revenues (net interest income plus other income) increased by 19.1 per cent to Rs14,886.3 crore during the period from Rs12, 2018.501.4 crore in the corresponding quarter of the previous year.

Net interest income (interest earned less interest expended) for the quarter ended March 31, 2018 grew by 17.7 per cent to Rs10,657.7 crore, from Rs9,055.1 crore for the corresponding period in the previous year.

Other income (non-interest revenue) at Rs4,228.6 crore was 28.4 per cent of the net revenues for the quarter ended March 31, 2018 and grew by 22.7 per cent over Rs3,446.3 crore in the corresponding quarter last year.

The Board of Directors recommended a dividend of Rs13 per equity share of Rs2 for the year ended March 31, 2018, as against Rs11 per equity share of Rs2 for the previous year.

Gross non-performing assets (NPA) were at 1.30 per cent of gross advances as on March 31, 2018, as against 1.29 per cent as on December 31, 2017 and 1.05 per cent as on March 31, 2017. Net nonperforming assets (NPA) were at 0.4 per cent of net advances as on March 31,

 

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