Edited By: Mohammad Haris
Last Updated: January 14, 2023, 2:07 PM IST
HDFC Bank’s Q3 FY23 core net interest margin stood at 4.1 per cent on total assets.
HDFC Bank’s net revenue rises 18.3 per cent to about Rs 31.487.7 crore for the quarter ended December 31, 2022
HDFC Bank, India’s largest private sector lender, on Saturday reported an 18.50 per cent jump in its standalone net profit to Rs 12,259 crore for October-December 2022 (Q3 FY23).
On a consolidated basis, the largest private sector bank’s net profit stood at Rs 12,698 crore, up 19.9 per cent over the quarter ended December 31, 2021, according to a BSE filing.
HDFC Bank’s net interest income (interest earned less interest expended) for the December 2022 quarter grew 24.6 per cent to about Rs 22,987.8 crore from Rs 18.443.5 crore for the quarter ended December 31, 2021. Core net interest margin was at 4.1 per cent on total assets, and 4.3 per cent based on interest earning assets.
“The bank’s net revenue, grew by 18.3 per cent to about Rs 31.487.7 crore for the quarter ended December 31, 2022 from Rs 26,627.0 crore for the quarter ended December 31, 2021. Excluding net trading and mark to market income, the net revenue grew by 22.1 per cent over the quarter ended December 31, 2021,” HDFC Bank said in the filing.
The bank said its provisions and contingencies for the quarter ended December 31, 2022, stood at Rs 2,806.4 crore as against Rs 2,994 crore for the quarter ended December 31, 2021.
Gross non-performing assets (GNPAs) slightly improved to 1.23 per cent of gross advances (1 per cent excluding NPAs in the agricultural segment), against 1.26 per cent as on December 31, 2021 (1.04 per cent excluding NPAs in the agricultural segment).
GNPAs had stood at 1.23 per cent as on September 30, 2022 (1.03 per cent excluding NPAs in the agricultural segment).
Net non-performing assets were at 0.33 per cent of net advances as on December 31, 2022.
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