New Delhi: The country’s largest private sector HDFC Bank on Saturday reported an 18.1 per cent rise in its standalone net profit at Rs 10,342.20 crore for the quarter ended December 2021, helped by healthy non-interest income and fall in bad loans provisioning.
The bank had registered a net profit of Rs 8,758.29 crore in the corresponding quarter of the last fiscal year.
Total income on a standalone basis rose to Rs 40,651.60 crore in the October-December quarter of FY22, as against Rs 37,522.92 crore in the same period of FY21, HDFC Bank said in a regulatory filing.
Its non-interest income comprised nearly 31 per cent of net revenues at Rs 8,183.6 crore during Q3 FY22, up by about 10 per cent from a year ago.
Net interest income (interest earned minus interest expended) rose by 13 per cent to Rs 18,443.50 crore from Rs 16,317.60 crore.
The advances grew at 16.5 per cent reaching new heights driven through relationship management, digital offering and breadth of products. New liability relationships added during the quarter remained at all time high, the lender said.
Continued focus on deposits helped in maintenance of a healthy liquidity coverage ratio at 123 per cent, well above the regulatory requirements, which positions the bank favourably to capitalise on growth opportunities, it added.
On the asset quality side, there was a rise in bank’s bad loan proportion with the gross non-performing assets (NPAs) rising to 1.26 per cent of the gross advances as of December 30, 2021 as against 0.81 per cent from year ago same period.
—PTI

Press Trust of India