HDFC Bank posts 21% rise in Q4 PAT; dividend of Rs 19/share announced – Times of India

[ad_1]

India’s largest private sector lender, HDFC Bank, on Saturday posted a 21% growth in its consolidated net profit for the fourth quarter of the fiscal year 2022-23. The bank’s profit stood at Rs 12,594.5 crore during the quarter. HDFC Bank’s consolidated net revenue grew by 20.3% to Rs 34,552.8 crore for the quarter ended March 31, 2023 from f 28,733.9 crore for the quarter ended March 31, 2022.
The consolidated net profit for the year ended March 31, 2023 was Rs 45,997.1 crore. The board has also approved a final dividend of Rs 19 a share.
The bank’s net interest income i.e. the difference between interest earned and interest expended, grew by 24% on year to Rs 23,352 crore for Q4.
The private sector lender showed a healthy 21% growth in deposits, which stood at Rs 18.83 lakh crore as of March 31, 2023. The CASA deposits grew by 11.3%, with savings account deposits at Rs 5.62 lakh crore and current account deposits at Rs 2.73 lakh crore.
Total advances as of March 31, 2023 stood at Rs 16 lakh crore, an increase of 16.9% over March 31, 2022. The gross of transfers through inter-bank participation certificates and bills rediscounted, total advances grew by 21.2% over March 31, 2022.
Domestic retail loans grew by 20.8%, commercial and rural banking loans grew by 29.8% and corporate and other wholesale loans grew by 12.6%. Overseas advances constituted 2.6% of total advances.
Overall asset quality of the bank remained strong with the gross non-performing assets remaining at 1.12% of gross advances as on March 31, 2023 (0.94% excluding NPAs in the agricultural segment), as against 1.17% as on March 31, 2022 (1.01% excluding NPAs in the agricultural segment). The net NPAs were at 0.27% of net advances as on March 31, 2023.



[ad_2]

Source link

Leave a Comment