Business Daily from THE HINDU group of publications
Wednesday, Jul 11, 2007
ePaper
Business Daily from THE HINDU group of publications Wednesday, Jul 11, 2007 ePaper |
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Corporate Results
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Private Banks Money & Banking - Financial Performance
Our Bureau Mumbai, July 10 HDFC Bank’s total income rose to Rs 2,641.7 crore during the first quarter ended June 30, 2007 from Rs 1,795.2 crore in the corresponding period last year. India’s second largest private bank has recorded a 34.6 per cent rise in deposits and 32.7 per cent rise in advances. Total deposits were at Rs 81,604 crore. Average demand (CASA) deposits during the quarter remained at over 50 per cent of total deposits. Net advances were at Rs 53,839 crore with retail loans constituting 57 per cent of net advances. Mr Shashi Jagdishan, Chief Financial Officer, HDFC Bank, said: “There are certain areas in retail banking which have performed well, for instance, the offer loans, car loans, among others. The bank is trying to maintain a balance between wholesale banking (which has also grown strongly) and retail banking.” The bank’s revenue from wholesale banking has risen to Rs 1,658.42 crore from Rs 1,112.26 crore. Portfolio quality has remained healthy with net non-performing assets remaining stable at 0.4 per cent of advances. During the quarter ended June 30, 2007, the bank has obtained the board and shareholder approvals to raise equity capital of Rs 4,200 crore, either as domestic public offering or as public or private offerings in one or more international markets. The capital adequacy ratio was at 13.1 per cent as of June 30, 2007, of which Tier-I capital was 9.2 per cent. Net interest income for the quarter ended June 30, 2007 has increased to Rs 1,042.2 crore (Rs 817.6 crore). Provisions and contingencies for the quarter were Rs 307.1 crore, primarily comprising specific provisions for non-performing assets and general provision for standard assets of Rs 299.7 crore.
Related Stories: More Stories on : Private Banks | Financial Performance | HDFC Bank Ltd
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