HDFC Bank Q4 net rises 33% on interest income

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Mumbai, April 24HDFC Bank's net profit rose 33 per cent to Rs 837 crore in the fourth quarter of 2009-10, aided by higher net interest income.

Strong growth in the loanbook and better margins boostednet interest income, said MrParesh Sukhtankar, ExecutiveDirector, HDFC Bank. The netinterest margin was up marginallyat 4.4 per cent (against4.3 per cent). Other incomewas down as treasury earningswere hit due to rising bondyields. The bank incurred aloss of Rs 47.3 crore on revaluation/sale of investments (aprofit of Rs 243.6 crore).For the full year, net profitgrew 31 per cent to Rs 2,949crore. The board of HDFCBank has proposed a dividendof Rs 12 a share for the year.In the quarter, net NPAsdropped to 0.31 per cent (0.63per cent). "The impact of thenon-performing loans acquiredfrom Centurion Bank iswearing off. With the economylooking up, the asset quality ofthe retail portfolio is improving,"said Mr Sukhtankar.The corporate loan bookgrew 40 per cent and retail 22per cent. Of the total loan book,retail advances constituted 55per cent. CASA's share in totaldeposits increased to 50 percent (45 per cent).Going forward, the NIMsshould remain around 4.2 percent despite the increase in theCRR and higher costs due to thedaily savings rate calculation,Mr Sukhtankar said.

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(This article was published in the Business Line print edition dated April 25, 2010)
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