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HDFC Bank has posted a 27 per cent rise in net profit at Rs 1,982 crore in the July-September quarter of FY’14 compared with Rs 1,560 crore in the same quarter last year.
The country’s second largest private sector lender broke its own record of posting 30 per cent growth in net profit for 54 consecutive quarters. The marginal decline was due to lower-than-expected net interest income and margin.
Net interest income, margin
Net interest margin during the quarter fell to 4.3 per cent from 4.4 per cent. This reduction was due to the RBI’s tight liquidity measures taken in July.
During the quarter, net interest income (difference between interest earned and interest expended) grew 15 per cent to Rs 4,476.5 crore from Rs 3,882 crore in the same quarter last year.
Non-interest income increased 25 per cent to Rs 1,844 crore from Rs 1,472 crore in Q2 FY’13.
Rise in non-performing assets
Gross non-performing assets (NPAs) increased to 1.1 per cent of total advances against 0.9 per cent in the second quarter last year. Net non-performing assets were up at 0.3 per cent from 0.2 per cent.
As on June 30, 2013, total advances grew 16 per cent year-on-year to Rs 2.69 lakh crore. Retail loan segment growth was 17 per cent, while wholesale loans grew 15 per cent resulting in a retail:wholesale loan mix of 53:47.
Total deposits as of September 30, 2013 were at Rs 3.13 crore, an increase of 14 per cent over September 30, 2012. Savings account deposits grew 18 per cent.
CASA ratio
CASA (current and savings account) ratio was at 45 per cent.
The bank’s total capital adequacy ratio as of September 30, 2013 (computed as per Basel III guidelines) stood at 14.6 per cent against a regulatory requirement of 9 per cent.
Shares of HDFC bank were trading down by 1.68 per cent at Rs 656 per share on the Bombay Stock Exchange.
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