Private sector lender HDFC Bank on Saturday posted a 20.3 per cent increase in its net profits for the fourth quarter ended March 31 at Rs 4,799.3 crore, led by stable asset quality.

Similarly, its net profit for 2017- 2018 also grew by 20.2 per cent to Rs 17,486.8 crore.

Standalone total income for the January to March quarter 2018 was Rs 25,549.7 crore as against Rs 21 ,560.7 crore for the quarter ended on March 31, 2017, HDFC Bank said in a statement.

Its net revenues increased by 19.1 per cent to Rs 14,886.3 crore in the fourth quarter of the fiscal while net interest income grew 17.7 per cent to Rs 10,657.7 crore.

On the asset quality, HDFC Bank said gross non-performing assets (bad loans) were at 1.30 per cent of gross advances as on March 31, 2018, as against 1.29 per cent as on December 31, 2017 and 1.05 per cent as on March 31, 2017. Net non-performing assets were at 0.4 per cent of net advances as on March 31, 2018. It held floating provisions of Rs 1,451 crore as on March 31, 2018.

Its total deposits grew by 22.5 per cent in 2017-18 to Rs 7,88,771while total advances rose by 18.7 per cent to Rs 6,58,333 crore.

Dividend announcement

The Board of Directors also recommended a dividend of Rs 13 per equity share of Rs 2 for the year ended March 31, 2018, the Bank said.

Fund raising

Besides, the Board of Directors of the Bank also approved the issue of Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (financing of infrastructure and affordable housing) up to a total amount of Rs 50,000 crore in the period of next twelve months through private placement mode. This would however, be subject to the approval of the shareholders at the ensuing Annual General Meeting of the Bank and any other regulatory approvals required.