HDFC Bank Q2 Net profit rises 10.8%

Today, October 18, 2025, HDFC Bank, India's biggest private sector bank, released its Q2 earnings. The private lender's board of directors had approved the financial results for the second quarter of FY26 and was set to convene on Saturday. 

 It is anticipated that the banking industry as a whole would post poor results for the quarter that ended in September 2025, with sector profitability plunging before rebounding in H2FY26. 

 The July–September quarter saw modest increases in HDFC Bank's net profit and net interest income (NII). In the second quarter of FY26, HDFC Bank posted a standalone net profit of ₹18,641.28 crore, up 10.8% from ₹16,820.97 crore in the same period last year.

In the second quarter of FY26, HDFC Bank posted a standalone net profit of ₹18,641.28 crore, up 10.8% from ₹16,820.97 crore in the same period last year. During the fiscal second quarter that concluded in September 2025, the lender's Net Interest Income (NII), which is the difference between interest collected and interest paid, increased 4.8% year over year to ₹31,551.5 crore from ₹30,114 crore. 

 In the second quarter of FY26, pre-provisions operating profit (PPOP) climbed 18.5% to ₹27,923.60 crore from ₹24,705.74 crore, YoY. Over the course of the quarter, the private sector lender's asset quality increased sequentially. 

 Net NPA down 6.75% QoQ to ₹11,447.29 crore, while gross NPA fell 7.42% QoQ to ₹34,289.48 crore. The Net NPA ratio decreased 5 bps QoQ to 0.42%, while the Gross NPA ratio reduced 16 bps QoQ to 1.24%.

Here are the highlights of HDFC Bank Q2 results today:

> Net profit up 10.8% YoY at ₹18,641.28 crore

> NII up 4.8% YoY at ₹31,551.5 crore

> PPOP up 18.5% at ₹27,923.60 crore

> Gross NPA down 7.42% QoQ at ₹34,289.48 crore

> Net NPA down 6.75% QoQ at ₹11,447.29 crore

> Gross NPA ratio down 16 bps QoQ at 1.24%

> Net NPA down 5 bps QoQ at 0.42%

> Provisions at ₹3,500.5 crore, up 29.6 YoY, down 75.76% QoQ

> Total deposits up 12.1% YoY at ₹28.02 lakh crore

> Gross advances up 9.9% YoY at ₹ ₹27.69 lakh crore

> Total number of branches at 21,417

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HDFC Bank Q1 results: Net profit up 12.2% Y-o-Y

Despite a notable increase in provisions during the quarter and a modest increase in net interest income (NII) due to muted loan growth, HDFC Bank, the largest private sector lender in India, reported a 12.2% year-over-year (Y-o-Y) increase in net profit to Rs 18,155 crore in the April-June quarter of the financial year 2025-26 (Q1FY26). 

 During the quarter, the bank's partial disinvestment in HDB Financial Services, a subsidiary, contributed to the net profit. 

 The selling of HDB Financial's shares resulted in a net gain of Rs 6,949.27 crore for it. During the quarter, its provisions increased to Rs 14,441 crore, comprising Rs 1,700 crore in extra contingent provisions and Rs 9,000 crore in floating provisions.

"In a credit environment that is still benign, the bank's credit performance across all segments stays consistent. The bank said in its statement on Saturday that it has deemed this a good time to strengthen its floating provisions, which serve as a countercyclical buffer to strengthen the balance sheet and are not tailored to any particular portfolio or set of expected risks. 

 The lender's net interest margin (NII) increased 5.4% year over year to Rs 31,438 crore during this time. The core net interest margin was 3.35 percent on total assets, which indicates that assets are repricing more quickly than deposits, compared to 3.46 percent for the previous quarter, which concluded on March 31, 2025.

For the first quarter of FY26, its other revenue (non-interest revenue) was Rs 21,730 crore. Gross non-performing assets (NPAs) at the end of Q1FY26 were 1.4%, down from 1.3% in Q4FY25, indicating a slight decline in the bank's asset quality. 

 Likewise, its net non-performing assets (NPAs) were 0.47 percent. Retail loans grew by 8.1% year over year, while total advances by 6.7% year over year to Rs 26.53 trillion. Corporate and other wholesale loans rose 1.7%, while loans to small and mid-market businesses jumped 17.1%.

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HDFC Bank Q4 Net profit up 7% YoY

India’s largest private sector lender HDFC Bank reported its financial results for the fourth quarter of FY25, posting a 6.7 percent year-on-year rise in standalone net profit to Rs 17,616 crore. The earnings surpassed Street expectations, with analysts projecting a net profit of Rs 17,072 crore, according to a Moneycontrol poll. On a sequential basis, net profit rose by 5.3 percent.

HDFC Bank said its board has recommended a dividend of Rs 22 per share of face value of Rs 1 each for the financial year 2024-25. 

Gross non-performing asset (NPA) ratio of the bank shrunk to 1.33 percent as on March 31, 2025, as compared to 1.42 percent as on December 31, 2024. However, it expanded from 1.24 percent a year ago, showed the stock exchange filings.

Similarly, Net NPA ratio of the bank stood at 0.43 percent in the reporting quarter, as compared to 0.46 percent in a quarter ago period and 0.33 percent previous year.

In absolute terms, gross NPAs fell to Rs 35,222.64 crore as of March 31, 2025, as compared to Rs 36,018.58 crore as on December 31, 2024. It rose from Rs 31,173.32 crore as on March 31, 2024.

Even though the asset quality of the bank has deteriorated, provisions and contingencies for the quarter ended March 31, 2025 stood at Rs 3,190 crore , as as against Rs 13,510 crore for the quarter ended March 31, 2024, according to the release.

Net interest income (interest earned less interest expended) for the quarter ended March 31, 2025 grew by 10.3 percent to Rs 32,070 crore from Rs 29,080 crore for the quarter ended March 31, 2024, release said.

Net interest income of the bank in a quarter ago period stood at Rs 30,650 crore.

Net interest margin was at 3.54 percent on total assets, and 3.73 percent based on interest earning assets. Excluding Rs 700 crore of interest on income tax refund, core net interest margin was at 3.46 percent on total assets, and 3.65 percent based on interest earning assets, release said.

Other income (non-interest revenue) for the quarter ended March 31, 2025 was Rs 12,030 crore. The four components of other income for the reporting quarter were fees & commissions of Rs 8,530 crore, foreign exchange & derivatives revenue of Rs 1440 crore, net trading and mark to market gain of Rs 390 crore and miscellaneous income, including recoveries and dividend of Rs 1,670 crore.

The Bank’s average deposits were grew 15.8 percent on-year to Rs 25.28 lakh crore in January-March quarter. In a year ago period, average deposit of the bank stood at Rs 21.84 lakh crore, and in a quarter ago period it stood at Rs 24.53 lakh crore. On a sequential basis, average deposit of the bank grew just 3.1 percent.

The Bank’s average CASA deposits were Rs 8.3 lakh crore for the March 2025 quarter, a growth of 5.7 percent over Rs 7.85 lakh crore for the March 2024 quarter, and 1.4 percent over Rs 8.18 lakh crore for the December 2024 quarter, release said.

CASA deposits grew by 3.9 percent with savings account deposits at Rs 6.31 lakh crore and current account deposits at Rs 3.14 lakh crore. Time deposits were at Rs 17.70 lakh crore, an increase of 20.3 percent over the corresponding quarter of the previous year, resulting in CASA deposits comprising 34.8 percent of total deposits as of March 31, 2025.

Gross advances were at Rs 26.44 lakh crore as of March 31, 2025, an increase of 5.4 percent over March 31, 2024. Advances under management grew by 7.7 percent over March 31, 2024.

Retail loans grew by 9.0 percent, commercial and rural banking loans grew by 12.8 percent and corporate and other wholesale loans were lower by 3.6 percent. Overseas advances constituted 1.7 percent of total advances.

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HDFC Bank Q3 Net profit up 2.2% YoY

 

India’s largest private sector lender HDFC Bank reported its financial results for the third quarter of FY25, posting a 2.2 percent year-on-year rise in standalone net profit to Rs 16,736 crore. The earnings surpassed Street expectations, with analysts projecting a net profit of Rs 16,650 crore, according to a Moneycontrol poll.

The bank's net interest income (NII), a key metric of the bank's earnings, grew 8 percent YoY to Rs 30,690 crore during the quarter, in line with expectations. Net Interest Margin (NIM) for the quarter was flat at 3.4 percent.

This steady growth in HDFC Bank's core earnings - both NII and net profit - came in despite a rise in NPAs and NPA ratios.

Also Read - Quarterly Results of all banks for Q3FY25

HDFC Bank faced some pressure on asset quality during the quarter. Gross non-performing assets (GNPA) increased to Rs 36,019 crore as of December 31, 2024, up 16 percent from Rs 31,012 crore a year ago. Consequently, the GNPA ratio expanded by 18 basis points to 1.42 percent from 1.26 percent in the same period last year.

Similarly, net non-performing assets (NNPA) jumped 51 percent to Rs 11,588 crore, with the NNPA ratio increasing by 15 basis points to 0.46 percent from 0.31 percent YoY.

Provisions for the quarter declined to Rs 3,154 crore from Rs 4,217 crore in the same period last year, reflecting a YoY reduction of 25 percent.

Total deposits stood at Rs 25.6 lakh crore as of December 31, 2024, registering a 15.8 percent YoY growth, while total advances rose 3 percent to Rs 25.2 lakh crore during the same period.

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Top 10 Mobile Banking Applications in India

Over the past few decades, technology has advanced significantly. From computers to laptops and iPads, software to applications, and mobile phones to Android devices, the digital age is pervasive. These days, many people use mobile banking apps. When conducting online transactions, a mobile banking app provides convenience, speed, and flexibility.

Nowadays, a large number of Indians are uncomfortable using traditional banking. They have therefore embraced mobile banking. Because of this, practically all private sector and PSU banks offer mobile banking apps for online transactions. This lessens the need for a laptop or desktop computer, and most importantly, it eliminates the need for you to physically visit the bank in order to complete any banking task.

 

1. Kotak-811 & Mobile Banking App

Kotak-811 - A app from Kotak Mahindra Bank offers a zero-balance savings account with an internationally enabled virtual debit card. It features a slick digital banking app UI. It is the first app in India to offer WhatsApp banking. You may now bank on a familiar platform using this app.

Features

* View account details and transaction details, and download e-statements.

* Send and receive money for instant transfers using IMPS, NEFT, and UPI.

* Manage your zero-balance savings account with an internationally enabled virtual debit card for online payments.

* Connect your bank account with WhatsApp and initiate banking transactions through a chat interface.

Pros

User-friendly interface with innovative features, ero-balance savings account with virtual debit card,WhatsApp banking for convenient banking on a familiar platform

Cons

Limited investment options compared to dedicated investment apps, Occasional app crashes reported by some users, Might be overwhelming for users who only need basic functionalities

2. HDFC Bank Mobile Banking App

The HDFC Bank app from one of India’s largest banks, allows you to manage your finances conveniently. You can check account summaries, make payments, transfer funds, and pay utility bills all within the HDFC net banking app.

Features

* Send and receive money using IMPS, NEFT, and UPI through the HDFC bank mobile banking app.

* Schedule and pay various bills, including utilities and credit cards.

* Personalize your app dashboard to display the features you use most frequently.

* Access a streamlined version of the HDFC app download for users with slower internet connections.

Pros

User-friendly interface with customizable features, Reliable and secure platform from a major bank, Lite version available for users with slower internet

Cons

Limited investment options compared to dedicated investment apps, Some users report occasional app crashes, May not offer the most advanced features compared to some other apps

3. YONO SBI 

YONO SBI- App of State Bank of India, Previously known as SBI Anywhere Personal, YONO SBI offers a user-friendly and secure platform for SBI account holders. It supports multiple languages and allows click-based and voice-assisted transactions for a convenient banking experience.

Features

* Use YONO app to send and receive money using IMPS, NEFT, and UPI.

* Schedule and pay various bills, including utilities and credit cards.

* Access the SBI mobile banking app in multiple regional languages for broader accessibility.

* Perform banking transactions using voice commands for added convenience.

Pros

Voice-assisted transactions, All-in-one Platform (investments, shopping, travel booking), Cardless Cash Withdrawal

Cons

Might be overwhelming for users who only need basic functionalities., Customer service responsiveness might vary.,Limited investment options compared to dedicated investment apps.

4. Axis Mobile App

Renowned for its stability, Axis Mobile offers a comprehensive suite of banking services.

Features

* Use the Axis Bank app to schedule automatic payments for various bills, including utilities and credit cards.

* Track your mutual fund investments within the Axis mobile app.

* Set spending limits, turn contactless payments on/off, and temporarily block your card if misplaced.

Pros

Stable and reliable performance, Wide range of features for managing finances, Auto-pay functionality for bills, Debit card control options

Cons

Occasional app crashes reported by some users, Limited investment options compared to dedicated investment apps

5. IDBI Bank GO Mobile+ App

Designed for a smooth banking experience, IDBI GO Mobile+ offers a user-friendly interface and various services. You can check account statements, make payments, recharge prepaid mobiles, and pay utility bills.

Features

* Choose seasonal themes or customize your login screen on the IDBI bank app.

* Secure your login with a selfie picture.

* Use IDBI app to view holdings and transactions directly within the app.

Pros

Simple and easy-to-use interface,Supports regional languages,Covers essential banking needs,Mobile recharge functionality

Cons

Limited investment and advanced features,Customer service responsiveness might vary

6. BOB World

Developed by the Bank of Baroda, BOB World is an app known for its user-friendliness.

Features

* Withdraw cash at BOB ATMs using a one-time MPIN generated within the Bank of Baroda app.

* Generate QR codes on BOB mobile banking app for easy bill payments at merchant locations.

* Store and manage digital receipts for your transactions within the app.

Pros

Convenient bill payments & organized receipts, Simplified cash deposits, Security features (2FA, biometrics, data encryption)

Cons

Relies on QR reader compatibility & increases app storage use, Limited branch availability for cash deposit requests, Responsiveness of customer service

7. ICICI Bank iMobile Pay App

A highly rated app by ICICI Bank, iMobile Pay offers a comprehensive suite of banking services.

Features

* Open fixed deposits (FDs), invest in recurring deposits (RDs) and manage existing investments.

* Access and manage your ICICI Bank life insurance policies on the ICICI Bank mobile app.

* Get quick access to personal loans against your credit card on the imobile app.

Pros

The ICICI bank app features a streamlined layout for effortless navigation, Customize your dashboard for quick access to frequently used features, Clear menus and categorized services

Cons

The app may experience occasional technical glitches or crashes, Some users report slower processing times for transactions, The app might require frequent updates to ensure smooth performance

8. Canara Bank ai1 Mobile Banking App

Designed with the goal of “One Bank, One App,” Canara Bank’s ai1 app offers a variety of banking services.

Features

* Use Canara bank app to pay instantly at stores with a tap using your phone (RTGS/NEFT enabled).

* Start fixed or recurring deposits or invest in mutual funds all within the Canara bank mobile app.

* Set up recurring payments for your bills and savings goals.

Pros

Book flights, hotels, buses, and cabs directly through the app, Check your credit score and pay bills seamlessly through Bharat Bill Payment,Access insurance, Demat services, and IPO applications

Cons

Occasional problems might occur with UPI transactions, Features might be limited for users who don’t have a Canara Bank account, The app might experience occasional slowdowns or technical glitches.

9. Bank of India BOI Mobile App

BOI Mobile boasts a secure and comprehensive banking experience for Bank of India account holders.

Features

* View balances and statements and manage all accounts on the Bank of India app.

* Transfer funds quickly with IMPS, NEFT, and RTGS, and utilize the “Favourite” feature on the Boi mobile app.

* Locate ATMs, manage cheques, and access various banking services.

Pros

Efficient navigation for transfers and management, User-friendly interface with easy account access, Streamlined process for adding “Favourites.”

Cons

Interface might be challenging for new users to navigate, Lacks advanced features compared to some competitors, Occasional transaction delays and app crashes reported.

10. Punjab National Bank PNB ONE App

PNB ONE is the official mobile banking app from Punjab National Bank.

Features

* Gain quick access to all your accounts through an interactive interface by downloading the PNB One app.

* Invest in term deposits and mutual funds, all within the PNB One app.

* Track cheque status, request stop payments, and manage cheques conveniently.

Pros

Access value-added services like PAN/Aadhaar registration, Manage existing credit/debit cards, Enjoy the app in English, Hindi, and other languages.

Cons

 Features might be limited for non-PNB customers, May be complex for new users to navigate, App crashes and slow processing times reported.

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HDFC Bank Q4 results: Profit jumps 37%, NII up 24.5%

HDFC Bank on April 20 reported a net profit of Rs 16,511 crore for the January-March quarter of the financial year 2023-24, marking a 0.84 percent jump compared to Rs 16,373 crore clocked in the previous quarter. The net profit is almost in line the market estimates of Rs 16,576 crore.

The bank’s year-on-year financial results are not comparable due to the merger with the parent entity HDFC Ltd during the year.

The net interest income (NII) of Rs 29,007 crore jumped from Rs 28,470 crore reported in the previous quarter. The NII is slightly lower as against the market estimates of Rs 29,172 crore.

The bank's gross non-performing asset (NPA) stood at 1.24 percent, down from 1.26 percent in the last quarter. On the other hand, net NPA for the quarter stood at 0.33 percent compared to 0.31 percent.

The net revenue of the lender grew to Rs 47,240 crore including transaction gains of Rs 7340 crore from the stake sale in subsidiary HDFC Credila Financial Services during the quarter.

The board of directors recommended a dividend of Rs 19.5 per equity share of Rs 1 for the year ended March 31, 2024, the bank said in a press release. Provisions and contingencies for the quarter were Rs 13,500 crore which included floating provisions of Rs 10,900 crore, the bank said. For FY24, the total profit of the bank stood at Rs 64,060 crore.

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HDFC Bank Q3 Profit jumps 34%

 

HDFC Bank Ltd on Tuesday reported a 33.54 per cent year-on-year (YoY) rise in standalone net profit at Rs 16,372.54 crore for the December quarter compared with Rs 12,259.49 crore in the same quarter last year. The profit figure was largely in line with Street estimates. Net interest income (NII) for the quarter, which is interest earned less interest expended, rose 23.9 per cent YoY to Rs 28,470 crore compared with Rs 22,990 crore in the same quarter last year. The NII growth was slightly lower than analyst estimates of 25 per cent. 

Pre-provision operating profit jumped 24.3 per cent to about Rs 23,650 crore. Provisions for the quarter jumped to about Rs 4,220 crore from Rs 2,810 crore in the year-ago quarter. The private lender said its core net interest margin (NIM) stood at 3.4 per cent on total assets, and 3.6 per cent based on interest earning assets.

Gross non-performing assets were at 1.26 per cent of gross advances as on December 31, 2023, against 1.34 per cent as on September 30, 2023, and 1.23 per cent as on December 31, 2022. Net non-performing assets were at 0.31 per cent of net advances as on December 31.

Non-interest revenue for the quarter ended December 31, 2023 stood at about Rs 11,140 crore compared with Rs 8500 crore in the corresponding quarter ended December 31, 2022. Among the four components of other income, fees & commissions stood at Rs 6,940 crore billion against Rs 6,050 crore YoY.

Foreign exchange & derivatives revenue came in at Rs 1210 crore against Rs 1,070 crore YoY; net trading and mark-to-market gain stood at Rs 1,470 crore against a gain of Rs 260 crore YoY. Miscellaneous income, including recoveries and dividend, stood at Rs 1,520 crore against Rs 1,110 crore.

HDFC Bank said its operating expenses were up 28.1 per cent to Rs 15,960 crore over Rs 12,460 crore in the corresponding quarter last year. The cost-to-income ratio for the quarter was at 40.3 per cent.

The Bank's total Capital Adequacy Ratio (CAR) as per Basel II guidelines stood at 18.4 per cent against 19.4 per cent YoY. This is against a regulatory requirement of 11.7 per cent.

As of December 31, 2023, HDFC Bank's distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities / towns as against 7,183 branches and 19,007 ATMS across 3,552 cities / towns as of December 31, 2022. A total of 52 per cent of its branches were in semi-urban and rural areas.

"In addition, we have 15,053 business correspondents, which are primarily manned by Common Service Centres (CSC). The number of employees were at 2,08,066 as of December 31, 2023 (as against 1. ,66, 890 as of December 31, 2022)," the bank said in a BSE filing.

Domestic retail loans grew 111.1 per cent, commercial and rural banking loans grew 31.4 per cent and corporate, and other wholesale loans (excluding non-individual loans of eHDFC Ltd of approximately Rs 98,900 crore) grew 11.2 per cent. Overseas advances constituted 1.7 per cent of total advances.

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For 'biggest scam in India's history', RBI, two private sector banks get threat mails

The sender also claimed to have planted bombs at 11 locations across Mumbai, where the three banks – HDFC and ICICI are the other two – are headquartered.

The Reserve Bank of India (RBI), which is headquartered in Mumbai, and two city-based private sector banks (HDFC and ICICI) on Tuesday received threat mails, in which the sender accused the RBI and private sector banks of carrying out the ‘biggest scam in the history of India,’ and claimed to have planted bombs at 11 locations across the financial capital, Mint reported citing Mumbai Police.

The sender also demanded the resignation of Union finance minister Nirmala Sitharaman and RBI governor Shaktikanta Das, among others, for their 'involvement' in the so-called ‘scam.’

“We demand that both RBI Governor and Finance Minister to immediately resign from their posts and release a press statement with a full disclosure of the scam. We also demand government to give them both and all those who are involved the punishment they deserve,” the emails said, as per Mint.

Where were the ‘bombs’ planted?

Three of the locations at which the sender claimed to have planted bombs were: RBI-New Central Building, Fort; HDFC House-Churchgate; and ICICI Bank Towers, BKC (Bandra-Kurla Complex). Also, the mails warned that the explosives would detonate at 1:30 pm.

What did the police find?

The Mumbai Police said that upon being made aware of the mails, they sent their personnel to each of the 11 locations, though nothing was found.

“A case has been registered and the probe is underway,” a police official told news agency ANI.

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HDFC Bank Q1 Results: Net profit jumps 30%, maintains healthy asset quality

HDFC Bank on July 17 reported a net profit of Rs 11,951 crore for the April-June quarter FY24, a jump from Rs 9,196 crore in the quarter ended June 30, 2022. The net profit slightly exceeded the market expectations. At least four brokerages had predicted a net profit of Rs 11,581 crores whereas HDFC Bank reported a net profit of Rs 11,951 crore.

The country's largest private sector bank's net interest income (NII) grew by 21.1 percent to Rs 23,599 crore from Rs 19,481 crore for the quarter ended June 30, 2022. Core net interest margin was at 4.1 percent on total assets, and 4.3 percent based on interest earning assets.

The lender's gross non-performing assets (GNPA) ratio stood at 1.17 percent, improving from 1.28 percent in the corresponding period a year ago.

Similarly, its net NPA (NNPA) stood at 0.30 percent from 0.35 percent last year. The lender's net profit jumped from Rs 9,196 crores in the corresponding quarter last year to Rs 11,951 crores in Q1FY24.

On the deposit side, total deposit of the bank stood at Rs 19.13 lakh crores, jumping by 19.2 percent on a year-on-year basis.

Current account and savings account (CASA) grew by 10.7 percent where total current account deposits stood at Rs 2.52 lakh crores and savings account deposits stood at Rs 5.6 lakh crores. Whereas time deposits of the bank stood at Rs 11 lakh crores, improving by 26.4 percent.

Total advances of the bank grew by 15.8 percent on a year-on-year basis and stood at Rs 16.15 lakh crores.

Domestic retail loans grew by 20 percent, commercial and rural banking loans grew by 29.1 percent and corporate and other wholesale loans grew by 11.2 percent.

The lender's treasury segment reported a revenue of Rs 10,537 crores, jumping from Rs 7,379 crores in the corresponding quarter last year.

Retail banking, which formed the bank's major revenue, stood at Rs 42,939 crores compared to Rs 31,685 crores last year. Whereas the lender's wholesale banking stood at Rs 28,332 crores, jumping from Rs 18,642 crores.

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HDFC Bank Q4 Results: Net profit rises 21% YoY , asset quality stable

HDFC Bank on April 15 reported a 21 percent YoY rise in consolidated net profit to Rs 12,594.5 crore for the quarter ended March 31. The private lender posted a 20.3 percent YoY growth in consolidated net revenue to Rs 34,552.8 crore during the quarter, against Rs 28,733.9 crore recorded during the quarter ended March 31, 2022.

Profit before tax (PBT) for the quarter ended March 31, 2023 was at Rs 15,935.5 crore. After providing Rs 3,888.1 crore for taxation, the bank earned a net profit of Rs 12,047.5 crore, an increase of 19.8 percent over the quarter ended March 31, 2022.

Net interest income (NII), or the difference between interest earned and interest expended, grew by 23.7 percent to Rs 23,351 crore from Rs 18,872 crore for the quarter ended March 31, 2023, HDFC Bank said in an exchange filing.

The average of a poll of three brokerages estimated that the profits will rise to Rs 12,181 crore. Net interest income (NII) was expected to increase 30.5 percent on-year (up 8.8 percent QoQ) to Rs 24,601.9 crore, whereas the average poll of estimates saw HDFC Bank to report 21.9 percent YoY rise in March quarter profits.

Standalone revenue grew by 21 percent to Rs 32,083.0 crore for the quarter ended March, 2023 from Rs 26,509.8 crore posted a year ago.

The lender said its total deposits showed healthy growth and were at Rs 1,883,395 crore as of March 31, 2023, an increase of nearly 21 percent over March 31, 2022. Meanwhile, total advances as of March 31, 2023 were Rs 1,600,586 crore, an increase of 16.9 percent over March 31, 2022.

“Domestic retail loans grew by 20.8 percent, commercial and rural banking loans grew by 29.8 percent and corporate and other wholesale loans grew by 12.6 percent,” HDFC Bank said in the exchange filing.

Coming to asset quality, the gross non-performing assets were at 1.12 percent of gross advances as on March 31, 2023 as against 1.23 percent as on December 31, 2022 and 1.17 percent as on March 31, 2022. While, net non-performing assets were at 0.27 percent of net advances as on March 31, 2023.

HDFC Bank’s board also recommended a dividend of Rs 19 per share for the year ended March 31, 2023, as against Rs 15.5 for the previous year. This is subject to shareholders' approval.

Further, the bank's total Capital Adequacy Ratio (CAR) as per Basel Ill guidelines was at 19.3 percent as on March 31, 2023 (18.9 percent as on March 31, 2022) as against a regulatory requirement of 11.7 percent, it added.

Provisions and contingencies for the quarter ended March 31, 2023 were Rs 2,685.4 crore as against Rs 3,312.4 crore for the quarter ended March 31, 2022.

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HDFC Bank Q1 results: Net profit jumps 19% to ₹9,196 crore; NII rises 14.5%

HDFC Bank, the country's largest private lender, on Saturday reported a 19% year-on-year (YoY) rise in its net profit for the April-June quarter at ₹9,196 crore after providing ₹2,984.1 crore for taxation.

HDFC Bank had posted a net profit of ₹7,729.64 crore in the year-ago period.

Net interest income (NII) for the June quarter grew by 14.5% to ₹19,481.4 crore from ₹17,009.0 crore for the same quarter last year. It was driven by advances growth of 22.5%, deposits growth of 19.2% and total balance sheet growth of 20.3%.

The private lender's net revenue (excluding trading and Market to Market losses) grew by 19.8% to ₹27,181.4 crore for the June quarter from ₹22,696.5 crore for the same quarter last year. 

The total net revenues i.e. net interest income plus other income) were ₹25,869.6 crore for the April-June quarter.

Core net interest margin was at 4.0% on total assets, and 4.2% based on interest earning assets. “We continued to add new liability relationships at a robust pace of 2.6 million during the quarter," the bank said in a regulatory filing.

Gross non-performing assets (NPA) were at at 1.28% of gross advances as on 30 June this year (1.06% excluding NPAs in the seasonal agricultural segment) as against 1.47% as on 30 June last year, (1.26% excluding NPAs in the seasonal agricultural segment). Net NPA were at 0.35% of net advances as on 30 June, 2022.

Pre-provision Operating Profit (PPOP) was at ₹15,367.8 crore. PPOP, excluding trading and Mark to Market losses, grew by 14.7% over the quarter ended 30 June last year.

Provisions and contingencies for the Q1FY23 were ₹3,187.7 crore (which were specific loan loss provisions) as against total provisions of ₹4,830.8 crore for Q1FY22.

Meanwhile, global brokerage BNP Paribas expected the lender's bottom-line to grow mere 13.4% ( ₹9,284.5 crore) YoY, JPMorgan pegged the expansion at a more aggressive pace of 32.4% ( ₹10,232 crore).

Domestic brokerages Motilal Oswal Financial Services, and Emkay Global Financial Services had expected PAT (profit after tax) to swell up to 20% ( ₹9,280 crore) YoY.

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HDFC Bank Q4 net profit jumps 23% YoY

HDFC Bank, the largest private sector lender in India, on April 16 reported a 23 percent year-on-year (YoY) growth in standalone net profit at Rs 10,055.2 crore for the quarter ended March 2022 as bad loans provisions declined 29 percent, with further improvement in asset quality. A year back, the standalone profit stood at Rs 8,186.51 crore.

Net interest income (NII), the difference between interest earned and interest expended, increased 10.2 percent YoY to Rs 18,872.7 crore in Q4, with credit growth of nearly 21 percent and 16.8 percent growth in deposits YoY. "Core net interest margin was at 4 percent on total assets, and 4.2 percent based on interest-earning assets, said the bank in its BSE filing on April 16.

HDFC Bank further said its advances grew by 20.8 percent YoY to Rs 13.69 lakh crore in the fourth quarter of FY22, with growth in retail loan book at 15 percent, commercial and rural banking loans at 30.5 percent, and corporate and other wholesale loans at 17.5 percent over the corresponding period last fiscal.

The bank recorded a 16.8 percent YoY growth in deposits at Rs 15.59 lakh crore as of March 2022, with retail deposits rising 18.5 percent, and wholesale deposits scaling 10 percent on-year.

The share of Current Account Savings Accounts (CASA) deposits stood at Rs 7.51 lakh crore as of March 2022, a growth of around 22 percent YoY, while the ratio of CASA deposits increased to 48 percent in the March 2022 quarter, compared to 46.1 percent in the corresponding period last fiscal, the bank said.

Provisions and contingencies fell sharply to Rs 3,312.4 crore at the end of the March 2022 quarter, down 29.4 percent compared to the year-ago period, but the same increased 10.6 percent on a sequential basis.

Total provisions for March 2022 quarter included contingent provisions of approximately Rs 1,000 crore, said the bank, adding the floating provisions were Rs 1,451 crore and contingent provisions at Rs 9,685 crore as of March 2022.

Asset quality improved further with the gross non-performing assets (as a percentage of gross advances) falling 9 bps QoQ to 1.17 percent and net NPAs (as a percentage of net advances) declining 5 bps sequentially to 0.32 percent at the end of the March quarter.

Non-interest income (or other income) grew by around half a percent to Rs 7,637 crore in Q4FY22 as there was a loss on sale or revaluation of investments during the quarter at Rs 40.3 crore (against income of Rs 655.1 crore in the same period last year, said the bank.

The fees and commissions segment, which contributed 74 percent to other income, grew by 12 percent to Rs 5,630.3 crore in the same period.

Pre-provision operating profit (PPoP) at Rs 16,357 crore registered a 5.3 percent YoY growth compared to the corresponding quarter of last fiscal as operating expenses increased by 10.6 percent YoY.

The bank said its total capital adequacy ratio (CAR) stood at 18.9 percent as of March 2022, up from 18.8 percent as of the same period last year, with Tier-I CAR at 17.9 percent increasing by 30 bps YoY.

During the quarter ended March 2022, the bank purchased loans aggregating Rs 8,117 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC).

For the full financial year 2021-22, the bank reported a profit of Rs 36,961.3 crore, a growth of 18.8 percent over the previous year, and net interest income at Rs 72,009.6 crore - up 11 percent during the same period.

On April 4 this year, the board of directors approved the merger of HDFC with HDFC Bank. The combined entity in terms of market capitalisation would be the third-largest in India, which is subject to several requisite approvals, including that from the Reserve Bank of India, Competition Commission of India, National Housing Bank, and Insurance Regulatory and Development Authority of India. HDFC shareholders will get 42 equity shares of HDFC Bank for every 25 shares held by them.

The private sector lender added 563 branches during the March quarter, taking the network to 6,342 units as of the end of FY22.

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HDFC Bank Q3 profit rises 18%

 

Leading private sector lender HDFC Bank on January 15 clocked standalone net profit of Rs 10,342 crore for the December 2021 quarter, up 18 percent year-on-year backed by decline in bad loan provisions.The profit in corresponding quarter last fiscal was at Rs 8,758.29 crore.

Net interest income, the difference between interest earned and interest expended, climbed 13 percent to Rs 18,444 crore in Q3FY22, with net interest margin at 4.1 percent for the quarter, and healthy credit growth of 16.4 percent.Profit and net interest income grew by 17 percent and 4.3 percent on sequential basis in Q3.

HDFC Bank on January 4 had said advances for the quarter at Rs 12.6 lakh crore grew by 16.4 percent compared to year-ago period and the sequential growth was 5.1 percent. "Retail loan growth was 13.5 percent YoY (up 4.5 percent QoQ) and corporate loan book growth at 7.5 percent YoY (up 4.5 percent QoQ)."

The bank further said it registered 13.8 percent YoY growth (up 2.8 percent QoQ) in deposits at Rs 14.46 lakh crore with CASA deposits rising 24.6 percent YoY (up 3.5 percent QoQ) to Rs 6.81 lakh crore in December 2021 quarter. "CASA ratio stood at around 47 percent as of December 31, 2021, as compared to 43 percent as of December 2020 and 46.8 percent as of September 2021."

Provisions and contingencies for the quarter at Rs 2,994 crore declined 12.3 percent year-on-year, and dropped 23.7 percent over previous quarter, which comprised a specific loan loss provisions of Rs 1,820.6 crore, and general and other provisions of Rs 1,173.4 crore.

"Total provisions for the December quarter included contingent provisions of approximately Rs 900 crore," said HDFC Bank.The total credit cost ratio was at 0.94 percent for the quarter, said the bank. This was against 1.3 percent reported for September 2021 quarter and 1.25 percent for December 2020 quarter.

Asset quality improved further as the gross non-performing assets (GNPAs) as a percentage of gross advances fell 9 bps sequentially to 1.26 percent and net NPAs declined 3 bps QoQ to 0.37 percent at the end of December 2021.

"Total provisions (comprising specific, floating, contingent and general provisions) were 172 percent of the gross non-performing loans as on December 31, 2021," said HDFC Bank.The bank held floating provisions of Rs 1,451 crore and contingent provisions of Rs 8,636 crore as of December 2021.

Pre-provision operating profit grew by 10.5 percent year-on-year to Rs 16,776 crore and other income (non-interest income) increased by 9.94 percent to Rs 8,183.55 crore for the December 2021 quarter.

The growth in other income was driven by forex & derivatives revenue, and recoveries & dividend, while fees & commissions, which contribute 62 percent to non-interest income, saw moderate growth YoY.

"Fees & commissions income at Rs 5,075.1 crore for the quarter grew by 2 percent, foreign exchange & derivatives revenue at Rs 949.5 crore increased by 68.8 percent, and miscellaneous income including recoveries & dividend at Rs 1,112.5 crore rose by 39.56 crore," said the company in its BSE filing.

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Suspicious transactions detected in this bank,three staffs arrested

HDFC Bank on October 19 said it detected certain suspicious transactions within its system. The bank reported the incident to the Delhi Cyber Crime Cell. Based on the complaint the police arrested 12 persons including three bank employees.

"Our systems detected unauthorised and suspicious attempts to transact in certain accounts. We reported the matter to law enforcement agencies for further and necessary investigation and lodged an FIR" the bank said.

Based on the FIR, the Delhi Police arrested three people who are working within the bank. The arrests were made in Delhi yesterday, according to a bank communication official.

The Bank said it suspended the three people pending the outcome of the investigation.

"The bank is extending full support to the law enforcement agencies in the investigation. At HDFC Bank, there's zero tolerance for any misconduct, financial or otherwise," HDFC Bank said.

According to a statement issued by K P S Malhotra, DCP/Cyber Crime, Special Cell, overall 12 persons were arrested including three HDFC bank employees in relation to the incident.

The fraudsters were involved in attempts to make unauthorized withdrawal from a very high value NRI account. The Police has recovered a fraudulently obtained cheque book from the suspects. According to the police mobile phone number identical to that of account holder's US based phone number was procured by the fraudsters and 66 attempts of unauthorized online transactions made by this group on this high value NRI account.

Racket busted

With these arrests, the Cyber Crime Unit of Special Cell has busted a racket of fraudsters involved in unauthorized attempts and hacking through internet banking and attempts of withdrawal using fraudulently obtained cheque book of a high valued NRI customer of HDFC Bank.

“They also procured an Indian mobile phone number identical to the USA's mobile number of the account holder registered in the KYC. 12 persons including 3 employees of HDFC bank, have been arrested,” the statement said.

HDFC Bank had filed complaint with Cyber Crime Unit of Special Cell alleging therein that there are many unauthorized internet banking attempts noticed in one NRI bank account.

Further there have been attempts to withdraw cash from the same account, using the fraudulently obtained cheque book. Attempts were also made to get update mobile phone number in the KYC of the same bank account by replacing the already registered US mobile phone number with similar/identical Indian mobile phone number, the statement said.

HDFC Bank further alleged that in all 66 attempts were made to access the internet banking of the account.

After the complaint was received, the Delhi Cyber Crime team was tasked to identify the culprits on the basis of technical footprints and human intelligence.

“On the basis of technical evidence, footprints, and human intelligence, multiple geolocations were identified. In all, raids were conducted at 20 locations across Delhi, Haryana and Uttar Pradesh. During the course of investigation, in all 12 persons have been arrested. Out of the 12 arrested accused persons, 3 are HDFC bank employees, who were involved in issuing the cheque book, updating the mobile phone number and removing the debt freeze of the account,” the statement said.

The arrested persons include D. Chaurasiya and A. Singh—both HDFC Employees. A third female HDFC Bank employee too was arrested. The Police didn't disclose the name of the person.

How the crime happened

According to the Police, from the interrogation of the accused persons revealed that the main mastermind has come to know that an NRI account is dormant and has huge funds. With the help of one female employee of HDFC Bank, the perpetrators got issued a cheque book of the said account and also got removed the debt freeze of the account.

The investigation has revealed that HDFC bank employee was promised Rs 10 lakhs and insurance business of Rs 15 lakhs. In the earlier instances, there were attempts of withdrawal of money from this account. Two cases were earlier registered one at Ghaziabad, UP and one at Mohali, Punjab.

Chaurasiya and A.Singh (both employees of HDFC bank) had attempted to update the phone number linked in the KYC. Other associates had tried to login to the internet banking of the account for the purpose of transfer of amount. “All these attempts of withdrawal, unauthorized login attempts to internet banking, updating of mobile phone number was only possible due to connivance of the bank employees,” the Police statement said.

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HDFC Bank Q2 Result, Profit grows 17.6%

HDFC Bank, the largest private sector lender in India, has reported standalone profit at Rs 8,834.31 crore for September 2021 quarter, a 17.6 percent higher compared the corresponding period last fiscal, driven by higher other income, and marginal increase in provisions. The sequential growth in profit was at 14.3 percent for the quarter.

Net interest income, the difference between interest earned and interest expended, increased 12.1 percent YoY to Rs 17,684.4 crore during the quarter, with healthy loan growth.

"Advances grew at 15.5 percent reaching new heights driven through relationship management, digital offering and breadth of products. Core net interest margin was at 4.1 percent," said HDFC Bank in its BSE filing.

The advances increased to Rs 11.98 lakh crore in Q2FY22 YoY and the same increased 4.4 percent, sequentially. Loan growth was supported by, "retail segment that registered 12.9 percent YoY growth and commercial & rural banking segment that grew 27.6 percent YoY during the quarter," said the bank, adding other wholesale loans grew by around 6 percent YoY.

The bank further said new liability relationships added during the quarter were at an all-time high. "This continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 123 percent, well above the regulatory requirement, which positions the bank favourably to capitalise on the opportunities that would arise as the economy gains momentum during the festive months.

Deposits at Rs 14.06 lakh crore in the quarter ended September 2021 increased 14.4 percent compared to corresponding period previous fiscal, with retail deposits growth 17.5 percent and wholesale deposits at 2 percent YoY.

Provisions and contingencies at Rs 3,924.66 crore for the September quarter included contingent provisions of Rs 1,200 crore, growing 6 percent over a year-ago period but declined 18.8 percent on sequential basis.

The bank said it held floating provisions of Rs 1,451 crore and contingent provisions of Rs 7,756 crore as of September 2021, and total provisions were 163 percent of the gross non-performing loans as of September 2021.

Provision coverage ratio improved further to 70.9 percent in the second quarter of FY22, from 67.9 percent in June quarter.

On the asset quality front, gross non-performing loans at 1.35 percent of gross advances as of September 2021 were higher compared to 1.47 percent in June 2021 quarter, while net non-performing assets at 0.4 percent for the quarter declined from 0.48 percent in previous quarter.

Pre-provision operating profit at Rs 15,807.3 crore in Q2 grew by 14.4 percent over the corresponding period of previous year, the slowest growth in 21 quarters.

HDFC Bank said other income (non-interest income) at Rs 7,400.8 crore in Q2FY22 grew by 21.5 percent year-on-year, as fees & commissions, which accounted for 67 percent of other income, jumped 25.5 percent to Rs 4,945.9 crore YoY.

Foreign exchange & derivatives revenue, and miscellaneous income (recoveries and dividend) grew by 55 percent to Rs 867 crore and 58.5 percent to Rs 912 crore YoY respectively, but gain on sale/revaluation of investments fell 33.5 percent to Rs 675.5 crore in the same period, it added.

During the quarter ended September 2021, the private sector lender purchased loans aggregating Rs 7,132 crore through the direct assignment route under the home loan arrangement with promoter Housing Development Finance Corporation.

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