INSUBCONTINENT EXCLUSIVE:
HDFC Bank on Saturday posted a 21 per cent year-on-year (YoY) rise in standalone net profit at Rs 5,568.16 crore for the quarter ended June
The private sector lender had posted a net profit of Rs 4,601.44 crore in the corresponding quarter last year
Net interest income advanced 22.94 per cent YoY to Rs 13,294.25 crore in Q1FY20 over Rs 10,813.57 crore in Q1FY19.
Provisions and
contingencies increased 60 per cent YoY
They rose 38.35 per cent QoQ to Rs 2,613.66 crore during the quarter under review.
Standalone operating profit before provision and
contingencies increased 28.90 per cent YoY to Rs 11,147.24 crore for the quarter ended June 2019 against Rs 86,47.75 crore in the same
period last year.
Asset quality of the lender deteriorated marginally with percentage of gross non-performing assets (NPA) increasing to
1.40 per cent for the quarter ended June 2019 against 1.36 per cent in the preceding quarter ended March 2019
Percentage of net NPA inched higher to 0.43 per cent from 0.39 per cent QoQ.
The shareholders of the bank, at its Annual General Meeting
held on July 12 approved the sub-division (split) of one equity share of the bank from nominal value of Rs 2 each into 2 equity shares of
nominal value of Rs 1 each
The record date for the sub-division is September 20, 2019.
Total balance sheet size as of June 30, 2019 stood at Rs 1,265,253 crore as
against Rs 1,080,409 crore as of June 30 last year.
Total deposits increased 18.50 per cent YoY to Rs 9,54,554 crore in Q1FY20, while total
advanced increased by 17.10 per cent YoY to Rs 8,29,730 crore during the quarter under review.
Advances to the vehicle loan segment, where
sales volumes have seen some moderation, grew at 8.3 per cent over the previous year
The board also declared a special interim dividend of Rs 5 per share of Rs 2 to commemorate 25 years of the bank's operations
