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HDFC Bank’s Q3FY22 YoY net profit up 18.1% – Mumbai News

The financial institution’s net profit elevated to Rs 10,342.2 crore throughout the interval beneath overview over the quarter ended December 31, 2020.

Besides, the financial institution’s net curiosity earnings (earnings earned much less curiosity expended) for the quarter beneath overview grew by 13 per cent to Rs 18,443.5 crore from Rs 16,317.6 crore for the quarter ended December 31, 2020.

The lender’s net revenues (net curiosity earnings plus different earnings) elevated by 12.1 per cent to Rs 26,627 crore from Rs 23,760.8 crore for the quarter ended December 31, 2020.

“Advances grew at 16.5 per cent, reaching new heights driven by relationship management, digital offering and breadth of products. Core net interest margin was at 4.1 per cent. New liability relationships added during the quarter remained at an all-time high,” HDFC Bank mentioned in a press release.

“This continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 123 per cent, well above the regulatory requirement, which positions the bank favourably to capitalise on growth opportunities,” it added.

As per Q3FY22 outcomes, provisions and contingencies for the quarter rose Rs 2,994 crore (consisting of particular mortgage loss provisions of Rs 1,820.6 crore and common and different provisions of Rs 1,173.4 crore) as in opposition to complete provisions of Rs 3,414.1 crore for the quarter ended December 31, 2020.

“Total provisions for the current quarter included contingent provisions of approximately Rs 900 crore,” it mentioned.

“The total credit cost ratio was at 0.94 per cent, as compared to 1.30 per cent for the quarter ending September 30, 2021 and 1.25 per cent for the quarter ending December 31, 2020,” it added.

Disclaimer: This story is auto-aggregated by a pc program and has not been created or edited by FreshersLIVE.Publisher : IANS-Media

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