HDFC Bank Q2 net up 18% to Rs 8,834 cr, steady rise in interest, fee income

Lavern Vogel

The country’s most significant private lender, HDFC Bank, posted a 17.six per cent rise in internet income at Rs eight,834.three crore in the second quarter finished September 30, 2021, on strong growth in cash flow streams including desire and charges and commissions.

The lender experienced posted a internet income of Rs seven,513.1 crore in the quarter finished September 2020 (Q2FY21). Sequentially, its income was up about fourteen per cent from Rs seven,729.six crore in June 2021 (Q1FY22).

Web desire cash flow (NII), desire gained a lot less desire expended, in Q2FY22 rose by 12.1 per cent, yr-on-yr, to Rs 17,684.4 crore from Rs 15,776.4 crore a yr in the past. The Web Interest Margin (NIM) was secure at 4.1 per cent in Q2FY22. It experienced exact NIM degree in Q2FY21 and Q1FY22.

The Bank in submitting with BSE claimed the non-desire cash flow confirmed a potent rate of growth at 21.five per cent to Rs seven,400.eight crore in Q2FY22 about Rs six,092.five crore in the exact quarter last yr. The charges & commissions grew to Rs 4,945.nine crore from Rs three,940.three crore in Q2FY21. The foreign exchange & derivatives revenue had been up at 867.three crore from Rs 560.4 crore a yr in the past.

However, its gains on sale/revaluation of investments fell sharply to Rs 675.five crore in Q2FY22 from Rs 1,016.2 crore a yr in the past. The miscellaneous cash flow, including recoveries and dividend, rose to Rs 912.1 crore from Rs 575.six crore.

HDFC Bank’s provisions and contingencies rose marginally in Q2FY22 to Rs three,924.seven crore as against Rs three,703.five crore in Q2FY21, the lender extra.

Inside of this, the precise bank loan reduction provisions grew sharply to Rs 2,286.4 crore from ₹ 1,240.six crore. However, the normal and other provisions fell to Rs 1,638.three crore from Rs 2,462.nine crore.

Asset excellent confirmed balance with gross non-performing belongings (NPAs) at 1.35 per cent in Q2FY22, down from 1.37 per cent on a proforma basis a yr in the past. In the second quarter last fiscal yr (FY21), the Supreme Court experienced imposed an interim remain on classifying overdue accounts as NPA amid 1st wave of the pandemic.

Its internet NPAs had been up at .40 per cent in September 2021, from .17 per cent a yr in the past. It held floating provisions of Rs 1,451 crore and contingent provisions of Rs seven,756 crore as on September 30, 2021.

Complete deposits had been up by fourteen.4 per cent at Rs fourteen.06 trillion about September 30, 2020. The share of small price-recent account and discounts accounts (CASA )–was forty six.eight per cent of total deposits as of September 30, 2021.

Complete developments grew 15.five per cent to eleven.ninety eight trillion. The retail loans grew by 12.nine per cent, commercial and rural banking loans grew by 27.six per cent.

The Funds Adequacy Ratio (Automobile) was at twenty per cent as on September 30, 2021, significantly higher than a regulatory need of eleven.07 per cent.

Pricey Reader,

Small business Conventional has constantly strived hard to offer up-to-day data and commentary on developments that are of desire to you and have wider political and financial implications for the country and the world. Your encouragement and regular feed-back on how to increase our providing have only made our solve and determination to these beliefs more powerful. Even through these tricky occasions arising out of Covid-19, we continue on to keep on being dedicated to preserving you informed and updated with credible information, authoritative sights and incisive commentary on topical issues of relevance.
We, even so, have a ask for.

As we struggle the financial affect of the pandemic, we require your help even extra, so that we can continue on to present you extra excellent material. Our membership design has noticed an encouraging reaction from quite a few of you, who have subscribed to our on line material. Far more membership to our on line material can only assistance us obtain the plans of providing you even far better and extra pertinent material. We believe in free of charge, reasonable and credible journalism. Your help via extra subscriptions can assistance us practise the journalism to which we are dedicated.

Guidance excellent journalism and subscribe to Small business Conventional.

Electronic Editor

Next Post

LIVE updates: Raghu Sharma slams Sibal, says no one is above party

Rahul Gandhi | Photograph: Gandhi’s Twitter cope with Dwell news updates: A crucial assembly of the Congress Functioning Committee (CWC), the optimum choice-generating overall body of the celebration, will get location right now at the All India Congress Committee (AICC) headquarters in New Delhi. At the assembly, CWC is envisioned […]