HDFC Bank Q3 profit rises 18% to Rs 10,342 crore, net interest income grows to Rs 18,444 crore

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HDFC Bank Q3 | 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.

HDFC Bank reported Q3FY22 Earnings

HDFC Bank reported Q3FY22 Earnings

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Leading private sector lender HDFC Bank on January 15 clocked standalone net profit of Rs 10,342 crore for the December 2021 quarter, against profit of Rs 8,758.29 crore in corresponding period last fiscal.

Net interest income, the difference between interest earned and interest expended, climbed to Rs 18,444 crore in Q3FY22, compared to Rs 16,317.61 crore in year-ago period.

In previous quarter (Q2FY22), profit was at Rs 8,834.31 crore and net interest income at Rs 17,684.39 crore.

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.”

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HDFC Bank share price settled higher at Rs 1,545.25 on the BSE, up 1.11 percent on Friday. The stock fell more than 3 percent since the beginning of December 2021 quarter, underperforming the benchmark index Bank Nifty and Nifty50 that gained 2.5 percent and 3.6 percent respectively in the same period.