Tri Network

Main Menu

  • Home
  • Economic growth
  • Corporate restructuring
  • Confirmation Bias
  • Bank Apr Uk
  • Financial Affairs

Tri Network

Header Banner

Tri Network

  • Home
  • Economic growth
  • Corporate restructuring
  • Confirmation Bias
  • Bank Apr Uk
  • Financial Affairs
Corporate restructuring
Home›Corporate restructuring›Net profit rises 18%, in line with estimates

Net profit rises 18%, in line with estimates

By Laura Wirth
January 15, 2022
12
0

The net profit of HDFC Bank Ltd. increased in the third quarter thanks to higher total income and lower provisions.

India’s biggest private sector lender saw its net profit rise 18% from a year earlier to Rs 10,342 crore in the three months to December, according to its exchange filing. This compares to the consensus estimate of Rs 10,136 crore from analysts tracked by Bloomberg.

  • Its net interest income, or base income, rose 13% year-on-year to Rs 18,443 crore.

  • Other income jumped 10% to Rs 8,183.6 crore.

The quality of the private lender’s assets improved during the quarter under review.

  • Its gross non-performing asset ratio fell to 1.26%, down 9 basis points sequentially.

  • The net NPA ratio also declined by 3 basis points over the previous three months to 0.37%.

  • Total provisions in the quarter fell 12.3% year-on-year to Rs 2,994 crore.

The bank, as of December 31, had restructured retail loans worth Rs 14,564 crore under the Reserve Bank of India’s second Covid-19 restructuring plan. Sole proprietorship loans worth Rs 1,566 crore and small business loans worth Rs 1,889 crore have also been restructured under the expanded scheme announced in May 2021.

  • Total deposits for HDFC Bank increased by 13.8% from a year ago to Rs 14.46 lakh crore.

  • Current account-savings account deposits represent 47.1% of total deposits.

  • Total advances increased by 16.5% year-on-year to Rs 12.6 lakh crore.

  • Personal loans increased by 13.3%, commercial and rural bank loans jumped by 29.4% and business loans increased by 7.5% compared to a year ago.

Related posts:

  1. Rising job cuts in New Zealand
  2. Can a Superstar Endorsement Gas a Payless Reboot? – RetailWire
  3. Shuaa Capital Board of Administrators proposes first dividend after merger amid robust 2020
  4. Bombardier motion: what must you do with this motion?

Categories

  • Bank Apr Uk
  • Confirmation Bias
  • Corporate restructuring
  • Economic growth
  • Financial Affairs
  • TERMS AND CONDITIONS
  • PRIVACY AND POLICY