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HDFC Bank Q3 FY23 Net Profit Rises 18% YoY To Rs 12,259 Cr
The lender’s net interest income in the quarter gone by increased nearly 25 per cent YoY to Rs 22,988 crore
Photo Credit : Reuters
Country’s largest private lender HDFC Bank on Saturday reported an 18.5 per cent year-on-year (YoY) jump in its standalone net profit at Rs 12,259 crore for the quarter ended December 31, 2022.
It consolidated net profit also jumped 19.9 per cent YoY to Rs 12,698 crore in the quarter under review.
The lender’s net interest income in the quarter gone by increased nearly 25 per cent YoY to Rs 22,988 crore.
Its net revenue in the quarter gone by grew by 18.3 per cent YoY to Rs 31,487.7 crore.
Provision and contingencies for the quarter dropped 6.3 per cent YoY to Rs 2,806 crore.
The bank saw improvement in its asset quality with gross non-performing assets as a percentage of total loans was 1.23 per cent
Total deposits also grew by 19.9 per cent YoY and stood at Rs 17.33 lakh crore as of December end.
Current Account Savings Account (CASA) deposits grew by 12 per cent with savings account deposits at Rs 5,35,206 crore and current account deposits at Rs 2,27,745 crore.
HDFC Bank closed flat on Friday at Rs 1,601 apiece on the NSE. The stock has gained 18 per cent in the past six months.