HDFC Bank board approves bank’s results

Srinagar, Jan 14, : The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and nine months ended December 31, 2022, at its meeting held in Mumbai on Saturday, January 14, 2023. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

The Bank’s net revenue, grew by 18.3% to Rs 31,487.7 crore for the quarter ended December 31, 2022 from Rs 26,627.0 crore for the quarter ended December 31, 2021. Excluding net trading and mark to market income, the net revenue grew by 22.1% over the quarter ended December 31, 2021.

Net interest income (interest earned less interest expended) for the quarter ended December 31, 2022 grew by 24.6% to Rs 22,987.8 crore from Rs 18,443.5 crore for the quarter ended December 31, 2021. Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.

The total credit cost ratio was at 0.74%, as compared to 0.94% for the quarter ending December 31, 2021.

Profit before tax (PBT) for the quarter ended December 31, 2022 was at Rs 16,217.6 crore. After providing Rs 3,958.1 crore for taxation, the Bank earned a net profit of Rs 12,259.5 crore, an increase of 18.5% over the quarter ended December 31, 2021.

Balance Sheet: As of December 31, 2022

Total balance sheet size as of December 31, 2022 was ₹ 2,295,305 crore as against ₹1,938,286 crore as of December 31, 2021, a growth of 18.4%.

For the nine months ended December 31, 2022, the Bank earned a total income of Rs 138,949.8 crore as against Rs 116,177.2 crore in the corresponding period of the previous year.

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines (including profits for the nine months ended December 31, 2022) was at 19.4% as on December 31, 2022 (19.5% as on December 31, 2021) as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%, and an additional requirement of 0.2% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).

Gross non-performing assets were at 1.23% of gross advances as on December 31, 2022 (1.00% excluding NPAs in the agricultural segment), as against 1.23% as on September 30, 2022 (1.03% excluding NPAs in the agricultural segment), and 1.26% as on December 31, 2021 (1.04% excluding NPAs in the agricultural segment).