- Saturday, October 19, 2024
The country’s biggest private sector lender registered a 10 per cent growth in Net Interest Income during the second quarter ended September
By: Shajil Kumar
HDFC BANK on Saturday posted a marginal 5 per cent increase in its standalone profit at ₹168.21 billion (£1.53bn) in the second quarter ended September 2024.
The country’s biggest private sector lender had earned a net profit of ₹159.76bn (£1.46bn) in the same quarter a year ago.
Total income increased to ₹855 billion (£7.79bn) during the quarter under review against ₹784.06bn (£7.15bn) in the same period last year, HDFC Bank said in a regulatory filing.
The bank reported interest income of ₹740.17bn (£6.75bn)crore during the quarter compared to ₹676.98bn (£6.17bn) in the same period a year ago.
Net Interest Income (NII) improved to ₹301.10bn (£2.74bn), from ₹273.90bn (£2.50bn) in the last year’s second quarter, registering a 10 per cent growth.
As regards asset quality, the bank witnessed slight deterioration with gross Non-Performing Assets (NPAs) rising to 1.36 per cent of the gross loans by the end of September 2024 from 1.34 per cent a year ago.
Similarly, net NPAs or bad loans rose to 0.41 per cent from 0.35 per cent at the end of the second quarter of the previous fiscal.
On a consolidated basis, the bank logged a growth of 6 per cent in net profit to ₹178.26bn (£1.63bn) as against ₹168.11bn (£1.53bn) in Q2FY24. (PTI)
