MUMBAI: HDFC Bank on Saturday reported a year-on-year growth of 17.5% in net profit for the second quarter of FY12. Bank’s net profit was ₹8,834.31 crore for the quarter ended Sept. ₹7,513.11 crore during the same period last year.
Net interest income, or principal income, up 12% year-over-year ₹17,684 crores. Other income also grew 21.5% compared to a year ago ₹7,401 crore.
The bank’s asset quality improved on a sequential basis, with gross non-performing assets ratio at 1.35%, as against 1.47% on June 30. The net NPA ratio also fell 8 basis points quarter-on-quarter to 0.4%.
Total provisions for the bank grew marginally at 6% year-on-year ₹3,925 crores.
As per the quarterly data shared by the bank, ₹Retail loans worth Rs 5,647.5 crore were restructured under the Reserve Bank of India framework for Covid-affected borrowers, which is about a quarter or so. ₹1,283 crores became non-performing as of 30 September. HDFC Bank also wrote off retail loans ₹808.5 crore during the second quarter.
The total loan restructured under the special window of RBI was ₹7,829.48 crore, out of which, ₹1,687 crore became NPAs and ₹856.7 crores were written off.
The level of reengineering implemented under Resolution Framework 2.0 was very high. ₹14,100 crore towards personal loan, ₹1500 crore personal business loan and Rs 1,780 crore small business loan. Together, the bank has restructured and made 1.45% of the advances under this framework ₹2000 crore for this.
HDFC Bank’s total advances up 15.4 percent year-on-year ₹11.98 lakh crore. Of this, retail advances grew by 12.9 per cent, commercial and rural banking credit by 27.6%, while wholesale credit grew by 6% over a year ago. Total deposits up 14.4% y-o-y ₹14.06 lakh crore,
Current account savings account deposits grew by 28.7% as compared to a year ago, where CASA deposits now account for 46.8% of total deposits.
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