The core Q2 net interest margin (NIM) was unchanged on a sequential basis at 4.1%.

HDFC Bank on Saturday reported 17.6% year-on-year (year-over-year) growth in net income for the quarter ended September at Rs 8,834.31 crore thanks to a 21% year-over-year increase in other income at 7,401 crore rupees, with net interest income (NII) growing 12% year-on-year.

The bank’s provisions increased 6% year-on-year to Rs 3,924.7 crore, of which Rs 2,286.4 crore. In a statement, HDFC Bank said total provisions for the current quarter included approximately 1,200 crore rupees in conditional provisions. The bank’s gross non-performing asset (ANP) ratio in the second quarter fell 12 basis points (bps) sequentially to 1.35% and the net ANP ratio fell eight basis points to 0.4% to September 30.

HDFC Bank held floating provisions of Rs 1,451 crore and contingent provisions of Rs 7,756 crore as of September 30, 2021. Total provisions – comprising specific, floating, contingent and general provisions – represented 163% of gross ANP as of September 30, 2021. September 30, 2021.

The core Q2 net interest margin (NIM) was unchanged on a sequential basis at 4.1%.

Total advances as of September 30, 2021 were Rs 11.99 lakh crore, up 15.5% from September 30, 2020. Personal loans increased 13%, commercial and rural bank loans increased by 27.6% and other wholesale loans increased by 6%. Advances abroad represent 3.5% of total advances.

Total deposits as of September 30 stood at Rs 14.06 lakh crore, up 14.4% from September 30, 2020. Current account savings account (CASA) deposits increased by 28, 7%, with SA deposits at Rs 4.52 lakh crore and CA deposits at Rs 2.06 lakh crore. Term deposits stood at Rs 7.48 lakh crore, an increase of 4.2% over the corresponding quarter of the previous year. The CASA ratio stands at 46.8%, compared to 41.6% a year ago.

The lender’s Total Capital Adequacy Ratio (CAR) under Basel III guidelines was 20% as of September 30, compared to 19.1% as of September 30, 2020 and against a regulatory requirement of 11.075%. The Tier-1 CAR stood at 18.7% at September 30, compared to 17.7% at September 30, 2020. The common equity tier-1 (CET-1) ratio stood at 17.4% at September 30 . The risk-weighted assets are at Rs 11.9 lakh crore, compared to Rs 10.37 lakh crore as of September 30, 2020.

The bank’s NBFC subsidiary, HDB Financial Services, posted a net profit of Rs 191.7 crore at T2FY22, compared to a loss of Rs 85 crore at T2FY21. The company’s provisions and contingencies for the quarter were Rs 634 crore, down 32% year-on-year. The total loan portfolio stood at Rs 60,008 crore as of September 30, up 0.44% from Rs 59,744 crore as of September 30, 2020. As of September 30, the gross NPA ratio based on approach used for non-bank lenders was 6.1%. more than 200 basis points less than in the previous quarter.

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