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HDFC Bank Q3 net profit rises 18.1%

HDFC Bank, the country's largest private sector lender earned a net profit of Rs 8758.3 crore, an increase of 18.1% over the quarter ended Dec 31, 2020

HDFC Bank Q3 net profit rises 18.1%

Sentinel Digital Desk

Guwahati: HDFC Bank, the country's largest private sector lender earned a net profit of Rs 8758.3 crore, an increase of 18.1% over the quarter ended December 31, 2020. Total balance sheet size as of December 31, 2020 was Rs 1,654,228 crore as against Rs 1,395,336 crore as of December 31, 2019, a growth of 18.6%. Net interest income (interest earned less interest expended) for the quarter ended December 31, 2020 grew by 15.1% to Rs 16,317.6 crore from Rs 14,172.9 crore for the quarter ended December 31, 2019. The bank's persistent focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 146%, well above the regulatory requirement.

Total balance sheet size as of December 31, 2020 was Rs 1,654,228 crore as against Rs 1,395,336 crore as of December 31, 2019, a growth of 18.6%. Total deposits as of December 31, 2020 were Rs 1,271,124 crore, an increase of 19.1% over December 31, 2019. CASA deposits grew by 29.6% with savings account deposits at Rs 374,639 crore and current account deposits at Rs 172,108 crore. The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.9% as on December 31, 2020 (18.5% as on December 31, 2019) as against a regulatory requirement of 11.075%, stated a press release.

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