HDFC Bank Q3 profit rises 33% to Rs 7,416 cr on higher interest income

Guwahati: HDFC Bank earned a net profit of Rs 7,416.5 crore an increase of 32.8% for the third quarter ended on December 31, 2019, against Rs 5,585.9 crore in the corresponding quarter last year. Total Balance Sheet size registered a growth of 19.4% to Rs 1,395,336 crore as against Rs 1,168,556 crore as of December 31, 2019.

For the quarter ended December 31, 2019, the net interest income (interest earned less interest expended) grew to Rs 14,172.9 crore and net interest margin for the quarter remained stable at 4.2%. Along with this, the Bank’s net revenues (net interest income plus other income) increased by 9.1 % to Rs 20,842.2 crore for the quarter ended December 31, 2019, over the corresponding quarter of the previous year. Total Deposit as of December 31, 2019, were Rs 1,067,433 crore, an increase of 25.2 % over December 31, 2018. CASA deposits grew by 21.5% with Savings Accounts deposit at Rs 277,928 crore and Current Account deposits at Rs 143,900 crore, stated a press release.

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