HDFC Bank gains after Q3 PAT rises 2% YoY to Rs 16,736 cr

HDFC Bank advanced 1.17% to Rs 1,661 after the bank reported 2.21% increase in standalone net profit to Rs 16,735.50 crore in Q3 FY25 as against Rs 16,372.54 crore posted in Q3 FY24.

Total income rose 7.02% YoY to Rs 87,460.44 crore in the quarter ended 31 December 2024.

The profit before tax for the quarter stood at Rs 21,846.55 crore, registering a 12.43% increase compared to Rs 19,430.66 crore reported in Q3 FY24.

Net interest income (NII) increased by 7.7% to Rs 30,650 crore in Q3 FY25 as compared to Rs 28,470 crore recorded in Q3 FY24. The core net interest margin was 3.43% on total assets and 3.62% based on interest-earning assets in Q3 FY25.

As of 31 December 2024, the bank's average deposits stood at Rs 24,52,800 crore, registering a 15.9% increase compared to Rs 21,17,100 crore as on 31 December 2023. Additionally, the bank's average CASA deposits grew by 6% YoY to Rs 8,17,600 crore in Q3 FY25.

Gross advances stood at Rs 25,42,600 crore as on 31 December 2024, registering a growth of 3% YoY. Retail loans jumped 10%, commercial and rural banking loans grew by 11.6% and corporate and other wholesale loans declined by 10.4%. Overseas advances constituted 1.8% of total advances.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 36,018.58 crore as on 31 December 2024 as against Rs 34,250.62 crore as on 30 September 2024 and Rs 31,011.67 crore as on 31 December 2023.

The ratio of gross NPAs to gross advances increased to 1.42% as on 31 December 2024 as against 1.36% as on 30 September 2024 and 1.26% as on 31 December 2023.

The ratio of net NPAs to net advances stood at 0.46% as on 31 December 2024 as against 0.41% as on 30 September 2024 and 0.31% as on 31 December 2023.

Pre-provision operating profit (PPOP) increased 5.72% YoY to Rs 25,000.40 crore during the quarter ended December 2024.

As of 31, December 2024, the bank's total Capital Adequacy Ratio (CAR) under Basel III guidelines stood at 20% as compared to 18.4% on 31 December 2023. The Tier 1 CAR was 18%, and the Common Equity Tier 1 Capital ratio was 17.5%. The bank's risk-weighted assets amounted to Rs 25,30,500 crore.

HDFC Bank is a private sector lender. As of 31 December 2024, the banks distribution network was at 9,143 branches and 21,049 ATMs across 4,101 cities/towns as against 8,091 branches and 20,688 ATMs across 3,872 cities/towns as of 31 December 2023.

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