HDFC Bank's PBT surges 17% in Q2FY20; asset quality remains stable

Deposits grew 23%, and advances rose 19.5% year on year

Private sector lender HDFC Bank on Saturday reported a 17.47 per cent rise in its profit before tax (PBT) for the quarter ended September 30, riding on healthy loan book growth and other income. PBT for the period under review stood at Rs 8,997.40 crore, as against Rs 7,659 crore in the year-ago period. Net profit (after tax) rose about 27 per cent to Rs 6,345 crore, meeting analysts’ expectations.

The bank’s asset quality remained stable on a quarter-on-quarter (QoQ) basis with gross non-performing assets (GNPA) of 1.38 per cent of the total advances, as against 1.40 per cent in the