CountryтАЩs largest private sector lender HDFC Bank Ltd on Saturday reported a 22.30 per cent jump in its consolidated net profit to Rs 11,125.21 crore for the second quarter ended September 30. The net interest income grew by nearly 19 per cent year-on-year to Rs 21,021 crore, as per the statement.
The bankтАЩs core net revenue (excluding trading and Mark to Market losses), grew by 18.3 per cent to Rs 28,869.8 crore for the quarter from Rs 24,409.7 crore for the quarter ended September 30, 2021.
The total net revenues (net interest income plus other income) were Rs 28,616.7 crore for the quarter ended September 30, 2022.
The net interest income (interest earned less interest expended) for the quarter grew by 18.9 per cent to Rs 21,021.2 crore from Rs 17,684.4 crore in Q2 2021.
Overall, for the reporting quarter, its total income rose to Rs 46,182 crore from Rs 38,754 crore in the year-ago period, while the expenditure, excluding provisions and contingencies, climbed to Rs 28,790 crore from Rs 22,947 crore, the bank said.
Core net interest margin was at 4.1 per cent on total assets and 4.3 per cent based on interest-earning assets.
Bad loans
The asset quality improved sequentially this quarter as compared to data from the last fiscal. The overall share of gross non-performing assets improved to 1.23 per cent of the book as against 1.35 per cent in the year-ago period and 1.28 per cent three months ago.
The network
As of September 30, 2022, the BankтАЩs distribution network was at 6,499 branches and 18,868 ATMs/Cash Deposit & Withdrawal Machines (CDMs) across 3,226 cities/towns as against 5,686 branches and 16,642 ATMs / CDMs across 2,929 cities / towns in Q2 2021. Around 50 per cent of our branches are in semi-urban and rural areas. In addition, the bank said it employees around 161,027 officers at different levels as of September 30 as against 129,341 in Q2 2021.
