HDFC Bank, the largest private sector bank in India, reported a net profit of ₹16,820 crore for the second quarter of fiscal year 2025, marking a 5% increase compared to ₹15,976 crore in the same period last year. The bank’s net interest income (NII) also saw a 10% rise, reaching ₹30,114 crore, up from ₹27,385 crore in the corresponding quarter last year.
The bank’s gross non-performing assets (GNPA) stood at 1.36%, slightly up from 1.33% in the previous quarter and 1.34% a year ago. Similarly, net non-performing assets (NNPA) rose from 0.39% to 0.41% quarter-on-quarter.
HDFC Bank’s balance sheet size expanded to ₹36,881 billion as of September 30, 2024, a 7.9% increase from ₹34,163 billion on September 30, 2023. Total deposits grew by 15.1% year-on-year to ₹25,001 billion. Of this, CASA (Current Account Savings Account) deposits contributed ₹8,835 billion, showing an 8.1% increase. Time deposits surged 19.3% to ₹16,165 billion, making CASA deposits 35.3% of total deposits.
The bank’s average deposits for the quarter ending September 30, 2024, stood at ₹23,540 billion, reflecting a 15.5% growth from ₹20,385 billion in the same quarter last year. Average CASA deposits increased by 7.3% year-on-year but declined by 0.3% quarter-on-quarter to ₹8,084 billion. Gross advances climbed to ₹25,190 billion, representing a 7.0% rise from the same period last year. Notably, retail loans jumped by 11.3%, commercial and rural banking loans by 17.4%, while corporate and wholesale loans dropped by 12%.
The bank’s advances under management increased by 10.2% year-on-year to ₹25,639 billion. For the half-year ending September 30, 2024, total income was ₹1,692 billion, compared to ₹1,362 billion in the same period last year. Net revenue rose to ₹821 billion from ₹709 billion, and profit after tax for the half-year reached ₹330 billion, an 18.1% increase year-on-year.
As of September 30, 2024, the bank’s gross NPAs were 1.36% of gross advances, marginally higher than the previous quarter and last year’s figures. Its branch network expanded significantly, reaching 9,092 branches and 20,993 ATMs across 4,088 cities and towns, compared to 7,945 branches and 20,596 ATMs in 3,836 cities and towns a year earlier. Rural and semi-urban areas accounted for 51% of HDFC Bank’s branches. The bank also had 15,217 business correspondents, primarily through Common Service Centres (CSCs). As of September 30, 2024, HDFC Bank employed 2,06,758 people, an increase from 1,97,899 in the previous year.
Disclaimer:
The information provided is based on publicly available financial reports and data as of the stated period. It is for informational purposes only and should not be construed as financial advice or an endorsement of any investment strategy. Readers are encouraged to conduct their own research or consult a financial advisor before making any investment decisions. The accuracy and completeness of the information cannot be guaranteed. Past performance does not guarantee future results.
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