HDFC Bank Q1 Results FY2023, PAT at Rs.9196 Crore

HDFC Bank Q1 Results FY2023

On 16th July  2022, HDFC Bank announced its quarterly results for the first quarter of FY2023. 

 

Q1FY23 Key Highlights:

 

- The Bank recorded a core net revenue to Rs.27,181.4 crores, which grew by 19.8% YoY.

- The total net revenues were Rs. 25,869.6 crores for Q1FY23.

- Net interest income for Q1FY23 grew by 14.5% to Rs. 19,481.4 crores from Rs. 17,009.0 crores for the quarter ended June 30, 2021, driven by advances growth of 22.5%, deposits growth of 19.2%, and total balance sheet growth of 20.3%.

- Net profit for the quarter is Rs.9196 crores up by 14.5% YoY.

 

Business Highlights:

 

- The total credit cost ratio was at 0.91%, as compared to 1.67% for the quarter ending June 30, 2021.  

- Total balance sheet size was Rs. 2,109,772 crores as against Rs.1,753,941 crores as of June 30, 2021, a growth of 20.3%.

- Total Deposits showed robust growth and were at Rs. 1,604,760 crores as of June 30, 2022, an increase of 19.2% over June 30, 2021. 

- CASA deposits grew by 20.1% with savings account deposits at Rs. 514,063 crore and current account deposits at Rs. 220,584 crores. 

-Time deposits were at Rs. 870,113 crores, an increase of 18.5% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 45.8% of total deposits as of June 30, 2022

- Total advances as of June 30, 2022, were Rs. 1,395,068 crores, an increase of 21.6% over June 30, 2021. 

- Retail loans grew by 21.7%, commercial and rural banking loans grew by 28.9% and corporate and other wholesale loans grew by 15.7%. Overseas advances constituted 3.5% of total advances.

- The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines (including profits for the quarter ended June 30, 2022) was at 18.1% as on June 30, 2022 (19.1% as on June 30, 2021) as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%, and an additional requirement of 0.2% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB).

- Gross non-performing assets were at 1.28% of gross advances as of June 30, 2022, (1.06% excluding NPAs in the seasonal agricultural segment) against 1.47% as of June 30, 2021, (1.26% excluding NPAs in the seasonal agrarian segment). Net nonperforming assets were at 0.35% of net advances as on June 30, 2022.

 


About the Author

Shreya Anaokar is a Content Writer at 5paisa. She has completed her Master’s in Finance and Graduation in Statistics from the University of Mumbai. 

Disclaimer

Investment/Trading is subject to market risk, past performance doesn’t guarantee future performance. The risk of trading/investment loss in securities markets can be substantial. Also, the above report is compiled from data available on public platforms.
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