HDFC Bank has declared its Q4 FY23 financial results.
HDFC Bank’s Q4 FY23 net interest income rises 23.7 percent to Rs 23,351.8 crore from Rs 18,872.7 crore a year ago
India’s largest private sector lender HDFC Bank on Saturday reported a 16.53 per cent jump in its standalone net profit to Rs 12,047 crore for January-March 2023 (Q4 FY23). Its net interest income (interest earned less interest expense) rose 23.7 per cent to Rs 23,351.8 crore for the quarter ended March 31, 2023, from Rs 18,872.7 crore a year ago.
On a consolidated basis, the largest private sector bank’s net profit rose 20.6 per cent to Rs 12,594.47 crore for the quarter ended March 31, 2022, according to a BSE filing.
ALSO READ: HDFC Bank declares dividend of Rs 19 per share for FY23; Record Date, Check Payment Date
“The board of directors in its meeting held today (April 15) has recommended a dividend of Rs 19 per equity share for each fully paid-up (i.e. 1,900 per cent) equity share of Re 1 out of net profit for the year ended March. 31, 2023, subject to the approval of the shareholders in the forthcoming Annual General Meeting of the Bank,” according to the filing.
HDFC Bank’s net revenue rose 21 per cent to Rs 32,083 crore during the March 2023 quarter, as against Rs 26,509.8 crore in the year-ago period.
“Operating expenses for the quarter ended March 31, 2023 were at Rs 13,462.1 crore, up 32.6 per cent from Rs 10,152.8 crore during the corresponding quarter last year,” the bank said in a statement.
The bank’s balance sheet size as on March 31, 2023 was Rs 24,66,081 crore as against Rs 20,68,535 crore as on March 31, 2022, a growth of 19.2 per cent.
Its CASA (current account savings account) deposits grew by 11.3 per cent
Savings account deposits Rs 5,62,493 crore and current account deposits Rs 2,73,496 crore.
HDFC Bank’s gross non-performing assets (GNPAs) stood at 1.12 per cent of gross advances as on March 31, 2023, from 1.23 per cent as on December 31, 2022. Its net NPA stood at 0.27 per cent of net advances as on March 31. , 2023.
The total capital adequacy ratio (CAR) of the bank as per Basel III guidelines stood at 19.3 per cent as on March 31, 2023, as against 18.9 per cent a year ago. This is also higher than the regulatory requirement of 11.7 per cent, which includes a capital conservation buffer of 2.5 per cent, and an additional requirement of 0.2 per cent on account of a bank identified as a domestic systemically important bank (D-SIB).
For the full financial year 2022-23, HDFC Bank’s net profit stood at Rs 44,108.7 crore, up 19.3 per cent over the year ended March 31, 2022.
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