Mumbai: HDFC bank It has reported a net profit of Rs 10,055 crore for the quarter ended March 2022, an increase of nearly 23% from Rs 8,186 crore for the same period in FY15. Its net profit for the year stood at Rs 36,916 crore, an increase of 18% from Rs 31,165 crore in FY15.
The bank’s profit rose 20.8 per cent to Rs 13.7 crore. Its deposits grew 16.8% to Rs 15.59 lakh crore. The balance sheet expansion predates the proposed reverse merger with its parent, HDFC. The board of the bank and its parent had earlier this month approved the merger.
Addressing analysts after the results, Srinivasan Vaidyanathanchief Financial Officer HDFC The bank said the bank’s wholesale loans grew faster than retail loans, which were earlier the bank’s mainstay.
“This has reversed. Retail now accounts for 45% of our advances and wholesale is 55%,” Vaidyanathan said. He said the shift in credit from unsecured retail to high-end corporates resulted in net interest margin of 4.2 in FY11. % fell to 4% in FY 2012.
However, when adjusted for credit cost (default), the net interest margin increased to 3.3% from 3.1% in FY11.
The bank’s profit rose 20.8 per cent to Rs 13.7 crore. Its deposits grew 16.8% to Rs 15.59 lakh crore. The balance sheet expansion predates the proposed reverse merger with its parent, HDFC. The board of the bank and its parent had earlier this month approved the merger.
Addressing analysts after the results, Srinivasan Vaidyanathanchief Financial Officer HDFC The bank said the bank’s wholesale loans grew faster than retail loans, which were earlier the bank’s mainstay.
“This has reversed. Retail now accounts for 45% of our advances and wholesale is 55%,” Vaidyanathan said. He said the shift in credit from unsecured retail to high-end corporates resulted in net interest margin of 4.2 in FY11. % fell to 4% in FY 2012.
However, when adjusted for credit cost (default), the net interest margin increased to 3.3% from 3.1% in FY11.