New Delhi: HDFC bank on October 19 reported a 27 percent rise in its net profit in the second quarter. In the same quarter last year, HDFC bank had posted a net profit of Rs 5,005.73 crore. This year, the profit stands at Rs 6,345 crore.
According to reports, the Mumbai-based lender’s asset quality showed a slight improvement in the July-September period as its gross non-performing assets (NPA) as a percentage of total advances stood at 1.38 percent versus 1.40 percent in the previous quarter. Net NPAs came in at 0.42 percent versus 0.43 percent in the June quarter.
HDFC Bank’s provisions for bad loans rose to Rs. 2,700.68 crore versus Rs. 2,613.66 crore in the previous quarter.
Total deposits as of September 30, 2019 were Rs. 1,021,615 crore, an increase of 22.6 per cent over September 30, 2018. Total advances were at Rs. 896,984 crore, an increase of 19.5 per cent over September 30, 2018.
As of September 30, 2019, the bank’s distribution network was at 5,314 banking outlets and 13,514 ATMs across 2,768 cities/towns as against 4,825 banking outlets and 13,018 ATMs across 2,718 cities/towns as of September 30, 2018.