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India's largest private sector lender HDFC Bank on Saturday posted Rs 10,055.20 crore net profit for the quarter ended March 2022 as against Rs 8,186.5 crore recorded in the corresponding quarter of the previous year, registering 22.8 per cent year-on-year growth.
The bank's profit before tax during the fourth quarter of 2021-22 rose by 20.3 per cent year-on-year to Rs 13,044.7 crore. After providing Rs 2,989.5 crore for taxation, the bank earned a net profit of Rs 10,055.2 crore during the quarter under review. HDFC Bank's net revenue, which is the sum of net interest income and other income, rose by 7.3 per cent to Rs 26,509.8 crore for the quarter ended March 31, 2022 from Rs 24,714.1 crore in the corresponding quarter of the previous year. Net revenues, excluding trading income, grew by 10.4 per cent to Rs 26,550.2 crore for the quarter under review from Rs 24,059 crore for the corresponding quarter of 2020-21. The bank's net interest income, interest earned less interest expended, for the quarter ended March 31, 2022 grew by 10.2 per cent to Rs 18,872.7 crore from Rs 17,120.2 crore for the quarter ended March 31, 2021. Advances were up 20.8 per cent, with the growth coming across products and segments, HDFC Bank said in a statement. The bank's core net interest margin stood at 4 per cent on total assets, and 4.2 per cent based on interest-earning assets during the quarter under review. "We continued to add new liability relationships at a robust pace of 2.4 million during the quarter. Liquidity coverage ratio was healthy at 112 per cent, well above the regulatory requirement," HDFC Bank said. (ANI)
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