HDFC Bank, the largest private sector bank, on Saturday, October 19, announced its financial results for the second quarter of the financial year 2024-25, with profit after tax growing 5%, which is better than expected.
India's largest private sector lender HDFC Bank on Saturday reported that its standalone profit after tax for the quarter ended September 2024 rose 5.3% year-on-year (YoY) to Rs 16,821 crore. The PAT figure was above Street estimates. HDFC

The bank's net interest profit income (NII) grew 10% YoY to Rs 30,113 crore during the quarter. Core net interest margin (NIM) on total assets stood at 3.46% and on interest-earning assets at 3.65%.
 

The lender's total deposits grew 15.1% year-on-year to Rs 25,00,100 crore in the September quarter, while gross advances grew 7% year-on-year to Rs 25,19,000 crore.

HDFC Bank's gross NPA rose to 1.36% of gross advances at the end of September as against 1.33% in Q1 FY25 and 1.34% in Q2 FY24. Net non-performing assets stood at 0.41% of advances at the end of the second quarter.

HDFC Bank said its other earnings (non-interest revenue) for the quarter ended September 2024 increased to Rs 11,480 crore as compared to Rs 10,710 crore in the same quarter ended September 30, 2023.

Operating expenses for the quarter increased by 9.7% to Rs 16,890 crore from Rs 15,400 crore in the same quarter last year. The cost to income ratio stood at 40.6% in the quarter.

HDFC Bank's total balance sheet size increased from Rs 34,16,300 crore to Rs 36,88,100 crore. Total deposits grew by 15.1% to Rs 25,00,100 crore, while CASA deposits grew by 8.1% to savings account deposits of Rs 6,08,100 crore and current account deposits of Rs 2,75,400 crore.

Term deposits stood at Rs 16,16,500 crore, a growth of 19.3% over the same quarter last year, resulting in CASA deposits accounting for 35.3% of total deposits by the end of September.