HDFC Bank Posts Rs 5,005 Crore Net Profit in Q2 2018

HDFC Bank Posts Rs 5,005 Crore Net Profit in Q2 2018

HDFC Bank recored a net profit of Rs 5,005.70 crore for the quarter ending September (Q2).  The private sector bank had earned Rs 11,763 Crore Net Interest Income (NII) in the said quarter, according to the bank statement.  NII, the difference between interest earned and interest expended, grew 20.6 percent compared to the same quarter last year.    Asset quality was largely stable, with gross bad loans as a percentage of total loans standing at 1.33 per cent at the end of September.

According to the bank, the Loan book of the bank grew 24.1 percent YoY to Rs 7.50 lakh crore, while deposits growth was 20.9 percent at Rs 8.33 lakh crore in the September quarter.

Asset quality of the bank was stable as gross non-performing assets (GPAs) stood flat at 1.33 percent sequentially. Net NPA fell to 0.4 percent in Q2 as against 0.41 percent in the June quarter.