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Saturday , January 19, 2013
HDFC Bank Q3 net up 30% on higher lending, interest income
Publication: The Hindu Business Line , Agency:Bureau
Edition:Pune/Delhi/Hyderabad/Mumbai/Kolkata , Page No: 6, Location: Top­Center , Size(sq.cms): 308
HDFC Bank Q3 net up 30% on
higher lending, interest income
Expect retail loans to outpace wholesale portfolio for next couple of quarters: ED
Our Bureau
Mumbai,Jan.l8
Higher loan growth and in­
terest income helped HDFC
Bank report a 30 per cent in­
crease in net profit at Rs 1,859
crorc in the third quarter end­
ed December 31,2012.
The second largest private
sector lender had posted a
net profit of Rs 1,430 crore in
the year­ago period.
Net interest income (differ­
ence between interest earned
and interest expended) grew
by 22 per cent to Rs 3,799
crorc as compared with Rs
3,116 crorc in Q3 FY12. 'Other
income' during the quarter
rose by 27 per cent to Rs
1,799 crore (from Rs 1,420
crore in Q3 FY12)
predominantly due to fees
and commissions.
Net advances as on
December 31, 2012, stood at
Rs 2.41­lakh crore, a year­on­
year (y­
Paresh Sukthankar,
Executive
Director, HDFC
Bank.
o­y) increase of 24 per cent.
The proportion of retail loans
and wholesale loans in total
loans was at 53 per cent and
47 per cent, respectively.
Total
deposits grew by 22 per cent
to Rs 2.84­lakh crore.
"We expect the retail book
to outpace the wholesale
portfolio for the next couple
of quarters," said Paresh Suk­
thankar, Executive Director,
HDFC Bank.
Net interest margin in the
quarter remained stable at 4.1
per cent compared with the
corresponding quarter last
year, while it declined from
4 . 2 p e r c e n t i n t h e
previous quarter.
Provisions during the quar­
ter were lower at Rs 307 crore
against Rs 329 crore in the
year­ago period. Sequentially,
it increased from Rs 292 crore
i n t h e J u n e­September
quarter.
Total restructured loans
stood at Rs 685 crore as on
December 31,2012.
It stood at 0.28 per cent,
against 0.37 per cent in the
year­ago quarter.
Shares of HDFC Bank end­
ed lower at Rs 659 per share
on the Bombay Stock
Exchange, down 1.18 per cent
over the previous close.
Beena.parmar@
thehindu.co.in