HDFC Bank Q3 net rises 20.8% to Rs10,000 cr; revenue up 12.1% at Rs26,627 cr

HDFC Bank has reported a 20.8 per cent year-on-year jump in its net profit, at Rs10,591 crore and a 12.1 per cent increase in net revenue, at Rs26,627 crore, for the fiscal third quarter ended 31 December 2021.

The bank had reported a net revenue Rs23,760.8 crore in the corresponding quarter last year.
Consolidated advances of the bank for the October-December 2021-22 quarter stood at Rs13,12,142 crore - an increase of 15.8 per cent YoY. 
In its quarterly earnings report, the bank also reported a 13 per cent YoY growth in its net interest income (NII) to Rs18,443.5 crore against Rs16,317.6 crore at the end of December 2020.  
HDFC Bank said its after-tax profit rose to Rs10,342.2 crore.
The bank also reported a 9.9 per cent increase in its non-interest revenue at Rs8,183.6 crore, which it said comprised 30.7 per cent of the net revenue for the quarter. Other income consisted of fees and commissions of Rs5,075.1 crore (Rs4,9974.9 crore in Q3FY21), foreign exchange and derivates of Rs949.5 crore (Rs562,2 crore in Q3FY21), gain on sale/revaluation of investments of Rs1,046.5 crore (Rs1,109 crore in Q3FY21), and miscellaneous income, including recoveries and dividend, of Rs1,112.5 crore (Rs797.1 crore in Q3FY21).
"We have added 294 branches and 16,852 people over the past 12 months and made other investments to position ourselves and capitalise on the growth opportunity," the bank said in the report
Also, HDFC Bank said its operating expenses for the quarter was 14.9 per cent higher at Rs9,851.1 crore, compared to Rs8,574.8 crore in Q3FY21. Cost-to-income ratio stood at 37 per cent.
The bank reported a total balance sheet size of Rs19,38,286 crore as of 31 December 2021, as against Rs16,54,228 crore in the year-ago period- a growth of 17 per cent. 
HDFC Bank had total deposits of Rs14,45,918 crore at the end of Q3FY22 – a 13.8 per cent increase YoY. The bank's CASA deposits grew 24.6 per cent, with savings account deposits of Rs4,71,029 crore and current account deposits of Rs7,64,693 crore - a 5.6 per cent YoY increase.
Retail loans of the bank grew 13.3 per cent and commercial and rural loans grew 29.4 per cent while corporate and other wholesale loans increased by 7.5 per cent.
As of 31 December 2021, the bank had a distribution network of 5,779 branches 17,238 ATMs/cash deposit machines across 2,956 cities and towns.
Gross non-performing assets of the bank stood at 1.26 per cent of gross advances, down from 1.35 per cent QoQ and 1.385 YoY. Net non-performing assets were at 0.37 per cent of net advances.