The country’s largest private sector lender HDFC Bank on Saturday reported an 18.1% rise in its standalone net profit to ₹10,342.2 crore for the quarter ended December, helped by healthy non-interest income and a fall in provisioning for bad loans.
Total income rose to ₹40,651.60 crore in the October-December quarter of FY22, as against ₹37,522.92 crore a year earlier, HDFC Bank said in a filing.
Its non-interest income constituted almost 31% of net revenue at ₹8,183.6 crore, rising about 10% from a year earlier.
Net interest income (interest earned minus interest expended) climbed 13% to ₹18,443.50 crore.
Advances grew 16.5%, driven through relationship management, digital offerings and a breadth of products, the bank said.
Total deposits grew 13.8% to ₹1,445,918 crore as of December. Total advances rose 16.5% to ₹1,260,863 crore.