HDFC Bank Limited
 |
| ADITYA PURI, MD |
FINANCIAL
RESULTS
FOR THE
QUARTER AND NINE MONTHS
ENDED
DECEMBER 31, 2012
Ø
The Bank’s total
income
for the quarter ended December 31, 2012, was Rs.10,506.5 Crores as
against Rs.8,622.6 crores for the quarter ended December 31, 2011.
Ø
Net revenues (net
interest income plus other income) were at Rs.5,597.7 crores for the quarter
ended December 31, 2012, an increase of
23.4% over Rs.4,536.0 crores for the corresponding quarter of the previous
year.
Ø
Net interest income (interest
earned Less interest expended) for the quarter ended December 31, 2012, grew by
21.9% to Rs.3,798.9 Crores.
Ø
This was driven by loan growth of 24.3%
and a net interest margin for the
quarter of 4.1%.
Ø
Other income (non-interest
revenue)
for the quarter ended December 31, 2012, was Rs.1,798.9crores as against
Rs.1,420.0 crores in the corresponding quarter ended December31,2011.
Ø
The main contributor to other income for the
quarter was fees & commissions of Rs.1,401.9 crores, up by 24.3% over Rs.1,127
.6crores in the corresponding quarter ended December31,2011.
Ø
The two other Components of other income were foreign exchange & derivatives revenue of Rs.258.0 crores (Rs.365.6 crores for the
corresponding quarter of the previous year ) and gain on
revaluation / sale of investments of Rs.135.8
crores (loss of Rs.81.8 crores for the
quarter ended December 31, 2011).
Ø
Operating expenses for the
quarter ended December 31, 2012, were Rs.2,574.1 crores, an increase of 19.3 %
over the corresponding quarter of the previous year.
Ø
The core cost – to –income ratio (excluding
bond gains/losses) for the quarter ended December 31, 2012 was 47.1%.
Ø
Provisions and contingencies for the
quarter ended December 31, 2012 were Rs.307.2 crores (consisting primarily of specific,
general and floating provisions) as against Rs.329.2 crores for the corresponding quarter ended December 31, 2011and Rs.292.9crores
for the preceding quarter ended September 30, 2012.
Ø
Profit before tax at Rs.2,716.4
crores for the quarter ended December 31, 2012, was up 32.6% over Rs.2,048.8
crores for the quarter ended December
31, 2011.
Ø
After providing Rs.857.3 crores for taxation, the
Bank earned an Net profit of Rs.1,859.1 crores, an increase of 30.0% over
the quarter ended December31, 2011. Thus, YoY improvement in Net Profit is
quite impressive, as always.
Ø
Balance Sheet: As of December
31, 2012
Ø
The Bank’s total
balance sheet size increased by 14.4% from Rs.335,466 crores as of December 31,2011, to Rs.383,729 crores as of December 31, 2012.
Ø
Total net advances as of December
31, 2012,were Rs.241,493 crores, an increase of 24.3% over December 31, 2011.
Ø
The mix of loans between
the retail and wholesale segments was 53:47 as on December 31, 2012.
Ø
Total deposits were at Rs.284,119
crores, an increase of 22.2% over December 31, 2011.
Ø
Savings deposits grew 16.5%to
Rs.81,942 crores and current deposits
grew 10.4% to Rs.47,004 crores. The CASA ratio as at December 31, 2012,was
45.4%.
Ø Nine months ended December 31, 2012:
Ø
For the nine months ended December 31, 2012, the Bank
earned a total income of Rs.29,913
.2crores as against Rs.23,650.0 crores in
the corresponding period of the previous year.
Ø
Net revenues (net
interest income plus other income) for the nine months ended December 31,2012,
were Rs.15,688.1 crores, as against Rs.12,660.2
crores for the nine months ended December 31, 2011 , an increase of 23.9%.
Ø
Net profit for the nine
months ended December 31, 2012 was Rs.4,836.4 crores, up by 30.2% over the
corresponding nine months ended December 31, 2011.
Ø Capital Adequacy:
Ø
The Bank’s total
Capital Adequacy Ratio (CAR) as at December 31, 2012, (computed as per Basel II guidelines)
stood at 17.0% as against the regulatory minimum of 9.0%. Tier -I CAR was 10.9%
as of December 31, 2012.
Ø
Network : As of December
31, 2012 , the Bank’s distribution network was at 2,776 branches and 10,490 ATMs
in 1,568 cities as against 2,201 branches and 7,110 ATMs in 1,174cities as of December
31, 2011.
Ø
Asset Quality : Gross non-performing assets were at 1.0% of gross advances , and net non-performing assets at 0.2% of net advances as on December 31, 2012.
Ø
The Bank’s provisioning policies for specific loan
loss provisions remained higher than regulatory requirements. The NPA coverage ratio based on specific provisions (not including write-offs, technical or
otherwise) was at 80% as on December 31, 2012.
Ø
Total restructured loans (including
applications received and under process for restructuring) were at 0.3% of
gross advances as of December 31, 2012.
RESULTS TABLE
|
HDFC BANK
|
31-Dec-12
|
30-Sep-12
|
%Dif QoQ
|
30-Jun-12
|
31-Mar-12
|
31-Dec-11
|
%Dif YoY
|
|
Total Income
|
1050651
|
986977
|
6.45
|
953691
|
888002
|
862264
|
21.85
|
|
Total Expenditure
|
748288
|
729846
|
2.53
|
695597
|
646681
|
624461
|
19.83
|
|
Profit before Intt,
Dep. & Taxes
|
302363
|
257131
|
17.59
|
258094
|
241321
|
237803
|
27.15
|
|
Net Profit
|
185907
|
155998
|
19.17
|
141739
|
145308
|
142966
|
30.04
|
|
Diluted EPS
|
7.8
|
6.5
|
20
|
6
|
6.1
|
6.1
|
27.87
|
|
Interest on
Advances
|
672167
|
644941
|
4.22
|
606351
|
561013
|
541749
|
24.07
|
|
Income on
Investments
|
189296
|
195277
|
-3.06
|
187868
|
172813
|
174757
|
8.32
|
|
Income on Balances
With RBI
|
6773
|
8499
|
-20.31
|
5111
|
4477
|
3459
|
95.81
|
|
Others
|
2526
|
3748
|
-32.6
|
1412
|
501
|
299
|
744.82
|
|
Interest Earned
|
870762
|
852465
|
2.15
|
800742
|
738804
|
720264
|
20.89
|
|
Other Income
|
179889
|
134512
|
33.73
|
152949
|
149198
|
142000
|
26.68
|
|
Total Income
|
1050651
|
986977
|
6.45
|
953691
|
888002
|
862264
|
21.85
|
|
Interest Expended
|
490877
|
479296
|
2.42
|
452337
|
399973
|
408665
|
20.12
|
|
Employees Cost
|
100393
|
96293
|
4.26
|
99319
|
92840
|
86742
|
15.74
|
|
Other Operating
Expenses
|
157018
|
154257
|
1.79
|
143941
|
153868
|
129054
|
21.67
|
|
Operating Expenses
|
257411
|
250550
|
2.74
|
243260
|
246708
|
215796
|
19.28
|
|
Total Expenditure
excl. provisions
|
748288
|
729846
|
2.53
|
695597
|
646681
|
624461
|
19.83
|
|
Operating Profit
|
302363
|
257131
|
17.59
|
258094
|
241321
|
237803
|
27.15
|
|
Provisions
|
30724
|
29289
|
4.9
|
48731
|
29830
|
32924
|
-6.68
|
|
Profit before tax
|
271639
|
227842
|
19.22
|
209363
|
211491
|
204879
|
32.59
|
|
Tax Expense
|
85732
|
71844
|
19.33
|
67624
|
66183
|
61913
|
38.47
|
|
Net Profit
|
185907
|
155998
|
19.17
|
141739
|
145308
|
142966
|
30.04
|
|
Face Value of Share
(Rs )
|
2
|
2
|
0
|
2
|
2
|
2
|
0
|
|
Paid-up Equity
|
47361
|
47234
|
0.27
|
47118
|
46934
|
46826
|
1.14
|
|
Capital Adequacy
Ratio
|
17
|
17
|
0
|
15.5
|
16.5
|
16.3
|
4.29
|
|
Basic EPS
|
7.9
|
6.6
|
19.7
|
6
|
6.2
|
6.1
|
29.51
|
|
Diluted EPS
|
7.8
|
6.5
|
20
|
6
|
6.1
|
6.1
|
27.87
|
|
Gross/Net NPA
|
49580
|
38686
|
28.16
|
39602
|
35233
|
39796
|
24.59
|
|
% of Gross/Net NPA
|
0.2
|
0.2
|
0
|
0.2
|
0.2
|
0.2
|
0
|
|
Return on Assets
|
0.5
|
0.4
|
25
|
0.4
|
0.5
|
0.5
|
0
|
|
Public Shareholding
(%)
|
0
|
0
|
#DIV/0!
|
59.7
|
59.6
|
0
|
* * *
E N D * * *
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