HDFC Bank Limited
 |
| DEEPAK PAREKH CHAIRMAN |
 |
| ADITYA PURI MD |
FINANCIAL
RESULTS
SECOND
QUARTER
SEPTEMBER
30,2014
HDFC
Bank has declared the financial results for the second quarter ended September30,
2014.
FINANCIAL RESULTS
Total
income for Q2 FY 15 was Rs.13,894.7 crore ,as against Rs.11,937.7 crore for Q2
FY 14.
Net
revenues (net interest income plus other income) were at Rs.7,558.1 crore , an
increase of 19.6% for Q2 FY 15 over Rs.6,320.9 crore for Q2 FY 14.
Interest
earned increased from Rs.10,093.3 crore in Q2 FY 14 to Rs.11,847.6 crore in Q2 FY 15 , up by 17.4%.
With
interest expense increasing by 12.8% to Rs.6,336.6 crore for Q2 FY 15, the net interest
income (interest earned less interest expended) grew by 23.1% to Rs.5,511.0 crore
from Rs.4,476.5 crore for Q2 FY 14.
Net
interest margin for Q2 FY 15 was at 4.5% as against 4.3% for Q2 FY 14.
Other
income (non-interest revenue) at Rs.2,047.1 crore was 27.1% of the net revenues
for Q2 FY 15 and grew by 11.0% over Rs.1,844.4 crore in Q2 FY 14.
The
four components of other income for Q2 FY 15 were fees & commissions of Rs.1,536.5
crore (Rs.1,354.4 crore in Q2 FY 14), foreign exchange & derivatives
revenue of Rs.221.7 crore (Rs.501.4 crore for Q2 FY 14) , profit on revaluation
/ sale of investments of Rs.95.1 crore (loss of Rs.173.3 crore for Q2 FY 14) and
miscellaneous income including recoveries of Rs.193.8 crore (Rs.161.9 crore for
Q2 FY 14).
Operating
expenses for Q2 FY 15 were Rs.3,497.9 crore, an increase of 19.2% over Rs.2,934.2
crore during Q2 FY 14.
The
cost-to-income ratio for Q2 FY 15 was at 46.3% as against 46.4% for Q2 FY 14.
Provisions
and contingencies were Rs.455.9 crore (consisting of specific loan loss and general
provisions) for Q2 FY 15 as against Rs.385.9
crore for Q2 FY 14.
After
providing Rs.1,222.8 Crore for taxation , the Bank earned a net profit of Rs.2,381.5 Crore for Q2 FY 15, an increase of 20.1%
over Q2 FY 14.
Balance Sheet
Advances
as of September 30, 2014 were Rs.327,273 crore , an increase of 21.8% over September30,
2013.
This
loan growth was contributed by both segments of the Bank’s loan portfolio, with
domestic retail loans and wholesale loans as per the Bank’s internal business classification
growing by 17.3% and 21.8% respectively (as per regulatory[Basel 2] segment classification
growing by 9.8% and 30.1% respectively).
Retail
loan disbursal for the first half of the fiscal grew by 22% over the
corresponding period of the previous fiscal.
Total
deposits as of September 30, 2014 were Rs.390,682 crore, an increase of 24.8% over September
30, 2013.
Savings
account deposits grew 18.8% over the previous year to reach Rs.110,810 crore and
current account deposits at Rs.57,803 grew 21.4% over the previous year.
CASA
mix was 43.2% as at September 30, 2014.
Capital
Adequacy:
The
Bank’s total Capital Adequacy Ratio (CAR) as at September 30, 2014 (computed as
per Basel III guidelines) stood at 15.7% as against a regulatory requirement of
9%. Of this, Tier -I CAR was 11.8%.
NETWORK
As
of September 30, 2014 , the Bank’s distribution network was at 3,600 branches and
11,515 ATMs in 2,272 cities / towns, an increase of 349 branches and 338 ATMs
over 3,251 branches and 11,177 ATMs in 2,022 cities / towns as of September 30,
2013 and an increase of 197 branches and 259 ATMs during this fiscal year so
far.
Number
of employees increased from 69,662 as of September 30, 2013 to 75,339 as of September
30,2014.
ASSET
QUALITY
Gross
non-performing assets (NPAs) were at 1.02% of gross advances as on September 30,2014,
as against 1.09% as on September 30,2013 and 1.07% as on June 30, 2014. Net non-performing
assets were at 0.28% of net advances as on September 30,2014.
Total
restructured loans (including applications received and under process for
restructuring) were at 0.1% of gross advances as of September 30, 2014 as against
0.2% as of September 30, 2013.
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