HDFC Bank net profit rises 5% to 16,821 crore for Q2 FY25

MUMBAI: HDFC Bank reported a 5% rise in standalone net profit to Rs 16,821 crore for Q2FY25, up from Rs 15,976 crore in the corresponding quarter last year. The bank’s total deposits increased by 15.06% year-on-year (YoY) to Rs 25,00,100 crore, with savings account deposits at Rs 6,08,100 crore, current account deposits at Rs. 2,75,400 crore, and time deposits at Rs 16,16,500 crore.
Gross advances also saw a 7.0% YoY growth, reaching Rs 25,19,000 crore.Total income for the quarter climbed to Rs 85,500 crore, up from Rs 78,406 crore in the same period last year, while interest income rose to Rs 74,017 crore, compared to Rs 67,698 crore in Q2FY24. Net Interest Income (NII) increased by 10% to Rs 30,110 crore, up from Rs 27,390 crore a year ago. The bank’s gross non-performing assets (NPAs) increased to 1.36% at the end of Sept 2024, from 1.34% a year earlier, while net NPAs rose to 0.41%, compared to 0.35% in the same period.
On a consolidated basis, HDFC Bank’s net profit grew by 6% to Rs 17,826 crore, compared to Rs 16,811 crore in Q2FY24. The bank’s chief financial officer, Srinivasan Vaidyanathan, said the bank has strengthened its franchise with over 9,000 branches and 96 million customers, which helps build deposits. TNN