HDFC Q4 Financials: Reported 23.8% consolidated net profit
The bank added 563 branches and 7,167 employees during the quarter and 734 branches and 21,486 employees during the year.
HDFC Q4 Financials: Reported 23.8% consolidated net profit
New Delhi: The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and year ended March 31, 2022, at its meeting held in Mumbai on Saturday, April 16, 2022. The accounts have been subjected to an audit by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended March 31, 2022 The Bank’s net revenues (net interest income plus other income) increased by 7.3% to Rs. 26,509.8 crore for the quarter ended March 31, 2022 from Rs. 24,714.1 crore for the quarter ended March 31, 2021. Net Revenues, excluding trading income, grew by 10.4% to Rs. 26,550.2 crore for the quarter ended March 31, 2022 from Rs 24,059.0 crore for the quarter ended March 31, 2021. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2022 grew by 10.2% to Rs 18,872.7 crore from Rs 17,120.2 crore for the quarter ended March 31, 2021. Advances were up 20.8%, with the growth coming across products and segments. Core net interest margin was at 4.0% on total assets, and 4.2% based on interest earning assets. We continued to add new liability relationships at a robust pace of 2.4 million during the quarter. Liquidity coverage ratio was healthy at 112%, well above the regulatory requirement.
The bank added 563 branches and 7,167 employees during the quarter and 734 branches and 21,486 employees during the year.
CAPITAL ADEQUACY:
The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.9% as on March 31, 2022 (18.8% as on March 31, 2021) as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%, and an additional requirement of 0.2% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 17.9% as of March 31, 2022 compared to 17.6% as of March 31, 2021. Common Equity Tier 1 Capital ratio was at 16.7% as of March 31, 2022. Risk-weighted Assets were at Rs 1,353,511 crore (as against Rs 1,131,144 crore as at March 31, 2021).
NETWORK
As of March 31, 2022, the Bank’s distribution network was at 6,342 branches and 18,130 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,188 cities / towns as against 5,608 branches and 16,087 ATMs / CDMs across 2,902 cities / towns as of March 31, 2021. 50% of our branches are in semi-urban and rural areas. In addition, we have 15,341 business correspondents, which are primarily manned by Common Service Centres (CSC). Number of employees were at 141,579 as of March 31, 2022 (as against 120,093 as of March 31, 2021).
CONSOLIDATED FINANCIAL RESULTS
The consolidated net profit for the quarter ended March 31, 2022 was Rs 10,443 crore, up 23.8%, over the quarter ended March 31, 2021. Consolidated advances grew by 19.9% from Rs 1,185,284 crore as on March 31, 2021 to Rs 1,420,942 crore as on March 31, 2022 The consolidated net profit for the year ended March 31, 2022 was Rs 38,053 crore, up 19.5%, over the year ended March 31, 2021.
Join PSU Connect on WhatsApp now for quick updates! Whatsapp Channel
