17 Jan 2024 , 12:51 PM
HDFC Bank, India’s largest private sector lender, reported a 33% YoY net profit growth to Rs 16,372 crore in Q3FY24.
The bank’s net interest income (NII) for the same period increased by 24% YoY, reaching Rs 28,470 crore.
Loan growth for HDFC Bank was recorded at 4% QoQ, while deposits saw a 2% growth.
The Liquidity Cover Ratio (LCR) decreased from 120% to 109.8% QoQ due to the utilization of liquid assets to support loan growth.
The loan-to-deposit ratio (LDR) rose from 108.4% to 110.5% QoQ, with the standalone HDFC Bank’s LDR at 89% in Q3FY24 compared to 85% in Q1FY24.
HDFC Bank’s asset quality improved, and its Chief Financial Officer, Srinivasan Vaidyanathan, emphasized a historical trend of positive asset quality.
In the post-earnings call, HDFC Bank’s management highlighted key aspects, including deposits, margins, distribution network, and the listing of subsidiary HDB Financial Services.
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