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Saturday , January 19, 2013
HDFC Bank Q3 net up 30% on higher lending, interest income
Publication: The Hindu Business Line , Agency:Bureau Edition:Pune/Delhi/Hyderabad/Mumbai/Kolkata , Page No: 6, Location: TopCenter , Size(sq.cms): 308
HDFC Bank Q3 net up 30% on higher lending, interest income
Expect retail loans to outpace wholesale portfolio for next couple of quarters: EDOur Bureau
Mumbai,Jan.l8Higher loan growth and in
terest income helped HDFC Bank report a 30 per cent increase in net profit at Rs 1,859 crorc in the third quarter ended December 31,2012. The second largest private
sector lender had posted a net profit of Rs 1,430 crore in the yearago period. Net interest income (differ
ence between interest earned and interest expended) grew by 22 per cent to Rs 3,799 crorc as compared with Rs 3,116 crorc in Q3 FY12. 'Other income' during the quarter rose by 27 per cent to Rs 1,799 crore (from Rs 1,420 c r o r e i n Q 3 F Y 1 2 ) predominantly due to fees and commissions. N e t a d v a n c e s a s o n
December 31, 2012, stood at Rs 2.41lakh crore, a yearonyear (y
i n t h e J u n eSeptember quarter. Total restructured loans
stood at Rs 685 crore as on December 31,2012. It stood at 0.28 per cent,
against 0.37 per cent in the yearago quarter. Shares of HDFC Bank end
ed lower at Rs 659 per share o n t h e B o m b a y S t o c k Exchange, down 1.18 per cent over the previous close. [email protected]
deposits grew by 22 per cent to Rs 2.84lakh crore. "We expect the retail book
to outpace the wholesale portfolio for the next couple of quarters," said Paresh Sukthankar, Executive Director, HDFC Bank. Net interest margin in the
quarter remained stable at 4.1
per cent compared with the corresponding quarter last year, while it declined from 4 . 2 p e r c e n t i n t h e previous quarter. Provisions during the quar
ter were lower at Rs 307 crore against Rs 329 crore in the yearago period. Sequentially, it increased from Rs 292 crore
Paresh Sukthankar,Executive Director, HDFC Bank.
oy) increase of 24 per cent. The proportion of retail loans and wholesale loans in total loans was at 53 per cent and 47 per cent, respectively. Total