Mumbai, January 20, 2024: HDFC Bank, the biggest private sector lender in India, posted a 7.6% year-on-year (YoY) rise in Net Interest Income (NII) to ₹25,555 crore for the third quarter (Q3) of FY24. The bank saw a 2.2% YoY growth in Net Profit that stood at ₹16,735.5 crore for Q3FY24.
The bank's total income during the quarter increased 9.1% YoY to ₹43,514.8 crore with NII growing by 7.6% YoY basis points to ₹25,555 crore for Q3FY24. The non-interest income of the bank grew 10.9% YoY to reach ₹17,959.8 crore.
**Key Highlights:**
1. **Loans Growth**: HDFC Bank's domestic loans outstanding grew 13.5% YoY to ₹15.5 lakh crore, while deposits increased 13.7% YoY to ₹22.5 lakh crore as of December 31, 2023.
2.
**Asset Quality**: The bank's gross non-performing assets (NPAs) ratio stayed at 1.43%, while the net NPA ratio was 0.46% as on 31 December 2023.
3.
**Provisions**: HDFC Bank created an overall provision of ₹4,555 crore during the quarter, compared with ₹3,449 crore in the corresponding quarter last year.
4.
**Capital Adequacy**: The bank's capital adequacy ratio stood at 16.8% while risk weighted capital adequacy ratio (CRAR) was 14.8% as on 31st December,2023.
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