HDFC, the country’s largest private bank, will open more than 1300 branches in the next 3 to 5 years. Chief Financial Officer (CFO) of HDFC Bank Srinivasan Vaidyanathan gave information about this.
He said, ‘908 branches of HDFC have been opened in the last 12 months and 146 branches in the last quarter i.e. Q3FY24. By the end of the October-December quarter, the bank has a total of 8,091 branches in the country. Along with this, HDFC Bank has released the results of Q3FY24 i.e. the third quarter of the financial year 2024 today i.e. on January 16.
HDFC Bank net profit of ₹16,372 crore in Q3FY24
The bank’s net profit in the October-December quarter increased by 33.54% year-on-year to Rs 16,372 crore. The bank had made a profit of Rs 12,259 crore in Q3FY23 a year ago.
Along with this, the bank’s Net Interest Income (NII) in this quarter increased by 23.9% on an annual basis to Rs 28,470 crore, which was Rs 22,990 crore in the same quarter last year. Pre-provision operating profit increased by 24.3% to about Rs 23,650 crore.
HDFC Bank’s gross NPA increased
HDFC Bank’s gross non-performing asset ratio (GNPA) has increased to 1.26% in the December quarter, which was 1.34% in the September quarter. It was 1.23% in the same quarter last year.
Total deposits increased by 27.7% in this quarter
In this quarter i.e. Q3FY23, the total deposits of the bank have increased by 27.7% to Rs 28.47 lakh crore, which was Rs 22.29 lakh crore in the same quarter last year.
Domestic retail loans increased by 111%
The bank’s domestic retail loans have increased by 111% in the December quarter. At the same time, the commercial and rural loans of the bank have increased by 31.4% during this period. Whereas, corporate and wholesale loans have increased by 11.2%.
