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HDFC Bank Limited FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2021

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP)
results for the quarter ended June 30, 2021, at its meeting held in Mumbai on Saturday, July 17, 2021. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

The Bank’s net revenues (net interest income plus other income) increased by 18.0% to ₹ 23,297.5 crore for the quarter ended June 30, 2021 from ₹ 19,740.7 crore for the quarter ended June 30, 2020. Net interest income (interest earned less interest
expended) for the quarter ended June 30, 2021 grew to ₹ 17,009.0 crore from ₹
15,665.4 crore for the quarter ended June 30, 2020, driven by advances growth of
14.4%, and a core net interest margin of 4.1%. The Bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 126%, well above the regulatory requirement.

During the quarter, the country was hit by a “second wave” of COVID-19, with a
significant surge in cases following the discovery of mutant coronavirus strains. While
there was an improvement towards the end, business activities remained curtailed for
almost two thirds of the quarter. These disruptions led to a decrease in retail loan
originations, sale of third party products, card spends and efficiency in collection efforts. The lower business volumes, coupled with higher slippages, resulted in lower revenues, as well as an enhanced level of provisioning.

Other income (non-interest revenue) at ₹ 6,288.5 crore was 27.0% of net revenues for
the quarter ended June 30, 2021 and grew by 54.3% over ₹ 4,075.3 crore in the
corresponding quarter of the previous year. The four components of other income for
the quarter ended June 30, 2021 were fees & commissions of ₹ 3,885.4 crore (₹ 2,230.7 crore in the corresponding quarter of the previous year), foreign exchange &
derivatives revenue of ₹ 1,198.7 crore (₹ 436.6 crore in the corresponding quarter of
the previous year), gain on sale / revaluation of investments of ₹ 601.0 crore (₹ 1,086.7 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹ 603.5 crore (₹ 321.3 crore in the corresponding quarter of the previous year).

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