Saturday, July 13, 2024

HDFC Bank FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTERAND YEARENDED MARCH 31, 2022

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and year ended March 31, 2022, at its meeting held in Mumbai on Saturday, April 16, 2022. The accounts have been subjected to an audit by the statutory auditors of the Bank.

The Bank’s net revenues (net interest income plus other income) increased by 7.3% to ₹26,509.8 crore for the quarter ended March 31, 2022 from ₹24,714.1crore for the
quarter ended March 31, 2021.Net Revenues, excluding trading income, grew by
10.4% to ₹ 26,550.2crore for the quarter ended March 31, 2022 from ₹ 24,059.0 crore for the quarter ended March 31, 2021.

Net interest income (interest earned less interest expended) for the quarter ended March 31, 2022grew by 10.2%to ₹18,872.7crore from ₹17,120.2crore for the quarter
ended March 31, 2021. Advances were up 20.8%, with the growth coming across products and segments. Core net interest margin was at 4.0% on total assets, and 4.2% based on interest earning assets. We continued to add new liability relationships
at a robust pace of 2.4 million during the quarter. Liquidity coverage ratio was healthy at 112%, well above the regulatory requirement.

Other income (non-interest revenue) at₹7,637.1 crore was28.8% of net revenues for the quarter ended March 31, 2022as against₹7,593.9 crore in the corresponding quarter of the previous year. Other income, excluding trading income, grew by 10.6% over the quarter ended March 31, 2021. The four components of other income for the quarter ended March 31, 2022 were fees & commissions of ₹5,630.3 crore(₹5,023.3 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹892.5 crore (₹879.3 crore in the corresponding quarter of the previous year), loss on sale / revaluation of investments of ₹40.3 crore (gain of ₹655.1 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹1,154.7 crore (₹1,036.2 crore in the corresponding quarter of the previous year).

The bank added 563 branches and 7,167 employees during the quarter and 734 branches and 21,486 employees during the year. This, and other investments made
during the year, will position the bank to capitalise on the growth opportunity. Operating expenses for the quarter ended March 31, 2022were ₹10,152.8crore, an increase of10.6% over ₹9,181.3crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 38.3%.

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