The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and half year ended September 30, 2022, at its meeting held in Mumbai on Saturday, October 15, 2022. The accounts have been subjected to an audit by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended September 30, 2022
The Bank’s core net revenue (excluding trading and Mark to Market losses), grew by 18.3% to ₹ 28,869.8 crore for the quarter ended September 30, 2022 from ₹ 24,409.7 crore for the quarter ended September 30, 2021.The total net revenues (net interest income plus other income) were ₹28,616.7 crore for the quarter ended September 30, 2022.
Net interest income (interest earned less interest expended) for the quarter ended September 30, 2022 grew by 18.9% to ₹21,021.2 crore from ₹ 17,684.4 crore for the quarter ended September 30, 2021. Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.
The four components of other income for the quarter ended September 30, 2022 were fees & commissions of ₹5,802.9 crore(₹4,945.9 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹947.8 crore (₹867.3 crore in the corresponding quarter of the previous year), loss on sale / revaluation of investments of ₹253.1crore (gain of₹675.5 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹1,097.9 crore (₹912.1 crore in the corresponding quarter of the previous year). Other income, excluding trading and Mark to Market losses, grew by 16.7%over the quarter ended September 30, 2021.
Operating expenses for the quarter ended September 30, 2022were ₹11,224.6crore, an increase of21.0% over ₹9,277.9crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.2%.