HDFC Bank Q2 Results: Profit Rises 18%, Asset Quality Steady

HDFC Bank Ltd.’s quarterly profit rose as asset quality remained steady and interest income rose.

HDB Financial Sees Profit Drop

According to a press release issued by the lender, HDB Financial Services Ltd., a non-banking financial company where HDFC Bank holds 95.3% stake, total advances rose 2.3% year-on-year to Rs 57,014 crore. During the quarter, HDB Financial increased its liquidity buffers: liquidity coverage ratio now stands 214%, well above the regulatory requirement, according to the release.

HDB Financial Services reported a sharp fall in profit to Rs 29.9 crore compared to Rs 213 crore in the previous quarter. Net interest income fell 4.8% quarter-on-quarter to Rs 924.2 crore.

Financials for the year ago quarter are not available.

As on Sept. 30, the NBFC’s gross and net NPA ratios were 4.3% and 3.1%, respectively. Total capital adequacy ratio was 19.6% with Tier-I capital at 14.6%. It currently has 1,342 branches across 986 cities and towns in the country.