An HDFC Bank branch. (Photo: Vijay Sartape/NDTV Profit)
2 years ago
Jul 20, 2024
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., Yes Bank Ltd. and RBL Bank Ltd. will declare their earnings for the quarter ended June on Saturday. HDFC Bank is expected to post a bottom-line print of Rs 15,652 crore for the three months through June, according to analysts' estimates compiled by Bloomberg. Kotak Mahindra is expected to post a profit of Rs 3,760 crore, while Yes Bank is expected to log a bottom-line of Rs 376.4 crore.
The first quarter is the low deposit accretion quarter for any bank, while the fourth quarter is the highest, Srinivasan Vaidyanathan, chief financial officer said.
Available liquidity in the system was negative by about Rs 50,000 crore.
Retail contributes 84% of total deposits for HDFC Bank and current account constitutes 11% of total deposits.
Have added Rs 54,000 crore current account deposits in March quarter, which was the highest in any quarter.
RBI IT embargo had an impact impact on high-yield book, said Kotak Group CFO Devang Gheewalla on reasons of squeezing NIM in Q1.
Had liquidity in start of quarter which got deployed in quarter, he said, adding that continued challenges in low-cost deposits have put pressure on cost of funds
Scope of audit finalised with RBI, said Kotak Mahindra Bank CEO Ashok Vaswani, adding that the lender has submitted some timelines to RBI about this process.
The bank is in touch with RBI about when they think we have made enough progress that embargo can be lifted, he said.
Yes Bank's net advances grew 14.7% year-on-year to Rs 2.29 lakh crore. Retail advances rose 9.4% year-on-year to Rs 1.01 lakh crore, small and medium enterprise loans were up 23.8% year-on-year to Rs 37,147 crore and corporate advances were up 13.8% year-on-year to Rs 56,328 crore.
RBL Bank reported an 18% year-on-year rise in total deposits during the June quarter to Rs 1.01 lakh crore, with CASA ratio at 32.6%. Meanwhile, net advances grew 19% on-year to Rs 86,704 crore. Of this retail advances grew by 31% YoY to Rs 53,737 crore.
Overall Capital Adequacy, including profit for the June quarter, was 15.56%.
Yes Bank Ltd.'s provisions for the quarter ended June fell 41.1% year-on-year to Rs 211.7 crore.
The private lender saw its operating expenses rise 10.1% on-year to Rs 2,557.7 crore during the period. In the previous quarter, there was an uptick in operating expenses due to the bank buying priority sector lending certificates along with an increase in variable compensation.
