HDFC Bank Q4FY22 Results: Consolidated profit surges nearly 24% YoY to Rs 10,433 cr, asset quality improves

India’s largest private lender HDFC Bank reported robust earnings in the fourth quarter of the financial year 2021-22 on Saturday. The bank’s March-end quarter consolidated profit surged around 24 per cent year-on-year, while its asset quality improved, it said in filing to exchanges.

HDFC Bank’s consolidated net profit for the quarter ended March 31, 2022, was at Rs 10,433 crore as against Rs 8,433 crore in the same quarter in the previous fiscal, while Net Interest Income (NII) grew by over 10 per cent to Rs 18872 crore from Rs 17120 crore YoY, as per the bank’s filing.

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The Advances of HDFC bank grew almost 21 per cent, with the growth coming across products and segments, while core net interest margin stood at 4 per cent on total assets, and 4.2 per cent based on interest-earning assets, the filing also said.

“We continued to add new liability relationships at a robust pace of 2.4 million during the quarter. The liquidity coverage ratio was healthy at 112 per cent, well above the regulatory requirement,” the largest private lender said in a statement.

On asset quality front, the bank’s gross non-performing assets (GNPA) came at 1.17 per cent of gross advances, as against 1.26 per cent sequentially, the filing mentioned. Net non-performing assets (NNPA) were at 0.32 per cent of net advances as of March 31, 2022, it added.

The bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.9 per cent as of March 31, 2022, and it held floating provisions of Rs 1,451 crore and contingent provisions of Rs 9,685 crore as of March 31, 2022, the private lender also said in its filing.

The total balance sheet size of the bank grew by 18.4 per cent YoY to Rs 2,068,535 crore as against Rs 1,746,871 crore in a year-ago quarter, according to its filing.

HDFC Bank has added 563 branches and 7,167 employees during the quarter and 734 branches and 21,486 employees during the year.