HDFC Bank: Q3FY23 Result Update
16-01-2023

HDFC Bank Ltd
Market Cap 895,711Cr
CMP 1,606
P/B 3.3xFY23

Results

(INR Cr)

YoY Growth

Comments

Advances

1,506,809

19.5%

Robust growth across loan book

Net Interest Income

22,987

24.6%

NIM remained stable at 4.1%

Net Profit

12,259

18.5%

Provisions and contingencies reduced by 6.3% at 2,806.4 Cr

 

Check HDFC Bank 10 year X-ray here

Key Highlights –

·        Domestic retail loans grew by 21.4%, and Commercial and rural banking loans grew by 30.2%.

·        Other Income increased by 3.8% to 8,499 Cr. Operating expenses increased by 26.5% to 12.463 Cr. Cost to Income ratio at 39.6%.

·        Asset quality improved, GNPA reduced by 0.03% to 1.23% on yearly basis. While NNPA at 0.33%. Credit cost reduced to 0.74% from 0.94% in Q3FY22.

·        Deposits grew by 19.9% to 1,733,204 Cr. CASA Ratio decline by 3.1% to 44% of deposits.

Management Outlook –

·        Management guided on increasing retail deposits to 100,000 Cr.

·        Management gave outlook on opening 1500-2000 new branches, with 600 in pipeline.

·        Management expects credit demand in NBFC, PSU, telecom, infrastructure and retail loans.

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