• HDFC Bank saw a 15% increase in revenue and more than 18% increase in net profit in the second quarter compared to last year.
  • It also continued to increase its provisions, supported by an increase in deposits.
  • HDFC Bank shows declining personal loans, declining collections and waivers, and limiting debit and credit card use.

HDFC Bank revenue increased nearly 15% in the second quarter compared to same period a year earlier to 21,868.8 crore and net profit increased 18.4% to 7,513.1 crore.

“Driven by asset growth of 21.5% and a quarterly core net interest margin of 4.1%,” the bank said in a statement.

Provisions remain above Reserve Bank of India requirements at 153% – or about 3,703.5 crore – driven by healthy growth in deposits. They increased by 20.3% between July and September, amounting to 12.29 lakh crore.

Gross NPA ratio 1.08%
Net NPA ratio 0.17%

HDFC Bank’s stock price traded up 2% on Friday, a day before its results. However, so far this year the stock has registered an overall loss of 6%.

HDFC Bank share price since JanuaryESB / BI India

COVID-19 continues to affect HDFC Bank
The impact of COVID-19 was lower this quarter, but still had an impact. “While the previous quarter largely bore the brunt of the COVID-19 pandemic, some of the sluggishness continued into the current quarter, leading to a drop in personal loan origination,” said HDFC Bank in a press release.


The use of debit and credit cards was lower, as well as the efficiency of collection efforts and the waiver of some fees – around 800 crore.

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