Total income rose by 111 per cent to Rs 652.4 crore (Rs 309.3 crore). After operating expenses and provisions, HDFC Bank reported a 76 per cent increase in profit before tax at Rs 142.7 crore (Rs 80.8 crore). The bank has provided Rs 47.2 crore for taxation (27.5 crore).

Total deposits of bank grew by 155 per cent to Rs 10,052 crore (Rs 3,948 crore). Savings account deposits increased by 190 per cent on a year-on-year basis to Rs 1,397 crore. Non-resident Indian (NRI) business grew with NRI deposits at Rs 510 crore, up by 53 per cent from March 2000.

The bank's customer assets - advances and corporate debt investments, etc, increased by 104 per cent to Rs 4,839 crore (Rs 2,370 crore). The capital adequacy ratio stood at 11.1 per cent against the regulatory minimum of 9 per cent.

Said the bank in a press release: "The figures for the current financial year are, however, not strictly comparable with those of the previous year due to the merger of Times Bank with HDFC Bank effective February 2000," noting further: "During the first half of the current financial year, the bank achieved a strong growth in each of its key business franchises, driven by an expanded product range, enhanced customer acquisition, geographic expansion and higher levels of penetration".

The total number of retail accounts increased from 825,000 in March 31, 2000 to over a million. Customer are serviced through a branch network of 125 branches (111 in March 2000) and alternative channels like ATMs, phone banking, Net banking and mobile banking. The bank claimed that it remained a market leader in debit-cards in India. On the treasury front, foreign exchange revenues increased by 102 per cent to Rs 18 crore. The debt securities business experienced a downturn with profit on sale of investments for the first half of the year at Rs 0.87 crore as against Rs 6.8 crore in the previous fiscal. The bank's custodial and depository accounts grew to over 400,000 from 300,000.