HDFC Bank on Wednesday posted a profit of Rs 16,735.50 crore for the third quarter of FY25, recording a growth of 2.22 per cent in comparison to Rs 16,372.54 crore reported during the same quarter of FY24, surpassing estimates. It posted total income during the quarter in review at Rs 87,460.44 crore, up 7.02 per cent as against Rs 81,719.65 crore recorded during the third quarter of FY24. The banking major recorded Net Interest Income at Rs 30,653 crore. On a consolidated basis, HDFC Bank reported Q3 profit at Rs 17,656.61 crore.
According to a CNBC TV18 poll, HDFC Bank was expected to post Q3 profit at Rs 16,548 crore and NII is estimated at Rs 30,669 crore.
HDFC Bank’s asset quality
HDFC Bank recorded gross NPA at 1.42 per cent in comparison to 1.26 per cent during the third quarter of FY24. Net NPA, meanwhile, came in at 0.46 per cent from 0.31 per dent during Q3FY24.
HDFC Bank’s balance sheet
HDFC Bank’s total balance sheet size as of December 31, 2024 stood at Rs 3759.00 thousand crore in comparison to Rs 3492.60 thousand crore as of December 31, 2023.
The Bank’s average deposits were at Rs 2452.80 thousand crore for the December 2024 quarter, up 15.9 per cent over Rs 2117.10 thousand crore for the December 2023 quarter. The average CASA deposits came in at Rs 817.60 thousand crore for the third quarter, up 6 per cent over Rs 771.10 thousand crore during the same quarter of previous financial year. It further stated that CASA deposits grew by 4.4 per cent with savings account deposits at Rs 605.60 thousand crore and current account deposits at Rs 267.10 thousand crore.
HDFC Bank’s network presence
As of December 31, 2024, HDFC Bank’s distribution network was at 9,143 branches and 21,049 ATMs across 4,101 cities/towns. HDFC Bank said that 51 per cent of its branches are in semi-urban and rural areas. In addition, it said, the Bank has 15,196 business correspondents, which are primarily manned by Common Service Centres (CSC). The number of employees was at 2,10,219 as of December 31, 2024 as against 2,08,066 during the same time last year.
HDFC Bank’s Q3 performance across subsidiaries
HDB Financial Services Ltd (HDBFSL), in which HDFC Bank holds a 94.5 per cent stake, posted Q3 net revenue at Rs 25 billion and profit for the quarter stood at Rs 4.7 billion. The total loan book was at Rs 1021 billion as on December 31, 2024.
HDFC Life Insurance Company Ltd (HDFC Life), in which HDFC Bank holds a 50.3 per cent stake, recorded Q3 profit at Rs 4.1 billion, up 13.7 per cent YoY.
HDFC ERGO General Insurance Company Ltd (HDFC ERGO), in which HDFC Bank holds a 50.5 per cent stake, recorded Q3 profit at Rs 1.0 billion.
HDFC Asset Management Company Ltd (HDFC AMC), in which HDFC Bank holds a 52.5 per cent stake, posted average assets under management at approximately Rs 7874 crore and profit for the period stood at Rs 6.4 billion.
HDFC Securities Ltd (HSL), in which HDFC Bank holds a 94.6 per cent stake, recorded revenue at Rs 7.9 billion and profit came in at Rs 2.7 billion.