HDFC Bank reports 18.3 percent revenue growth in year 2022 last quarter

The Bank’s net revenue, grew by 18.3% to 31,487.7crore for the quarter ended December 31, 2022 from 26,627.0crore for the quarter ended December 31, 2022.Excluding net trading and mark to market income, the net revenue grew by 22.1%over the quarter ended December 31, 2021.

Net interest income

Net interest income (interest earned less interest expended) for the quarter ended December 31, 2022 grew by 24.6% to 22,987.8crore from 18,443.5crore for the quarter ended December 31, 2021.Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.Operating expenses for the quarter ended December 31, 2022were 12,463.6crore, an increase of26.5% over 9,851.1crore during the corresponding quarter of the previous year. Total balance sheet size as of December 31, 2022was 2,295,305crore as against 1,938,286crore as of December 31, 2021, a growth of 18.4%.

The consolidated net profit for the quarter ended December 31, 2022 was 12,698crore, up 19.9%, over the quarter ended December 31, 2021. Consolidated advances grew by 19.2% from 1,312,142crore as on December 31, 2021 to 1,563,799crore as on December 31, 2022.The consolidated net profit for the nine months ended December 31, 2022 was  33,403crore, up 21.0%, over the nine months ended December 31, 2021.