info@afternoonnews.in +91 98940 - 95096

Today Date : Saturday, May 18, 2024

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

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.