NEW DELHI: HDFC Bank has reported a standalone profit of Rs 8,758.3 crore for the quarter ended December 2020, rising 18.1 percent year-on-year led by non interest income and pre-provision operating profit with improved asset quality performance. Earnings for the December quarter are the first under new chief executive officer Sashidhar Jagdishan.
In the year ago period, the private sector lender posted a net profit of Rs 7,416 crore. ts net interest income, the difference between interest earned and interest expended, grew 15.1 per cent to Rs 16,317.6 crore in Q3 FY21, compared to the corresponding period, driven by advances growth of 15.6 percent, and a core net interest margin for the quarter of 4.2 percent.
“The persistent focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 146 percent, well above the regulatory requirement,” said the bank.
The lender’s asset quality was steady in the third quarter, with gross non-performing asset ratio at 0.81 per cent as compared with 1.08 per cent as on September 30.
Net NPA ratio improved to 0.09 per cent, down eight basis points on a sequential basis. Its loan book increased by 15.6 per cent YoY.