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HDFC Bank Q4 Results LIVE Updates: India's biggest private lender posts Rs 16,512 crore PAT; dividend of Rs 19.5/share announced
20 Apr, 2024 | 03:59:55 PM IST
HDFC Bank Q4 Results LIVE Updates: India's largest private sector lender HDFC Bank on Saturday reported a 37.1% year-on-year (YoY) increase in its standalone profit at Rs 16,512 crore in the March quarter. Its net interest income (NII) during the quarter grew by 24.5% to Rs 29,077 crore.
1 New Update
HDFC Bank Q4 Results LIVE Updates: Asset quality
Gross non-performing assets were at 1.24% of gross advances as on March 31, 2024, as against 1.26% as on December 31, 2023, and 1.12% as on March 31, 2023. Net non- performing assets were at 0.33% of net advances as on March 31, 2024.
HDFC Bank Q4 Results LIVE Updates: Provisions and contengencies rise
Provisions and contingencies for the quarter ended March 31, 2024, were Rs 135.1 billion (including the floating provisions of Rs 109.0 billion mentioned above). Provisions and contingencies, excluding the floating provisions, for the quarter ended March 31, 2024 were Rs 26.1 billion as against Rs 26.9 billion for the quarter ended March 31, 2023.
HDFC Bank Q4 Results LIVE Updates: HDFC Bank enhances floating provisions
The credit environment in the economy remains benign, and the Bank's credit performance across all segments continues to remain healthy. The Bank's GNPA at 1.24% has shown an improvement over the prior quarter. The Bank has considered this as an opportune stage to enhance its floating provisions, which are not specific to any portfolio, but act as a countercyclical buffer for making the balance sheet more resilient, and these also qualify as Tier 2 Capital within the regulatory limits. Therefore, the Bank has made floating provisions of Rs 109.0 billion during the quarter.
HDFC Bank Q4 Results LIVE Updates: Cost-to-income ratio at 38%
The cost-to-income ratio for the quarter was at 38.0%. Excluding certain transaction gains and the ex-gratia provision, cost to income ratio for the quarter was at 41.3%.
HDFC Bank Q4 Results LIVE Updates: Operating expenses rise 33.5%
Operating expenses for the quarter ended March 31, 2024 were Rs 179.7 billion, an increase of 33.5% over 134.6 billion during the corresponding quarter of the previous year. Operating expenses for the quarter ended March 31, 2024 included staff ex-gratia provision of Rs 15 billion.
HDFC Bank Q4 Results LIVE Updates: Revenue & NII grow sharply
The Bank's net revenue grew by 47.3% to Rs 472.4 billion (including transaction gains of Rs 73.4 billion from stake sale in subsidiary HDFC Credila Financial Services Ltd) for the quarter ended March 31, 2024 from Rs 320.8 billion for the quarter ended March 31, 2023.
Net interest income (interest earned less interest expended) for the quarter ended March 31, 2024 grew by 24.5% to Rs 290.8 billion from Rs 233.5 billion for the quarter ended March 31, 2023. Core net interest margin was at 3.44% on total assets, and 3.63% based on interest earning assets.
Net interest income (interest earned less interest expended) for the quarter ended March 31, 2024 grew by 24.5% to Rs 290.8 billion from Rs 233.5 billion for the quarter ended March 31, 2023. Core net interest margin was at 3.44% on total assets, and 3.63% based on interest earning assets.
HDFC Bank Q4 Results LIVE Updates: Bank proposed a dividend of Rs 19.5 per share
HDFC Bank Q4 Results LIVE Updates: Profit at Rs 16,512 crore
HDFC Bank Q4 Results LIVE Updates: CASA deposits & CASA ratio as of Q4
- CASA deposits totaled approximately Rs 9.09 lakh crore by March 31, 2024, marking an 8.7% increase from Rs 8.36 lakh crore on March 31, 2023, and an 8.8% rise from Rs 8.35 lakh crore on December 31, 2023.
- Retail CASA grew by around 8.8% over March 31, 2023, and 6.3% over December 31, 2023.
- The CASA ratio was approximately 38.2% by March 31, 2024, down from 44.4% a year earlier and up from 37.7% in the previous quarter.
HDFC Bank Q4 Results LIVE Updates: Deposits rise nearly 27% YoY in Q4, show business update
HDFC Bank's deposits reached approximately Rs 23.80 lakh crore by March 31, 2024, marking a significant 26.4% increase from Rs 18.83 lakh crore reported in the same period of the previous fiscal year. Quarter-on-quarter (QoQ), deposits grew by approximately 7.5%.Retail deposits experienced a year-on-year (YoY) growth of around 27.8% and a QoQ growth of about 6.9%.Wholesale deposits saw a YoY growth of approximately 19.4% and a QoQ growth of about 10.9%.
HDFC Bank Q4 Results LIVE Updates: Loan growth in Q4
- Domestic retail loans surged approximately 108.9% over March 31, 2023, and grew by around 3.7% (Rs 43,700 crore) compared to December 31, 2023.
- Commercial & rural banking loans experienced a year-on-year growth of around 24.6% in March and a quarter-on-quarter growth of about 4.2%.
- Corporate and other wholesale loans (excluding non-individual loans from the former HDFC) increased by approximately 4.1% over March 31, 2023, but were down by about 2.2% compared to December 31, 2023.
- Source: Q4 business update
HDFC Bank Q4 Results LIVE Updates: Gross advances grow 55% YoY
HDFC Bank, India's largest private lender, revealed a substantial 55.4% year-on-year (YoY) increase in its gross advances, reaching Rs 25.08 lakh crore for the quarter ending March 31, 2024. This marks a notable rise from Rs 16.14 lakh crore recorded in the same period the previous fiscal year. Sequentially, gross advances edged up by 1.6% from Rs 24.69 lakh crore as of December 31, 2023, as disclosed by the company. (Source: Q4 business update)
HDFC Bank Q4 Results LIVE Updates: Read what Kotak Instituitional Equities eyes from HDFC Bank's Q4 show
We anticipate witnessing improved momentum in deposit growth in the fourth quarter, which is traditionally robust. We are projecting a 7% increase quarter-on-quarter in deposits (year-on-year numbers are not comparable). Additionally, we are factoring in a slower pace of loan growth (3% quarter-on-quarter), which should contribute to an enhancement in the CD ratio. Net interest margin (NIM) is expected to remain flat quarter-on-quarter. Furthermore, non-interest income is set to receive a boost from the stake sale of the education finance subsidiary, Credila.
HDFC Bank Q4 Results LIVE Updates: What MOSL expects from HDFC Bank in Q4
Margins are anticipated to maintain a generally stable trend. Asset quality for the merged entity is forecasted to stay broadly stable as well. Guidance regarding business expansion and the trajectory of earnings will be significant factors to monitor closely.
HDFC Bank Q4 Results LIVE Updates: How HDFC Bank fared in December quarter
- In the December quarter, HDFC Bank delivered a commendable performance, with net profit surging by nearly 34% year-on-year to Rs 16,372.54 crore, surpassing the Rs 15,846 crore estimated by an ETNow poll.
- Net interest income (NII), reflecting the variance between interest earned and expended, climbed by 24% year-on-year to Rs 28,471.34 crore. Nevertheless, the NII figure fell short of the anticipated Rs 29,067 crore.
HDFC Bank Q4 Results LIVE Updates: HDFC Bank shares ended over 2% higher on Friday ahead of the quarterly show
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HDFC Bank Q4 Results LIVE Updates: NII could rise over 20% YoY
HDFC Bank's net interest income (NII), the difference between interest earned and interest expended, is likely to rise 22% YoY, shows the avergae estimate of four brokerages.
HDFC Bank Q4 Results LIVE Updates: HDFC Bank Q4 profit growth seen over 50% YoY
HDFC Bank's net profit is projected to surge by more than 50% year-on-year, as per the average estimates provided by five brokerages.
HDFC Bank Q4 Results LIVE Updates: HDFC Bank to post Q4 results today
Catch this space for all the LIVE updates on the lender's Q4 performance
