MUMBAI: HDFC Bank on Wednesday reported a standalone net profit of Rs 16,735 crore for the quarter ended Dec 2024, up 2.2% from Rs 16,373 crore in the year-ago period, but marginally down from the preceding quarter’s Rs 16,821 crore.
The bank’s CFO Srinivasan Vaidyanathan said that the margins were stable due to well-matched asset and liability durations. Fixed deposit preferences have influenced short-term trends but are expected to balance over time, maintaining overall margin stability.
The gross non-performing assets ratio deteriorated to 1.42% from 1.36% in the previous quarter. Retail and corporate portfolios demonstrate continued resilience, reflecting robust asset quality management.
Quarterly expenses totalled Rs 17,100 crore, maintaining a cost-to-income ratio of 40%. Annual expense growth was 7.2%, with a quarterly increase of 1.3%. Srinivasan said that the 1.9% cost-to-assets ratio was among the best in the industry.
This quarter 51 branches were added by the bank. The lender has 9.7 crore customers, adding 19 lakh this quarter alone. Asset quality remained robust, with stable GNPA and slippage levels. Unsecured loans, supported by customer education initiatives, continue to perform strongly.
Vaidyanathan said that the bank’s NBFC arm HDB’s listing process is on track, with a regulatory deadline of Sept 2025, and no immediate need for infra bonds. With a total capital ratio of 20% and a CET-1 ratio of 17.5%, the bank had sufficient growth capital, he said. The bank sold Rs 35,000 crores of loans in nine months. Mortgages grew 10% year-on-year. The bank invests 10% of expenses in technology upgradation.
