HDFC Bank has announced the results of the second quarter. In this quarter, the net profit of the bank has increased by 18 percent and it has increased to Rs 9096 crore. HDFC Bank, the largest private sector bank in the country, made a net profit of Rs 7,703 crore in the second quarter of the last financial year (2020-21).
NII of the bank increased by more than 12 percent
In the second quarter of the financial year 20221-22, the total income of the bank was Rs 41,436 crore, while in the second quarter of the last financial year i.e. 2020-21, its total income was Rs 38,438 crore. HDFC Bank’s Net Interest Income (NII) increased by 12.1% to 17,684.4 crores. It was Rs 15,776.4 crore in the corresponding quarter of the previous financial year. The asset quality of the bank has shown improvement on a quarter-on-quarter basis.
Stock Tips: TPG’s power for Tata Motors; This stock will go a long way now, know what will be the next target price
Bank’s NPA also decreased
The gross non-performing assets (NPA) of the bank declined to 1.35 per cent in the second quarter (September quarter) of 2021-22, as against 1.4 per cent in the June 2021 quarter. Whereas in the same quarter last year, the NPA of the bank was 1.37%. HDFC Bank has made a provisioning of Rs 1451 crore in the September 2021 quarter. Whereas this Rs 17,756 crore was kept for emergency expenses.
In December 2020, the RBI had banned HDFC Bank from issuing new credit cards. The central bank had barred HDFC Bank from issuing new credit cards due to technical glitches on its digital platform. However, in August he lifted this ban. After that, by the end of September, it had issued 4 lakh new credit cards. Due to the ban, a large part of the bank’s card market had gone to the competing banks.
Flipkart Big Diwali Sale will start from October 17, up to 80% discount on mobiles, laptops
Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.
.