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HDFC Q3 Net revenues up by 20.7% to '9,940.7 Crore

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HDFC Q3 Net revenues up by 20.7% to '9,940.7 Crore

HDFC Bank Limited has announced the results for the quarter and nine months ended December 31, 2015. As per the results, the Bank’s total income for the quarter ended December 31, 2015 was ` 18,283.3 crore, up from ` 14,930.7 crore for the quarter ended December 31, 2014.

Net revenues increased by 20.7% to `9,940.7 crore for the quarter ended December 31, 2015 as against ` 8,234.8 crore for the corresponding quarter of the previous year. Net interest income for grew by 24.0%  to `7,068.5 crore, from ` 5,699.9 crore for the quarter ended December 31, 2014 driven by average assets growth of 28.2% and a net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) at ` 2,872.2 crore was 28.9% of the net revenues for the quarter ended December 31, 2015 and grew by 13.3% over ` 2,534.9 crore last fiscal.

Total deposits as of December 31, 2015 were ` 523,997 crore, an increase of 26.5% over December 31, 2014. CASA deposits saw healthy growth with current account deposits growing by 29.7% over the previous year to reach ` 74,044 crore and savings account deposits growing by 20.6% over the previous year to reach ` 135,432 crore.

As of December 31, 2015, the Bank’s distribution network was at 4,281 branches and 11,843 ATMs across 2,505 cities / towns as against 3,659 branches and 11,633 ATMs across 2,287 cities / towns as of December 31, 2014.

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