HDFC Bank reports 2.2% profit growth

HDFC Bank, India’s largest private lender, reported a 2.2% year-on-year (YoY) growth in its December quarter standalone net profit to Rs 16,736 crore, slightly below estimates. Net interest income (NII) grew by 8% YoY, in line with expectations, while the bank’s interest income rose by 7.6%. The bank’s provisions and contingencies for the quarter were also highlighted, though specific figures were not immediately available. HDFC Bank’s balance sheet continues to expand with increased deposits and advances, reflecting the bank’s broadening network and customer reach.

HDFC Bank sees modest profit rise

Asset quality remained robust, indicating effective management of non-performing assets. The bank has invested heavily in digital infrastructure and customer service, further securing its position as a market leader. As market dynamics continue to evolve, HDFC Bank remains focused on sustaining growth and enhancing shareholder value. The bank’s forward-looking strategies aim to navigate economic challenges while capitalizing on emerging opportunities in the financial sector. For more detailed insights and the latest updates, stay tuned to financial news platforms.