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HDFC Bank Q3 results
HDFC Bank’s third-quarter financial outcomes reveal a 34% surge in profits, reaching Rs 16,373 crore, aligning with market predictions
Capital Adequacy Ratio (CAR) Highlights: The Bank’s total Capital Adequacy Ratio (CAR) under Basel II guidelines showed a notable decrease from 19.4% YoY to 18.4%, though still comfortably exceeding the regulatory requirement of 11.7%.
Expanded Distribution Network: As of December 31, 2023, HDFC Bank significantly expanded its reach with 8,091 branches and 20,688 ATMs across 3,872 cities/towns. This marks a substantial growth from the previous year, which reported 7,183 branches and 19,007 ATMs across 3,552 cities/towns as of December 31, 2022. Notably, 52% of the branches are strategically located in semi-urban and rural areas.
Business Correspondents and Workforce: The bank disclosed in a BSE filing that it currently engages 15,053 business correspondents, primarily managed by Common Service Centres (CSC). The workforce has also witnessed an increase, with the number of employees reaching 2,08,066 as of December 31, 2023, compared to 1,66,890 recorded on December 31, 2022.
Loan Portfolio Growth:
- Domestic Retail Loans: Displaying robust growth, domestic retail loans surged by an impressive 111.1%.
- Commercial and Rural Banking Loans: This sector experienced a substantial uptick, registering a growth of 31.4%.
- Corporate and Other Wholesale Loans: Excluding non-individual loans of eHDFC Ltd (approximately Rs 98,900 crore), the corporate and wholesale loan segment witnessed a growth of 11.2%.
- Overseas Advances: Constituting a modest 1.7% of total advances, the bank’s overseas advances showcased a stable presence in the overall loan portfolio.
These figures collectively underline HDFC Bank’s dynamic performance and strategic expansions across various operational facets.
