Srinagar, Oct 19, KNT: HDFC Bank has announced its financial results for the quarter and half year ended September 30, 2024, reporting a 14.7% increase in consolidated net revenue to ₹760.4 billion. The bank’s consolidated profit after tax (PAT) for Q2 FY2025 stood at ₹178.3 billion, representing a 17.4% growth over the same period last year.
The bank’s standalone net revenue grew by 9.2% to ₹416.0 billion, while standalone PAT increased by 17.0% to ₹168.2 billion. Gross advances rose by 7.0% to ₹25,190 billion, and deposits increased by 15.1% to ₹25,001 billion.
As of September 30, 2024, the bank’s total balance sheet size stood at ₹36,881 billion. The Capital Adequacy Ratio (CAR) was at 19.8%, with Tier 1 CAR at 17.8% and Common Equity Tier 1 Capital ratio at 17.3%.
HDFC Bank’s distribution network expanded to 9,092 branches and 20,993 ATMs across 4,088 cities and towns, with 51% of branches located in semi-urban and rural areas. The bank’s employee base increased to 206,758.
The bank’s asset quality remained stable, with gross non-performing assets at 1.36% of gross advances and net non-performing assets at 0.41% of net advances.
HDFC Bank’s subsidiaries, including HDB Financial Services, HDFC Life Insurance, HDFC ERGO General Insurance, HDFC Asset Management, and HDFC Securities, also reported strong performances.
For the half year ended September 30, 2024, the bank earned a total income of ₹1,692 billion, up from ₹1,362 billion in the corresponding period last year. Profit after tax for the half year increased by 18.1% to ₹330 billion.
The bank’s financial performance and asset quality reflect its continued focus on delivering sustainable growth and value to its customers and stakeholders.
