HDFC Bank Q3 profit rises 18% to Rs 10,342 crore, net interest income grows to Rs 18,444 crore

HDFC Bank Q3 profit rises 18% to Rs 10,342 crore, net interest income grows to Rs 18,444 crore

Leading private sector lender HDFC Bank on January 15 clocked standalone net profit of Rs 10,342 crore for the December 2021 quarter, up 18 percent year-on-year backed by decline in bad loan provisions. The profit in corresponding quarter last fiscal was at Rs 8,758.29 crore. Net interest income, the difference between interest earned and interest expended, climbed 13 percent to Rs 18,444 crore in Q3FY22, with net interest margin at 4.1 percent for the quarter, and healthy credit growth of 16.4 percent. Profit and net interest income grew by 17 percent and 4.3 percent on sequential basis in Q3. HDFC Bank on January 4 had said advances for the quarter at Rs 12.6 lakh crore grew by 16.4 percent compared to year-ago period and the sequential growth was 5.1 percent. …
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