HDFC Bank has announced a 30.6 per cent rise in its first quarter profit at Rs. 1,417.4 crore against Rs. 1,085 crore in the same period in the previous year. The improvement came from higher income, stronger loan growth, and higher net interest margins.

Total income

According to a statement, the bank’s total income for the period was up 34 per cent at Rs. 9,537 crore (Rs 7,098 crore). The net interest income grew 22.3 per cent to Rs. 3,484 crore driven by loan growth of 21.5 per cent and net interest margin of 4.3 per cent. Other income (non-interest revenue) grew 36.6 per cent to Rs. 1,529.5 crore with the main contributor being fees and commissions which grew 24 per cent to Rs. 1,143.3 crore.

The statement said the bank’s total balance sheet size increased 25.9 per cent to Rs. 360,001 crore. Total net advances were up 21.5 per cent at Rs. 213,338 crore. Total deposits with the bank grew 22 per cent at Rs. 257,531 crore. In terms of asset quality, the ratio of net non-performing assets to net advances was at 0.2 per cent and total restructured loans, including applications received and those under processing were at 0.3 per cent of gross advances as of June 30, 2012. HDFC Bank’s capital adequacy ratio stood at 15.5 per cent as against the regulatory minimum of 9 per cent.

The bank network comprised 2,564 branches (2,111 branches), 9,709 ATMs (5,998 ATMs) in 1,416 cities (1,111 cities).

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