Imf-world bank, Bank

Private sector lender HDFC Bank on Saturday said its consolidated net profit surged by 22.3 per cent to Rs 11,125 crore for the July-September quarter of the current financial year led by strong growth in loan.The bank's consolidated advances grew by 22.8 per cent from Rs 1,249,331 crore as on September 30, 2021, to Rs 1,533,945 crore as on September 30, 2022.HDFC Bank's consolidated net profit for the half year ended September 30, 2022 was Rs 20,704 crore, up 21.7 per cent, over the half year ended September 30, 2021.On a standalone basis, HDFC Bank's profit before tax (PBT) for the quarter ended September 30, 2022 stood at Rs 14,152.0 crore. After providing Rs 3,546.3 crore for taxation, the Bank earned a net profit of Rs 10,605.8 crore, an increase of 20.1 per cent over the quarter ended September 30, 2021, according to data released by HDFC Bank after its board meeting on Saturday.The Board of Directors of HDFC Bank Limited approved the Bank's (Indian GAAP) results for the quarter and half year ended September 30, 2022, at its meeting held in Mumbai on Saturday.The Bank's core net revenue (excluding trading and Mark to Market losses), grew by 18.3 per cent to Rs 28,869.8 crore for the quarter ended September 30, 2022 from Rs 24,409.7 crore for the quarter ended September 30, 2021.The total net revenues (net interest income plus other income) were Rs 28,616.7 crore for the quarter ended September 30, 2022.Net interest income (interest earned less interest expended) for the quarter ended September 30, 2022 grew by 18.9 per cent to Rs 21,021.2 crore from Rs 17,684.4 crore for the quarter ended September 30, 2021. Core net interest margin was at 4.1 per cent on total assets, and 4.3 per cent based on interest earning assets.The four components of other income for the quarter ended September 30, 2022 were fees & commissions of Rs 5,802.9 crore (Rs 4,945.9 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of Rs 947.8 crore (Rs 867.3 crore in the corresponding quarter of the previous year), loss on sale/revaluation of investments of Rs 253.1 crore (gain of Rs 675.5 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of Rs 1,097.9 crore (Rs 912.1 crore in the corresponding quarter of the previous year).Other income, excluding trading and Mark to Market losses, grew by 16.7 per cent over the quarter ended September 30, 2021.Operating expenses for the quarter ended September 30, 2022 were Rs 11,224.6 crore, an increase of 21.0 per cent over Rs 9,277.9 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.2 per cent.For the half year ended September 30, 2022, the Bank earned a total income of Rs 87,742.2 crore as against Rs 75,525.6 crore in the corresponding period of the previous year.Net revenues (net interest income plus other income) for the half year ended September 30, 2022 were Rs 54,486.4 crore, as against Rs 48,382.6 crore for the half year ended September 30, 2021. Net profit for the half year ended September 30, 2022 was Rs 19,801.8 crore, up by 19.5 per cent over the corresponding half year ended September 30, 2021.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Imf-World BankFOLLOW

Imf-world bank, Latest News

Berlin, Oct 25 German Chancellor Olaf Scholz has vowed to provide wide-ranging assistance in rebuilding Ukraine, including aid ... ...

Afghanistan's economy contracted by about 20 per cent in 2021, according to the World Bank's (WB) new Afghanistan Development ... ...

Kotak Mahindra Bank has posted an increase of 27 per cent growth in its profit after tax to Rs 2,581 crore for the quarter ended September 30, against Rs 2,071 crore in the corresponding period in the previous year. ...

The Jammu and Kashmir Bank on Friday posted a 119 per cent growth in its net profit to Rs 243.49 crore for the quarter ended September 30 against Rs 111.09 crore in the year-ago period. ...

Islamabad, Oct 18 The World Bank announced the beginning of two parallel legal processes to address Pakistans concerns ... ...

Washington, Oct 16 Finance Minister Nirmala Sitharaman has reiterated that the inflation rate, which is hovering over 7 ... ...

Union Finance Minister Nirmala Sitharaman participated in a discussion on a paper titled "Learning Losses: What to do about the Heavy Cost of COVID on Children, Youth, and Future Productivity" during Development Committee Dinner meeting of World Bank ...

Private sector lender HDFC Bank on Saturday said its consolidated net profit surged by 22.3 per cent to Rs 11,125 crore for the July-September quarter of the current financial year led by strong growth in loan. ...