India’s second largest private lender HDFC Bank reported 30% increase in net profit at Rs 1,859 for the December quarter on the back of 24% growth in loan book. The banks total income rose 22% Rs 10506 crore while net interest income (NII) was Rs 3799 crore rising 22% over the corresponding quarter last year.
Net interest margin (NIM) was at 4.1% for the quarter. The bank earned the revenue of Rs 1,402 crore in fees and commissions. Asset quality remained stable. Its gross non performing assets (NPA) was 1% while the net NPA ratio was 0.2%. Total restructured book was 0.3% of advances, bank said. Provision coverage ratio (PCR) was 80%.
Banks capital adequacy ratio (CAR) was 17% with the tier-1 capital of 10.9%.
The bank added 575 branches and 3380 ATMs to take the network to 2776 branches and 10490 ATMs. Bank also opened branches in 394 new cities during the year 2012.