HDFC Bank Q1 net up 31%

HDFC Bank has registered a 31% increase in its net profit at Rs 183.53 crore for the first quarter ended June 30, 2005 as compared to Rs 139.97 crore in Q1FY05. Total income has increased to Rs 1157.68 crore for the quarter ended June 30, 2005 from Rs 810.59 crore in Q1FY05.

According to a HDFC Bank release issued to the BSE, the bank, till the current financial year so far, has expanded branch network to 495 outlets in 217 cities from 330 outlets in 169 cities in June 2004. The bank's debit card issuance has crossed 3.1 million as of June 2005 while credit cards issued touched the 1.5 million mark.

As of June 30, 2005, the bank's net non-performing assets remained healthy at 0.2% of customer assets and 0.3% of advances. Capital Adequacy Ratio (CAR) was 11.9% against the regulatory minimum of 9% while Tier I CAR was at 9.5%, the release said.