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HDFC Bank Posts Profit Of Rs 5,586 Crore In December Quarter

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Net interest income climbed 21.9 per cent, while net interest margin was at 4.3 per cent for quarter.New Delhi: HDFC Bank, country's biggest lender by market value, reported a 20.31 per cent rise in third-quarter net profit on Saturday, lifted by higher interest and fee income.Net profit rose to a record 5,586 crore rupees for three months to December 31, from 4,643 crore rupees a year ago, bank said.Asset quality was stable, with gross bad loans as a percentage of total loans at 1.38 per cent by end of December, compared to 1.33 per cent in previous quarter and 1.29 per cent in same period last year.Loans have grown at a quicker pace at private-sector banks, which have grabbed market share from state-controlled lenders that carry majority of bad loans in India.HDFC Bank's total loans at end of December were 7.81 lakh crore rupees, with retail loans up 24.0 per cent.Its relatively small exposure to troubled infrastructure sector, which has forced other banks to make profit-denting provisions, has helped HDFC Bank maintain stable asset quality.Net interest income climbed 21.9 per cent, while net interest margin was at 4.3 per cent for quarter.




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