HDFC Bank’s net profit for the July-September quarter of 2017 rose 20.1% to Rs 4,151.03 crore, from Rs 3,455.33 crore in the July-September 2016 quarter, Mint reported. The jump in net profit was mainly due to an increase in net income from interest. Net interest income rose 20.75% to Rs 9,652.07 crore year-on-year.
The bank’s gross Non-Performing Assets rose to 1.26% as compared to 1.24% in the previous quarter and 1.02% in the July-September 2016 quarter. Net Non-Performing Assets were at 0.43% in the second quarter of 2017, compared to 0.44% in the previous quarter and 0.3% in the second quarter of 2016.
HDFC’s advances for the July-September 2017 quarter grew 22.34% to Rs 6.05 lakh crore, from the July-September quarter of the previous year. Deposits increased by 16.5% to Rs 6.89 lakh crore.
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