The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and full year ended March 31, 2019, at their meeting held in Mumbai on Saturday, April 20, 2019. The s have been subjected to an audit by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss : Quarter ended March 31, 2019
The Bank’s total income for the quarter ended March 31, 2019 at Rs. 31,204.5 crore grewby 22.1% from Rs.25,549.7 crore for the quarter ended March 31, 2018. Net revenues (net interest income plus other income) increased by 20.7% to Rs. 17,960.7 crore for the quarter ended March 31, 2019 from Rs. 14,886.3 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2019 grew by 22.8% to Rs. 13,089.5 crore, from Rs.10,657.7 crore for the quarter ended March 31, 2018, driven by average asset growth of 19.8% and a core net interest margin for the quarter of 4.4%.
Other income (non-interest revenue) at Rs.4,871.2 crore was 27.1% of the net revenuesfor the quarter ended March 31, 2019 and grew by 15.2% over Rs. 4,228.6 crore in the corresponding quarter ended March 31, 2018. The four components of other income for the quarter ended March 31, 2019 were fees & commissions of Rs.3,692.1 crore (Rs.
3,329.7 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of Rs. 403.3 crore (Rs.416.4 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of Rs.228.9 crore (loss of Rs. 22.0 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of Rs.546.9 crore (Rs.504.5 crore for the corresponding quarter of the previous year).
Operating expenses for the quarter ended March 31, 2019 were Rs. 7,117.1 crore, an increase of 17.6% over Rs.6,050.6 crore during the corresponding quarter of the previous.
Profit & Loss : Year ended March 31, 2019
For the year ended March 31, 2019, the Bank earned a total income of Rs. 116,597.9crore. Net revenues (net interest income plus other income) for the year ended March 31, 2019 were Rs. 65,869.1 crore, up by 19.1% over Rs.55,315.2 crore for the year ended March 31, 2018. The core net interest margin for the year ended March 31, 2019 was
4.3%. The core cost to income ratio for the year ended March 31, 2019 was at 39.9%, as against 41.7% for the year ended March 31, 2018. The Bank’s net profit for the year ended March 31, 2019 was Rs. 21,078.1 crore, up
20.5% over the year ended March 31, 2018.
Balance Sheet: As of March 31, 2019
Total balance sheet size as of March 31, 2019 was Rs. 1,244,541 crore as against Rs.1,063,934 crore as of March 31, 2018.Total deposits as of March 31, 2019 were Rs.923,141 crore, an increase of 17.0% over March 31, 2018. CASA deposits grew by 14.0% with savings deposits at Rs.248,700 crore and current deposits at Rs.142,498 crore. Time deposits were at Rs.531,943 crore, an increase of 19.4% over the previous year, resulting in CASA deposits comprising 42.4% of total deposits as of March 31, 2019. The Bank’s continuing focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 118%, well above the regulatory requirement.
