{"id":135022,"date":"2022-10-21T06:54:24","date_gmt":"2022-10-21T10:54:24","guid":{"rendered":"https:\/\/44.250.171.167\/?p=135022"},"modified":"2023-04-25T08:31:06","modified_gmt":"2023-04-25T12:31:06","slug":"hdfc-bank-limited-earnings-story-for-q2fy23","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/hdfc-bank-limited-earnings-story-for-q2fy23\/","title":{"rendered":"HDFC Bank Limited Earnings Story for Q2FY23"},"content":{"rendered":"\n
Financial Results:<\/strong><\/h6>\n\n\n\n

HDFC Bank Ltd.<\/a>\u2019s core net revenue grew by 18.3% for the quarter ended September 30, 2022 from the corresponding quarter a year ago. The total income grew 19% YoY relative to the corresponding quarter a year ago. <\/p>\n\n\n\n

It is evident that part of the increase in profitability stems from the reduction of Provisions & Contingencies amount. That would explain as to why the YoY growth for Operating Profit is 10% whereas the YoY growth for Profit is 22%<\/p>\n\n\n\n

HDFC Bank\u2019s Loan Mix is well diversified.<\/p>\n\n\n\n

\"\"<\/a><\/figure><\/div>\n\n\n\n

Proportion of CASA Deposit stood at 45%. Net interest income for Q2FY23 grew by 18.9% YoY. Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets. <\/p>\n\n\n\n

Key Ratios:<\/strong><\/h6>\n\n\n\n
Financial Metrics<\/strong><\/td>Q2FY23<\/strong><\/td>Q2FY22<\/strong><\/td><\/tr>
Net Interest Margin on Assets<\/strong><\/td>4.1<\/strong><\/td>4.1<\/strong><\/td><\/tr>
Net Interest Income as a % of Net Revenue<\/td>73%<\/td>70%<\/td><\/tr>
Core Cost to Net Revenue<\/td>39%<\/td>38%<\/td><\/tr>
Credit Costs as a % of PPOP<\/strong><\/td>19%<\/strong><\/td>25%<\/strong><\/td><\/tr>
Growth in Advances (YoY)<\/td>25.8%<\/td>15.5%<\/td><\/tr>
Growth in Deposits (YoY)<\/td>19%<\/td>14.4%<\/td><\/tr>
CASA Ratio<\/strong><\/td>45.4%<\/strong><\/td>46.8%<\/strong><\/td><\/tr>
Retail Mix of Deposits<\/td>83%<\/td>82%<\/td><\/tr>
Total GNPA as a ratio of Customer Assets<\/strong><\/td>1.18%<\/strong><\/td>1.28%<\/strong><\/td><\/tr>
Total Provisions as a % of Advances<\/td>2.09%<\/td>2.20%<\/td><\/tr>
Total Provisions as a % of GNPA<\/td>171%<\/td>163%<\/td><\/tr>
Specific PCR<\/strong><\/td>73%<\/strong><\/td>71%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
Capital Adequacy:<\/strong><\/h6>\n\n\n\n

The Bank\u2019s total Capital Adequacy Ratio (CAR) as per Basel III guidelines for H1FY23 was at 18.0% by Q2FY23 end whereas CAR on Q2FY22 was 20%. <\/p>\n\n\n\n

Tier 1 CAR was at 17.1% on Q2FY23 compared to 18.7% on Q2FY22. <\/p>\n\n\n\n

Asset Quality:<\/strong><\/h6>\n\n\n\n

Gross non-performing assets were at 1.23% of gross advances in Q2FY23, as against 1.35% in Q2FY22. Net non-performing assets were at 0.33% of net advances in Q2FY23. 
<\/p>\n","protected":false},"excerpt":{"rendered":"

Financial Results: HDFC Bank Ltd.\u2019s core net revenue grew by 18.3% for the quarter ended September 30, 2022 from the corresponding quarter a year ago. The total income grew 19% YoY relative to the corresponding quarter a year ago.  It is evident that part of the increase in profitability stems from the reduction of Provisions […]<\/p>\n","protected":false},"author":1885,"featured_media":135026,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[392,1,6352],"tags":[151],"class_list":["post-135022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings","category-finance-stocks","category-research-summary","tag-banking"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/iStock-91157510.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":135036,"url":"https:\/\/alphastreet.com\/india\/hdfc-life-insurance-co-ltd-q2fy23-19-growth-in-profits\/","url_meta":{"origin":135022,"position":0},"title":"HDFC Life Insurance Co. 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