How were the results announced by HDFC Bank for the Dec-21 quarter?

HFDC Bank revenues were up 8.85% yoy at Rs.43,365 crore for the Dec-21 quarter. HDFC Bank witnessed all round growth across its 3 critical lines of business viz. treasury, wholesale banking and retail banking. For these 3 businesses, the operating profits were also higher on yoy basis. HDFC Bank provision for bad assets at Rs.3,816 crore was 12% lower yoy.

Operating profits for the quarter were up 11.76% at Rs.18,034 crore as a spike in revenues combined with flat to marginally higher interest costs. For the Dec-21 quarter, the net interest income (NII) was up 13% at Rs.18,444 crore. The critical net interest margins or NIMs were largely stable at 4.1%.

HDFC Bank reported cost to income ratio for Dec-21 quarter at 37.1%. Credit costs were lower at 0.94% compared to 1.25% in the year ago quarter due to the impact of lower interest rates in the economy. The CASA deposits comprised 47.1% of the total deposits as of Dec-21 quarter and this is low cost funds.

Operating margin expanded from 40.50% in Dec-20 to 41.59% in Dec-21 quarter. Net profits were up 20.78% in the Dec-21 quarter at Rs.10,591 crore. PAT margins improved from 18.90% to 19.50% in the same period.