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HDFC Bank Q3 net profit rises 18.1%

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All sectoral indices at the National Stock Exchange were in the red zone with Nifty metal dipping by 4 percent, pharma by 2.7 percent, PSU bank by 2.4 percent and realty by 2 percent. The bank's tireless spotlight on stores helped in the support of a solid liquidity inclusion proportion at 146 percent, well over the administrative necessity.

Complete stores as of December 2020 were Rs 12.71 lakh crore, an expansion of 19.1 percent over December 2019. While other income during the same period stood at Rs 7,443 crore.

The bank's net profit for the third quarter of FY21 rose to Rs 8,758.3 crore on a YoY basis.

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.9% as on December 31, 2020 (18.5% as on December 31, 2019) as against a regulatory requirement of 11.075%.

The data also showed an improvement of 0.81 per cent in the gross non-performing assets (NPA) at as against 1.42 per cent in the year-ago period and 1.08 per cent at the end of the preceding September quarter.

Total balance sheet size as of December 31, 2020 was Rs 1,654,228 crore as against Rs 1,395,336 crore as of December 31, 2019, a growth of 18.6%. It included specific loan loss provisions of Rs 691.2 crore (Rs 2,883.6 crore) and general and other provisions of Rs 2,722.9 crore (Rs 159.9 crore).

Through an interim order on September 3, 2020, the Supreme Court had directed that accounts which were not declared NPAs till August 31, 2020, shall not be declared as such until further orders. The restructuring under the RBI resolution framework for Covid-19 was approximately 0.5 per cent of advances, it said.

The consolidated net profit for the quarter ended December 31, 2020 was Rs 8,769 crore, up 14.5%, over the quarter ended December 31, 2019.

HDFC Bank is the first major lender to declare its results for the December quarter.

Level 1 vehicle was at 17.6 percent as of December 2020 contrasted with 17.1 percent as of December 2019, it added.

50% of our branches are in semi-urban and rural areas. The ratio would have been 1.38% without the relaxation of rules regarding the recognition for bad debt, the bank said in the filing.

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