{"id":7177,"date":"2020-07-18T15:22:24","date_gmt":"2020-07-18T15:22:24","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=7177"},"modified":"2020-07-18T15:22:24","modified_gmt":"2020-07-18T15:22:24","slug":"hdfc-banks-profit-up-20-in-q1-advances-deposits-shoot-up-while-asset-quality-improves","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=7177","title":{"rendered":"HDFC Bank&#8217;s profit up 20% in Q1; advances, deposits shoot up while asset quality improves"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2014727 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc1.jpg\" alt=\"HDFC Bank, COVID-19 Challenges, HDFC Bank shown strong growth amid coronavirus crisis, HDFC loan book stronger, HDFC deposit growth, CASA, HDFC Bank performance better, buy HDFC Bank stocks, HDFC Bank becomes brokerage favorite stock\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2014727 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc1.jpg\" alt=\"HDFC Bank, COVID-19 Challenges, HDFC Bank shown strong growth amid coronavirus crisis, HDFC loan book stronger, HDFC deposit growth, CASA, HDFC Bank performance better, buy HDFC Bank stocks, HDFC Bank becomes brokerage favorite stock\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2014727 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc1.jpg\" alt=\"HDFC Bank, COVID-19 Challenges, HDFC Bank shown strong growth amid coronavirus crisis, HDFC loan book stronger, HDFC deposit growth, CASA, HDFC Bank performance better, buy HDFC Bank stocks, HDFC Bank becomes brokerage favorite stock\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/hdfc1.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/hdfc1-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">The asset quality of the bank diminished with gross NPA standing at 1.36 per cent of gross advances as on June 30, 2020 vis-\u00e0-vis 1.40 per cent as on June 30, 2019.<\/span><\/figure>\n<\/div>\n<p>Private sector lender <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/hdfc-bank-ltd-stock-price\/\" rel=\"noopener noreferrer\">HDFC Bank<\/a> on Saturday reported a 19.6 per cent growth in net profit to Rs 6,658.62 crore from Rs 5,568.16 crore in Q1 FY20. Its net interest income (difference between interest earned and interest paid to depositors) increased 17.8 per cent for the first quarter of the financial year to Rs 15,665.4 crore from Rs 13,294.3 crore for the same period last financial year on the back of growth in advances of 20.9 per cent to Rs 10,03,299 crore and deposits of 24.6 per cent to Rs 11,89,387 crore.<\/p>\n<p>The asset quality of the bank improved slightly with gross non-performing assets (NPA) standing at 1.36 per cent of gross advances as on June 30, 2020 vis-\u00e0-vis 1.40 per cent as on June 30, 2019 even as it was 1.26 per cent as on March 31, 2020. Net NPAs were at 0.33% of net advances as on June 30, 2020.<\/p>\n<div class=\"news\">\n<p>Related News<\/p>\n<ul>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/hdfc-bank-share-price-gains-over-3-as-advances-grow-21-this-brokerage-firm-sees-16-upside-in-stock\/2014389\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-730-300x200.jpg?w=120\" alt=\"HDFC Bank, HDFC funds, HDFC share\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-730-300x200.jpg?w=120\" alt=\"HDFC Bank, HDFC funds, HDFC share\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/1-730-300x200.jpg?w=120\" alt=\"HDFC Bank, HDFC funds, HDFC share\"\/><\/noscript><\/noscript><\/figure>\n<p>HDFC Bank share price gains over 3% as advances grow 21%; this brokerage firm sees 16% upside in\u00a0stock<\/a><\/li>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/vodafone-idea-axis-bank-hdfc-bank-irctc-tata-steel-ongc-midhani-aviation-stocks-stocks-in-focus-rites-icra-ircon-rajesh-exports-aditya-birla-fashion-and-retail\/2008335\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/stockm600-1-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/stockm600-1-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/stockm600-1-300x200.jpg?w=120\" alt=\"\"\/><\/noscript><\/noscript><\/figure>\n<p>Stocks in focus: Vodafone Idea, Axis Bank, HDFC Bank, IRCTC, Tata Steel, ONGC, Midhani, aviation\u00a0stocks<\/a><\/li>\n<li><a class=\"click-event\" id=\"Related_widget\" href=\"https:\/\/www.financialexpress.com\/market\/yes-bank-hdfc-bank-ashok-leyland-idbi-bank-gic-re-bank-of-india-apollo-hospitals-stocks-in-focus-container-corporation-of-india-endurance-technologies-hindustan-aeronautics\/2003222\/\"><br \/>\n<figure><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/gloabl-markets-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" class=\"lazy lazy-hidden\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/gloabl-markets-300x200.jpg?w=120\" alt=\"\"\/><noscript><img decoding=\"async\" src=\"https:\/\/images.financialexpress.com\/2020\/06\/gloabl-markets-300x200.jpg?w=120\" alt=\"\"\/><\/noscript><\/noscript><\/figure>\n<p>Stocks in focus: Yes Bank, HDFC Bank, Ashok Leyland, IDBI Bank, GIC Re stocks to remain in\u00a0news<\/a><\/li>\n<\/ul>\n<\/div>\n<p>The other income also declined to Rs 4,075.3 crore (20.6 per cent of the net revenues) for Q1 from Rs 4,970.3 crore in the same quarter last year. Components in other income including fees &amp; commissions fell Rs 2,230.7 crore from Rs 3,551.6 crore in Q1 last year, foreign exchange and derivatives stood at Rs 436.6 crore down from Rs 576.7 crore for the corresponding quarter last year, gain on sale \/ revaluation of investments was Rs 1,086.7 crore while miscellaneous income, including recoveries and dividend was Rs 321.3 crore in comparison to Rs 630.0 crore in Q1 last year.<\/p>\n<p><strong><a href=\"https:\/\/www.financialexpress.com\/industry\/xiaomi-vivo-samsung-retain-top-spots-even-as-smartphone-market-shrinks-nearly-50-in-q2-2020\/2028000\/\">Also read:\u00a0Xiaomi, Vivo, Samsung retain top spots even as smartphone market shrinks nearly 50% in Q2\u00a02020<\/a><\/strong><\/p>\n<p>\u201cThe continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products, use of credit and debit cards by customers, efficiency in collection efforts and waivers of certain fees. As a result, fees\/other income were lower by approximately Rs 2,000 crore,\u201d HDFC Bank said.\u00a0The lender had 5,326 branches and 14,996 ATMs\/cash deposit and withdrawal machines (CDMs) in 2,825 cities as of June 30, 2020, against 4,990 branches and 13,727 ATMs\/CDMs across 2,764 cities and towns as of June 30, 2019.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/hdfc-bank-19-6-per-cent-growth-in-net-profit-to-rs-6658-62-crore-from-rs-5568-16-crore-in-q1-fy20\/2028024\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset quality of the bank diminished with gross NPA standing at 1.36 per cent of gross advances as on June 30, 2020 vis-\u00e0-vis 1.40 per cent as on June 30, 2019. Private sector lender HDFC Bank on Saturday reported a 19.6 per cent growth in net profit to Rs [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7178,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-7177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/07\/hdfc1.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/7177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7177"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/7177\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/7178"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}