HDFC Bank (US:HDB)2023-06-29 10:55Financial Performance - Net interest revenue after provision for credit losses rose from Rs. 299,208.0 million in the six-month period ended September 30, 2021, to Rs. 382,493.1 million in the same period of 2022, an increase of about 27.87%[18]. - Net income attributable to HDFC Bank Limited increased from Rs. 185,288.1 million in the six-month period ended September 30, 2021, to Rs. 222,804.1 million in the same period of 2022, reflecting a growth of approximately 20.24%[18]. - Earnings per equity share (basic) increased from Rs. 33.54 in the six-month period ended September 30, 2021, to Rs. 40.11 in the same period of 2022, representing a growth of about 19.06%[18]. - Net income before noncontrolling interest for the six-month period ended September 30, 2022, was Rs. 223,202.2 million, an increase from Rs. 185,466.1 million in the same period of 2021, representing a growth of approximately 20.3%[20]. - Total comprehensive income attributable to HDFC Bank Limited for the six-month period ended September 30, 2022, was Rs. 158,459.8 million, down from Rs. 190,469.1 million in 2021, indicating a decrease of about 16.8%[20]. - Income before income tax increased from Rs. 253,525.7 million to Rs. 299,705.9 million, marking a growth of approximately 18.2%[165]. Asset and Liability Growth - Total assets increased from Rs. 21,113,705.5 million as of March 31, 2022, to Rs. 23,030,048.3 million as of September 30, 2022, representing a growth of approximately 9.06%[16]. - Total liabilities increased from Rs. 18,604,252.1 million as of March 31, 2022, to Rs. 20,419,248.2 million as of September 30, 2022, reflecting a growth of about 9.73%[16]. - The bank's total shareholders' equity rose from Rs. 2,509,453.4 million as of March 31, 2022, to Rs. 2,610,800.1 million as of September 30, 2022, an increase of approximately 4.03%[16]. - Total deposits grew from Rs. 15,580,031.9 million as of March 31, 2022, to Rs. 16,708,632.0 million as of September 30, 2022, marking an increase of about 7.24%[16]. - The total amount of short-term borrowings increased from Rs. 554,167.6 million as of March 31, 2022, to Rs. 952,979.8 million by September 30, 2022, representing a growth of approximately 71.8%[116]. Credit Losses and Provisions - The bank reported a provision for credit losses of Rs. 46,109.0 million for the six-month period ended September 30, 2022, down from Rs. 59,599.4 million in the same period of 2021, indicating a decrease of about 22.67%[18]. - Provision for credit losses decreased to Rs. 46,109.0 million for the six-month period ended September 30, 2022, from Rs. 59,599.4 million in 2021, a reduction of about 22.6%[22]. - The allowance for credit losses increased from Rs. 372,671.8 million as of March 31, 2022, to Rs. 380,426.6 million as of September 30, 2022[92]. - The net allowance for credit losses at the end of the period was Rs. 75,906.6 million as of September 30, 2022, compared to Rs. 163,160.9 million at the beginning of the period, indicating a significant reduction[110]. Investment and Securities - AFS investments increased from Rs. 3,622,643.8 million as of March 31, 2022, to Rs. 4,239,557.0 million (US$ 52,102.2 million) as of September 30, 2022[82]. - The total fair value of AFS debt securities as of September 30, 2022, was Rs. 4,947,132.8 million, with gross unrealized losses of Rs. 122,777.9 million[81]. - The total portfolio of trading securities as of September 30, 2022, was Rs. 50,774.4 million, with gross unrealized gains of Rs. 205.9 million and losses of Rs. 109.5 million[80]. - The total amount of unrealized losses included in other comprehensive income for Level 3 assets was Rs. (2,710.9) million for the period ended September 30, 2022[186]. Retail and Wholesale Banking - Retail banking segment net interest income increased from Rs. 196,037.8 million in the six-month period ended September 30, 2021 to Rs. 273,692.5 million in the same period of 2022, representing a growth of approximately 39.5%[165]. - Wholesale banking segment net interest income rose from Rs. 148,070.8 million to Rs. 115,555.5 million, indicating a decrease of about 22%[165]. - The total performing loans across various segments reached Rs. 3,233,675.4 million, while non-performing loans totaled Rs. 342,211.2 million, reflecting the overall credit quality of the bank[101]. Shareholder Returns and Equity - Dividends paid during the period amounted to Rs. 86,217.5 million, indicating a substantial return to shareholders[28]. - The statutory reserve transfer was Rs. 2,001.5 million, in compliance with local regulations requiring 25% of profit after tax to be allocated[28]. - The bank issued 24,418,050 additional equity shares, raising Rs. 22,777.2 million through options exercised[28]. Regulatory and Compliance - The bank's cash reserve ratio must be maintained on an average basis for a two-week period as prescribed by the RBI, with penalties for non-compliance[78]. - The financial statements are expressed in Indian Rupees, with a translation into U.S. dollars for convenience at a rate of US$1.00 = Rs. 81.37[77]. - The effectiveness of the Scheme is subject to certain approvals and compliance with applicable laws, with some compliances currently pending[193].