HDFC BANK LTD. - FINANCIAL RESULTS (INDIAN GAAP) FOR
THE QUARTER AND HALF-YEAR ENDED SEPTEMBER 30, 2009
Half- Year ended September 30, 2009
For the half-year ended September 30, 2009, the Bank earned total income of
Rs.10,136.0 crores as against Rs.8,849.5 crores in the corresponding period of
the previous year. Net revenues (net interest income plus other income) for the
six months ended September 30, 2009 were Rs.5,862.4 crores, as against
Rs.4,826.5 crores for the six months ended September 30, 2008. Net Profit for
the half-year ended September 30, 2009 was Rs.1,293.6 crores, up by 30.4%
over the corresponding six months ended September 30, 2008.
Capital Adequacy:
The Bank’s total Capital Adequacy Ratio (CAR) as at September 30, 2009
(computed as per Basel 2 guidelines) remained strong at 15.7%, as against the
regulatory minimum of 9%. Tier-I CAR was 10.9% as of September 30, 2009.
BUSINESS UPDATE:
As of September 30, 2009, the Bank’s distribution network had grown to 1,506
branches and 3,573 ATMs in 635 cities, as against 1,412 branches and 2,890
ATMs in 528 cities as of September 30, 2008.
Portfolio quality as of September 30, 2009 remained healthy, with gross nonperforming
assets (NPAs) at 1.8% of gross advances and net NPAs at 0.5% of
net advances. This is an improvement from the position as of June 30, 2009
where the gross NPAs were 2.1% of gross advances and net NPAs were 0.6%
of net advances. The Bank’s provisioning for specific loan loss provisions for
NPAs remained higher than regulatory requirements. The NPA coverage ratio
based on specific provisions was at 70% as of September 30, 2009 as compared
to 65% as of September 30, 2008.
The total NPA coverage ratio based on total
provisions (specific and general) continued to remain over 100%. Total
restructured assets, including applications received for loan restructuring which
were yet to be approved or implemented were 0.56% of the Bank’s gross
advances as of September 30, 2009. Of this amounts, categorized as standard
assets were 0.25% of the Bank’s gross advances.
Note:
Rs. = Indian Rupees
1 crore = 10 million
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(This is a press release from HDFC Bank)
