HDFC Bank Limited announced Q2 results for the quarter and half year ended September 30, 2023, on 16th October 2023. The Bank earned a net profit of ₹ 15,976 crore, an increase of 50.6% over the quarter ended September 30, 2022 after providing ₹ 3,814 crore for taxation. Profit before tax (PBT) for the quarter ended September 30, 2023 was at ₹ 19,790 crore. The consolidated profit after tax for the quarter ended September 30, 2023 was ₹ 16,811 crore, up 51.1%, over the quarter ended September 30, 2022. Total balance sheet size as of September 30, 2023 was ₹ 34,16,310 crore as against ₹ 22,27,893 crore as of September 30, 2022.
Total Deposits showed a healthy growth of approximately ₹ 1.1 lac crore during the quarter post-merger, and were at ₹ 21,72,858 crore as of September 30, 2023, an increase of 29.8% over September 30, 2022. CASA deposits grew by 7.6% with savings account deposits at ₹ 5,69,956 crore and current account deposits at ₹ 2,47,749 crore. The Bank’s net revenue grew by 33.1% to ₹ 38,093 crore for the quarter ended September 30, 2023 from ₹ 28,617 crore for the quarter ended September 30, 2022. Net interest income (interest earned less interest expended) for the quarter ended September 30, 2023 grew by 30.3% to ₹ 27,385 crore from ₹ 21,021 crore for the quarter ended September 30, 2022Net non-performing assets were at 0.35% of net advances as on September 30, 2023.
As of September 30, 2023, the Bank’s distribution network was at 7,945 branches and 20,596 ATMs across 3,836 cities / towns as against 6,499 branches and 18,868 ATMs across 3,226 cities / towns as of September 30, 2022. 52% of our branches are in semi-urban and rural areas. For the half year ended September 30, 2023, the Bank earned a total income of ₹ 1,36,223 crore as against ₹ 87,742 crore in the corresponding period of the previous year. Profit after tax for the half year ended September 30, 2023 was ₹ 27,928 crore, up by 41.0% over the corresponding half year ended
