HDFC Bank total income for the quarter ended 31st December, 2017 was INR 24,450.4 crore , up from INR 20,748.3 crore for the quarter ended 31st December, 2016.
The net revenue increased by 23.9% to INR 14,183.5 crore for the quarter ended 31st December, 2017.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2017 grew by 24.1% to INR 10,314.3 crore, from INR 8,309.1 crore for the quarter ended December 31, 2016, driven by average asset growth of 16.6% and a core net interest margin for the quarter of 4.3%.
Other income (non-interest revenue) at INR 3,869.2 crore was 27.3% of the net revenues for the quarter ended December 31, 2017 and grew by 23.1% over INR 3,142.7 crore in the corresponding quarter ended December 31, 2016.
Operating expenses for the quarter ended December 31, 2017 were INR 5,732.2 crore, an increase of 18.4% over INR 4,842.5 crore during the corresponding quarter of the previous year.
Total deposits as of December 31, 2017 were INR 699,026 crore, an increase of 10.1% over December 31, 2016. As of December 31, 2017 current account deposits were at INR 101,286 and savings account deposits were at INR 205,833. CASA deposits grew by 6.7% over December 31, 2016 (which had a higher base attributable to the spurt in deposits following the demonetisation exercise) and 3.9% over September 30, 2017. Time deposits were at INR 391,907 crore, an increase of 13.0% over the previous year, resulting in CASA deposits comprising 43.9% of total deposits as on December 31, 2017.
HDFC Bank is one of India’s premier banks providing a wide range of financial products and services to its 37 million customers across hundreds of Indian cities using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking. Within a relatively short span of time, the bank has emerged as a leadingplayer in retail banking, wholesale banking, and treasury operations, its three principal business segments.
The bank’s competitive strength clearly lies in the use of technology and the ability to deliver worldclass service with rapid response time. Over the last 23 years, the bank has successfully gained market share in its target customer franchises while maintaining healthy profitability and asset quality.
As of September 30, 2017, the Bank had a distribution network with 4,729 branches and 12,259 ATMs in 2,669 cities/towns.