KIFS Result update of HDFC Bank Q1 FY12

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KIFS Result update of HDFC Bank Q1 FY12.

OVERVIEW

HDFC Bank is one of India’s premier private sector bank with a customer base of 21.9 million. With 2111 online real time branches and 5998 ATM’s in over 996 cities, HDFC bank derives its major revenues from the customer segment. However the bank is equally positioned to grow in both retail and wholesale segment. HDFC bank has 70% branches located outside the top 9 cities. With core CASA ratio above 50% and Average Saving Balance per account at Rs 50000, HDFC bank believes in quality growth rather than mere numbers. The bank has amongst the lowest Cost of Deposits (4.3% FY11) and highest Net Interest Margins (4.25% FY11). 

Key highlights:

· Total income grew by 32% Y-o-Y to Rs. 7098 cr. v/s Rs. 5360 cr in June-10

· Operating Profit grew by 16% Y-o-Y to Rs. 2033 cr.  v/s Rs. 1749 cr in June-10

· Net profit grew by 34% Y-o-Y to Rs. 1085 cr.  v/s Rs. 812 cr in June-10

· Gross NPA’s fell by 17 bps Y-o-Y to 1.04%  v/s 1.21% in June-10

· Net NPA’s fell by 10 bps Y-o-Y to 0.2%  v/s 0.3% in June-10