The Hindu : Business : HDFC Bank Q2 net up 40 p.c.

Online edition of India's National Newspaper
Saturday, Oct 13, 2007
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HDFC Bank Q2 net up 40 p.c.

Corporate Reporter

Reports a total business of over Rs. 2,800 crore

CHENNAI: HDFC Bank has reported a total income of Rs. 2,845.10 crore in the second quarter ended September 30, 2007, against Rs. 1,975.75 crore in the same period in the previous year.

Interest earned category increased to Rs. 2,362.80 crore from Rs. 1,578 crore. Net interest income for the quarter increased by Rs. 374.70 crore to Rs. 1,162.70 crore.

This was driven by an average asset growth of 39.4 per cent and a core net interest margin (NIM) of 4 per cent against 3.8 per cent in the same period year-ago.

After providing Rs. 168.80 crore for taxation, the bank earned a net profit of Rs. 368.50 crore, an increase of 40.1 per cent over the quarter ended September 30, 2006.

Total deposits were Rs. 91,069 crore, an increase of 43.5 per cent from September 30, 2006.

In the half year ended September 30, 2007, total income was Rs. 5,486.84 crore and the net profit Rs. 689.71 crore against Rs. 3,770.96 crore and Rs. 502.24 crore respectively in the same period in the previous year.

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