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HDFC Bank's Q2FY22 YoY net profit up 17.6%
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SME Times News Bureau | 16 Oct, 2021
Lender HDFC Bank on Saturday reported a year-on-year rise of 17.6 per cent in its net profit for Q2FY22.
The bank's net profit increased to Rs 8,834.3 crore during the period under review over the quarter ended September 30, 2020.
Besides,
the bank's net interest income (income earned less interest expended)
rose 12.1 per cent from Rs 15,776.4 crore to Rs 17,684.4 crore for the
corresponding quarter of the previous fiscal.
The lender's net
revenues (net interest income plus other income) increased by 14.7 per
cent, from Rs 21,868.8 crore to Rs 25,085.2 crore for the quarter ended
September 30, 2020.
"Advances grew at 15.5 per cent reaching new
heights driven through relationship management, digital offering and
breadth of products. Core net interest margin was at 4.1 per cent. New
liability relationships added during the quarter were at an all time
high," HDFC Bank said in a statement.
"This continued focus on
deposits helped in the maintenance of a healthy liquidity coverage ratio
at 123 per cent, well above the regulatory requirement, which positions
the bank favourably to capitalise on the opportunities that would arise
as the economy gains momentum during the festive months."
In
addition, the bank reported Rs 3,924.7 crore worth of provisions and
contingencies, during the period under review as against Rs 3,703.5
crore for the quarter ended September 30, 2020.
"Total provisions for the current quarter included contingent provisions of approximately Rs 1,200 crore."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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