Profit before tax (PBT) in Q2 FY24 stood at Rs 19,430.66 crore, up 19.81% from Rs 16,217.63 crore posted in Q3 FY23.

The bank's provisions and contingencies jumped 50.25% YoY to Rs 4,216.64 crore during the quarter under review.

Net interest income (interest earned less interest expended) for the quarter ended 31 December 2023 grew by 23.9% to Rs 28,470 crore from Rs 22,990 crore for the quarter ended 31 December 2022. Core net interest margin for the quarter was 3.4% on total assets and 3.6% on interest earning assets.

On the asset quality front, the bank's gross non-performing assets (NPAs) stood at Rs 31,011.67 crore as on 31 December 2023 as against Rs 31,577.89 crore as on 30 September 2023 and Rs 18,763.90 crore as on 31 December 2022.

The ratio of gross NPAs to gross advances increased to 1.26% as on 31 December 2023 as against 1.34% as on 30 September 2023 and 1.23% as on 31 December 2022.

The ratio of net NPAs to net advances stood at 0.31% as on 31 December 2023 as against 0.35% as on 30 September 2023 and 0.33% as on 31 December 2022.

Pre-provision operating profit (PPOP) increased 24.3% YoY to Rs 23,650 crore during the quarter.

The total credit cost ratio was at 0.49%, as compared to 0.74% for the quarter ending 31 December 2022.

Total deposits were at Rs 22,14,000 crore as of 31 December 2023, an increase of 27.7% over 31 December 2022. CASA deposits grew 9.5%, comprising 37.7% of total deposits as of 31 December 2023.

Gross advances stood at Rs 24,69,300 crore as on 31 December 2023, registering a growth of 62.4% YoY. Domestic retail loans soared 111.1%, commercial and rural banking loans grew by 31.4% and corporate and other wholesale loans (excluding non-individual loans of eHDFC of approximately Rs 98,900 crore) grew by 11.2%.

The bank's total capital adequacy ratio (CAR) as per basel III guidelines was at 18.4% as on 31 December 2023 as compared to 19.4% as on 31 December 2022. Tier 1 CAR was at 16.8% and common equity tier 1 capital ratio was at 16.3% as of 31 December 2023.

HDFC Bank is private sector lender, As of 31 December 2023, the bank's distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities / towns as against 7,183 branches and 19,007 ATMs across 3,552 cities / towns as of 31 December 2022.

Shares of HDFC Bank rose 0.42% to settle at Rs 1,678.95 on the BSE.