Other income grew 18% to Rs 2534.91 crore, which took net total income up 21% to Rs 8234.84 crore.

Other income relates to income from non-fund based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments and recoveries from accounts written off

Operating expenses increased 19% to Rs 3456.28 crore, after which OP grew 23% to Rs 4778.56 crore.

Provision and contingencies were up 44% to Rs 560.43 crore after which PBT grew 21% to Rs 4218.13 crore.

As tax expenses grew 21% to 1423.62 crore, net profit increased 20% to Rs 2794.51 crore.

Nine months results

For the nine months ended December 2014, HDFC Bank registered 17% rise in Interest income to Rs 35463.54 crore. A 13% rise in interest expenses to Rs 19081.01 crore saw net interest income (NII) grow 21% to Rs 16382.53 crore.

Other income grew 9% to Rs 5432.58 crore, which took net total income up 17% to Rs 22815.11 crore.

Operating expenses increased 14% to Rs 10132.59 crore, after which OP grew 20% to Rs 12682.52 crore.

Provision and contingencies were up 15% to Rs 1499.10 crore after which PBT grew 21% to Rs 11183.42 crore.

As tax expenses grew 21% to 3774.41 crore, net profit increased 20% to Rs 7409.01 crore.

Balance Sheet

Total deposits as of December 2014 were Rs 414,128 crore, up 18.6%.

Savings account deposits grew 18.6% to Rs 112,284 crore and current account deposits at Rs 57,105 crore grew 17.6%.

CASA mix was 40.9% as at December 2014.

Advances as of December 31, 2014 were Rs 347,088 crore, an increase of 17%.

The domestic loan growth was contributed by both retail and wholesale segments with the domestic loan mix between retail: wholesale of 51:49.

Total advances in overseas branches as of December 2014 were at 7.4% of the total advances.

Capital Adequacy

The Bank's total Capital Adequacy Ratio (CAR) as at December 2014 (computed as per Basel III guidelines) stood at 15.7% as against a regulatory requirement of 9%. Of this, Tier - I CAR was 11.97%.

Asset quality

Gross non-performing assets (NPAs) were at 0.99% of gross advances as on December 2014, as against 1.02% as on September 2014 and 1.01% as on

December 2013.

Net non-performing assets were at 0.26% of net advances as on December 2014. Total restructured loans (including applications under process for restructuring) were at 0.1% of gross advances as of December 2014 as against 0.2% as of December 2013.

QIP and ADS issuance

On February 5, 2015 the Bank made concurrent Qualified Institutions Placement (QIP) of 18,744,142 equity shares at Rs 1,067 per equity share and a public offering of 22,000,000 American Depositary Shares (ADSs), each representing three equity shares, at a price of $ 57.76 per ADS. The aggregate funds received from these issuances were Rs 9,766 crore.

Valuation

The share price trades at Rs 1072.