HDFC Bank net profit up 17.6% to 8,834 crore – Times of India

MUMBAI: HDFC Bank on Saturday reported a internet revenue of Rs 8,834 crore for the quarter ended September 2021, a rise of 17.6% over Rs 7,513 crore within the corresponding quarter final 12 months.
The financial institution’s income rose on the again of a 15.5% improve in loans. Advances rose to almost Rs 12 lakh crore from Rs 10.4 lakh crore as of September 2020. The non-public lender has elevated its market share by rising loans at greater than double the business development fee. In response to RBI knowledge, general bank credit score grew 6.7% year-on-year as much as September 24, 2021.
This resulted within the financial institution’s internet interest revenue rising 12.1% to Rs 17,684 crore.
Within the final 12 months, the financial institution has elevated the share of loans to the agriculture and rural sector in its portfolio. It has additionally grown loans provided on the time of digital funds.

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