HDFC Bank, India’s largest private sector lender, said its fourth-quarter profit shot up 37% owing to its Credila stake sale and a growth in treasury.
What Happened: HDFC Bank reported a standalone net profit of ₹16,511.85 crore for Q4, marking a 37% increase compared with ₹12,047.5 crore a year ago. The figure beat analyst estimates of ₹15,663 crore.
The standalone net interest income (NII), a key indicator of the bank’s core profitability, stood at ₹29,080 crore, growing 24.5% from the previous year’s ₹23,351.8 crore. This was mostly in line with analyst estimates of ₹29,010 crore.
Meanwhile, the lender’s core net interest margin stood at 3.44% on total assets, and 3.63% based on interest-earning assets.
HDFC Bank's board also recommended a dividend of ₹19.5 per share compared with ₹19 per share declared last year.
On the deposit front, HDFC Bank witnessed a growth of 26.4%, with total deposits reaching ₹23.8 lakh crore.
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