Gautam Jain Profile picture
Oct 15 10 tweets 5 min read

2QFY23 Result Update

#hdfcbank #2qfy23

Standalone numbers:

Net Interest Income (#NII) at 21,021cr (up 19% YoY)
#Loan Growth 23% YoY, #Deposit Growth 19% YoY

Non-interest Inc (Inc treasury) at 7,596cr (up 3% YoY, lower growth due to less treasury income this year)
#Treasury Inc at 253cr (lower by 71% YoY, due to higher bond yield this year vs last year)

Total Operating Exps at 11,225cr (up 21% YoY)
Cost to Income Ratio at 39.2% vs 37% last year.

Operating Profit at 17, 392cr (up 10% YoY, lower growth due to lower treasury inc this yr)
Provision for Loan loss / NPA at 3,240cr (lower by 17% YoY, no covid related provision this year and better recovery)

Net Profit at 10,606cr (up by 20% YoY)
Consolidated Net Profit at 11,125cr (up by 22% YoY)

Net NPA Ratio at 0.33% vs 0.40% last year, 0.35% as on 1QFY23.
Net Interest Margin at 4.3% vs 4.3% last year. (Strong margin)

Total Capital Adequacy ratio at 18.0% and Tier 1 Capital Ratio at 17.1% (very strong)

CASA (low-cost deposit) ratio at 45.4% vs 46.8% past year and 45.8% in 1QFY23
Total Network as on 30th Sep: Branches 6499, ATM 18868, BC 15691, presence in cities 3226 (largest pvt bank by reach/network)

Total Employees: 161027 vs 129341 last year up by 24%
Subsidiaries performance:

HDFC Securities (95.8% stake held by hdfc bank) reported 191cr profit in this qtr vs 240cr last year

HDB Financial (94.9% stake held by HDFC Bank) reported 471cr profit in this qtr vs 192cr last year
HDFC Bank reported profit at CAGR of 22% in last ten years (2012-2022)

This year (FY23) also it is expected to report ~ 20-22% profit growth.

Bank is consistently delivering ROE of 16-20% for past many years.

It has one of the best #NIM, #NNPA, #CAR, #CostIncome, #ROE ratios
HDFC LTD along with its subsidiaries (HDFC AMC, HDFC LIFE, HDFC ERGO ETC) are expected to merger with HDFC Bank in current financial year. Merger ratio already announced.
HDFC Bank is the largest private sector banks of India. It has Loan book of 15.34L cr, Deposit of 16.71L cr, networth of 2.62L cr as on Sep22.

Post-merger with HDFC Ltd, HDFC Bank will become much bigger in size.
At CMP of INR 1441, HDFC Bank is trading at FY23e PE of 17x and PBV of 2.8x

No Recommendation.

If u enjoyed reading, do like/RT.

Happy Reading / Investing. @GcjFinancial

#investing #markets #sensex #nifty #banknifty

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