HDFC Bank Q3FY25 Financial Results Declared [Download PDF]

Hellobanker Team

January 22, 2025

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HDFC Bank, India’s largest private-sector lender, posted a net profit of ₹16,735.50 crore for the third quarter of FY25, reflecting a 2.2% year-on-year (YoY) increase. The marginal growth came amid slower core income growth and higher loan slippages in the agricultural sector.

Key Financial Metrics

Net Interest Income (NII): The bank reported a 7.7% YoY increase in NII to ₹30,650 crore.
Other Income: Remained almost unchanged at ₹11,450 crore.
Net Interest Margin (NIM): Stood at 3.43% for Q3FY25, flat compared to the same quarter last year but slightly lower than 3.5% in Q2FY25.
Provisions and Contingencies: Dropped to ₹3,150 crore from ₹4,220 crore in Q3FY24.

Asset Quality Deteriorates

HDFC Bank saw a decline in asset quality:

Gross Non-Performing Assets (GNPA): Increased to ₹36,019 crore in Q3FY25 from ₹34,251 crore in Q2FY25 and ₹31,012 crore in Q3FY24.
GNPA Ratio: Rose to 1.42%, compared to 1.36% in Q2FY25 and 1.26% a year ago. Excluding agricultural loans, the GNPA ratio remained flat at 1.19%.
Net NPA Ratio: Increased to 0.46% from 0.41% in Q2FY25 and 0.31% in Q3FY24.

The bank attributed the rise in GNPA to seasonal factors affecting agricultural loans, particularly during the December rabi-kharif crop cycle.

Advances and Deposits

Gross Advances: Totalled ₹25.4 trillion as of December 31, 2024, up 3% YoY.
- Retail Loans: Grew 10%.
- Commercial and Rural Banking Loans: Increased by 11.6%.
- Corporate and Wholesale Loans: Declined by 10.4%.
Total Deposits: Rose 15.8% YoY to ₹25.6 trillion.
- CASA Deposits: Increased by 4.4% to ₹8.65 trillion, accounting for 34% of total deposits.