Q2 FY25 HDFC Bank Results show net profit rises 5% to 16,821 crore – HDFC Bank recorded a 5% increase in standalone net profit to Rs 16,821 crore in Q2FY25, up from Rs 15,976 crore in the same quarter the previous year.
The bank’s total deposits rose 15.06% year on year (YoY) to Rs 25,00,100 crore, with savings account deposits at Rs 6,08,100 crore, current account deposits at Rs. 2,75,400 crore, and time deposits at Rs 16,16,500 crore.
Gross advances also increased by 7.0% YoY, hitting Rs 25,19,000 crore. Total income for the quarter jumped to Rs 85,500 crore, up from Rs 78,406 crore in the same period the previous year, while interest income increased to Rs 74,017 crore from Rs 67,698 crore in Q2FY24.
Conclusion
On a consolidated basis, HDFC Bank’s net profit increased by 6% to Rs 17,826 crore, from Rs 16,811 crore in Q2FY24. Srinivasan Vaidyanathan, the bank’s chief financial officer, stated that the bank’s franchise has been enhanced by over 9,000 branches and 96 million customers, which helps to build deposits.