HDFC Bank consolidated net profit up by 22.24 percent for 2014-15

Mumbai, April 23
Banking and financial services company HDFC Bank on Thursday said its consolidated net profit for the period April 2014 to March 2015 rose by 22.24 percent at Rs.10,688.89 crore against Rs.8,743 crore during April 2013 to March 2015.

For the timeframe under review, the consolidated total income of the bank rose by 18.4 percent to Rs.60,212.18 crore against Rs.50,852.52 crore in the corresponding year.

"The net interest margin remained stable at 4.4 percent. Cost to income ratio was 44.6 percent for the year ended March 31, 2015, as against 45.6 percent for the previous year," the bank said in a statement.

On a standalone basis, the net profit of the bank for the time-period under review rose by 20.5 percent to Rs. 10,215.92 crore against the profit of Rs. 8,478.4 crore during April 2013 - March 2014.

As per the statement, the total deposits as of March 31, 2015 were Rs.450,796 crores, an increase of 22.7 crore over March 31, 2014.

"Savings account deposits grew 21.1 percent over the previous year to reach Rs.124,927 crores. Current account deposits grew 19.6 percent over the previous year to reach Rs.73,565 crores", the statement said.

The advances during the last fiscal year increased by 20.6 percent at Rs.365,495 crore against Rs.303,000.28 crore during 2013-2014.

"The domestic loan mix as per Basel 2 classification between retail and wholesale was 51 and 49 and advances in overseas branches as of March 31, 2015 were at 7.9 percent of the total advances," the bank said.