Indicate by check mark whether
the registrant files or will file annual reports under cover of Form
20-F
or Form
40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule
12g3-2(b)
under the Securities Exchange Act of 1934. Yes ☐ No ☒
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule
12g3-2(b):
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
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|
HDFC BANK LIMITED
|
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|
|
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(Registrant)
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Date: 24
th
October, 2017
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By
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/s/ Sanjay Dongre
|
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Name:
|
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Sanjay Dongre
|
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Title:
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Executive Vice President (Legal) & Company Secretary
|
EXHIBIT INDEX
The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General
Instructions for Form
6-K.
Exhibit
I
Description
Communication dated 24
th
October, 2017 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about Outcome of Board Meeting held on
24
th
October, 2017.
Exhibit I
24
th
October, 2017
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir / Madam,
Re: Financial Results for the Quarter and Half Year ended 30
th
September, 2017
We attach herewith a file containing the Financial Results for the second quarter (unaudited) and half year (audited) ended on 30
th
September, 2017, segment reporting and Press Release in this regard.
The aforesaid audited financial
results have been submitted to the stock exchanges in India as per the listing requirements of those Stock Exchanges.
This is for your information and
record.
Thanking you,
Yours faithfully,
For HDFC Bank Limited
Sd/-
Sanjay Dongre
Executive Vice President (Legal) &
Company Secretary
Encl. : a/a.
HDFC BANK LIMITED
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2017
|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
₹
in lacs)
|
|
|
|
|
|
|
Quarter ended
30.09.2017
|
|
|
Quarter ended
30.06.2017
|
|
|
Quarter ended
30.09.2016
|
|
|
Half year ended
30.09.2017
|
|
|
Half year ended
30.09.2016
|
|
|
Year ended
31.03.2017
|
|
|
|
|
Particulars
|
|
Unaudited
|
|
|
Unaudited
|
|
|
Unaudited
|
|
|
Audited
|
|
|
Audited
|
|
|
Audited
|
|
|
1
|
|
Interest Earned (a)+(b)+(c)+(d)
|
|
|
1967028
|
|
|
|
1866872
|
|
|
|
1706994
|
|
|
|
3833900
|
|
|
|
3358596
|
|
|
|
6930596
|
|
|
|
|
a) Interest / discount on advances / bills
|
|
|
1535575
|
|
|
|
1448606
|
|
|
|
1290136
|
|
|
|
2984181
|
|
|
|
2537217
|
|
|
|
5205526
|
|
|
|
|
b) Income on Investments
|
|
|
400646
|
|
|
|
389297
|
|
|
|
381807
|
|
|
|
789943
|
|
|
|
762731
|
|
|
|
1594434
|
|
|
|
|
c) Interest on balances with Reserve Bank of India and other inter bank funds
|
|
|
10649
|
|
|
|
10820
|
|
|
|
13967
|
|
|
|
21469
|
|
|
|
17988
|
|
|
|
53202
|
|
|
|
|
d) Others
|
|
|
20158
|
|
|
|
18149
|
|
|
|
21084
|
|
|
|
38307
|
|
|
|
40660
|
|
|
|
77434
|
|
|
2
|
|
Other Income
|
|
|
360590
|
|
|
|
351666
|
|
|
|
290095
|
|
|
|
712256
|
|
|
|
570756
|
|
|
|
1229649
|
|
|
3
|
|
Total Income (1)+(2)
|
|
|
2327618
|
|
|
|
2218538
|
|
|
|
1997089
|
|
|
|
4546156
|
|
|
|
3929352
|
|
|
|
8160245
|
|
|
4
|
|
Interest Expended
|
|
|
991821
|
|
|
|
929798
|
|
|
|
907635
|
|
|
|
1921619
|
|
|
|
1781093
|
|
|
|
3616674
|
|
|
5
|
|
Operating Expenses (i)+(ii)
|
|
|
554005
|
|
|
|
536746
|
|
|
|
486999
|
|
|
|
1090751
|
|
|
|
963885
|
|
|
|
1970332
|
|
|
|
|
i) Employees cost
|
|
|
171577
|
|
|
|
165751
|
|
|
|
165721
|
|
|
|
337328
|
|
|
|
324238
|
|
|
|
648366
|
|
|
|
|
ii) Other operating expenses (Refer Note 9)
|
|
|
382428
|
|
|
|
370995
|
|
|
|
321278
|
|
|
|
753423
|
|
|
|
639647
|
|
|
|
1321966
|
|
|
6
|
|
Total Expenditure (4)+(5) (excluding Provisions & Contingencies)
|
|
|
1545826
|
|
|
|
1466544
|
|
|
|
1394634
|
|
|
|
3012370
|
|
|
|
2744978
|
|
|
|
5587006
|
|
|
7
|
|
Operating Profit before Provisions and Contingencies (3)-(6)
|
|
|
781792
|
|
|
|
751994
|
|
|
|
602455
|
|
|
|
1533786
|
|
|
|
1184374
|
|
|
|
2573239
|
|
|
8
|
|
Provisions (other than tax) and Contingencies
|
|
|
147619
|
|
|
|
155876
|
|
|
|
74899
|
|
|
|
303495
|
|
|
|
161572
|
|
|
|
359330
|
|
|
9
|
|
Exceptional Items
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
10
|
|
Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)
|
|
|
634173
|
|
|
|
596118
|
|
|
|
527556
|
|
|
|
1230291
|
|
|
|
1022802
|
|
|
|
2213909
|
|
|
11
|
|
Tax Expense
|
|
|
219070
|
|
|
|
206734
|
|
|
|
182023
|
|
|
|
425804
|
|
|
|
353378
|
|
|
|
758943
|
|
|
12
|
|
Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)
|
|
|
415103
|
|
|
|
389384
|
|
|
|
345533
|
|
|
|
804487
|
|
|
|
669424
|
|
|
|
1454966
|
|
|
13
|
|
Extraordinary items (net of tax expense)
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
14
|
|
Net Profit / (Loss) for the period (12)-(13)
|
|
|
415103
|
|
|
|
389384
|
|
|
|
345533
|
|
|
|
804487
|
|
|
|
669424
|
|
|
|
1454966
|
|
|
15
|
|
Paid up equity share capital (Face Value of ` 2/- each)
|
|
|
51680
|
|
|
|
51478
|
|
|
|
50913
|
|
|
|
51680
|
|
|
|
50913
|
|
|
|
51251
|
|
|
16
|
|
Reserves excluding revaluation reserves
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8894987
|
|
|
17
|
|
Analytical Ratios
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(i) Percentage of shares held by Government of India
|
|
|
Nil
|
|
|
|
Nil
|
|
|
|
Nil
|
|
|
|
Nil
|
|
|
|
Nil
|
|
|
|
Nil
|
|
|
|
|
(ii) Capital Adequacy Ratio
|
|
|
15.1
|
%
|
|
|
15.6
|
%
|
|
|
15.4
|
%
|
|
|
15.1
|
%
|
|
|
15.4
|
%
|
|
|
14.6
|
%
|
|
|
|
(iii) Earnings per share (`)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Basic EPS before & after extraordinary items (net of tax expense)—not annualized
|
|
|
16.1
|
|
|
|
15.2
|
|
|
|
13.6
|
|
|
|
31.3
|
|
|
|
26.4
|
|
|
|
57.2
|
|
|
|
|
(b) Diluted EPS before & after extraordinary items (net of tax expense)—not annualized
|
|
|
15.9
|
|
|
|
15.0
|
|
|
|
13.4
|
|
|
|
30.9
|
|
|
|
26.1
|
|
|
|
56.4
|
|
|
|
|
(iv) NPA Ratios
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Gross NPAs
|
|
|
770284
|
|
|
|
724293
|
|
|
|
506904
|
|
|
|
770284
|
|
|
|
506904
|
|
|
|
588566
|
|
|
|
|
(b) Net NPAs
|
|
|
259683
|
|
|
|
252821
|
|
|
|
148885
|
|
|
|
259683
|
|
|
|
148885
|
|
|
|
184399
|
|
|
|
|
(c) % of Gross NPAs to Gross Advances
|
|
|
1.26
|
%
|
|
|
1.24
|
%
|
|
|
1.02
|
%
|
|
|
1.26
|
%
|
|
|
1.02
|
%
|
|
|
1.05
|
%
|
|
|
|
(d) % of Net NPAs to Net Advances
|
|
|
0.43
|
%
|
|
|
0.44
|
%
|
|
|
0.30
|
%
|
|
|
0.43
|
%
|
|
|
0.30
|
%
|
|
|
0.33
|
%
|
|
|
|
(v) Return on assets (average)—not annualized
|
|
|
0.47
|
%
|
|
|
0.46
|
%
|
|
|
0.46
|
%
|
|
|
0.93
|
%
|
|
|
0.92
|
%
|
|
|
1.88
|
%
|
Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating
segments of the Bank is as under:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
₹
in lacs)
|
|
|
|
|
Particulars
|
|
Quarter ended
30.09.2017
|
|
|
Quarter ended
30.06.2017
|
|
|
Quarter ended
30.09.2016
|
|
|
Half year ended
30.09.2017
|
|
|
Half year ended
30.09.2016
|
|
|
Year ended
31.03.2017
|
|
|
|
|
|
Unaudited
|
|
|
Unaudited
|
|
|
Unaudited
|
|
|
Audited
|
|
|
Audited
|
|
|
Audited
|
|
|
1
|
|
Segment Revenue
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a)
|
|
Treasury
|
|
|
492717
|
|
|
|
474088
|
|
|
|
475719
|
|
|
|
966805
|
|
|
|
968004
|
|
|
|
2032618
|
|
|
b)
|
|
Retail Banking
|
|
|
1798234
|
|
|
|
1759229
|
|
|
|
1651316
|
|
|
|
3557463
|
|
|
|
3236580
|
|
|
|
6614750
|
|
|
c)
|
|
Wholesale Banking
|
|
|
1038220
|
|
|
|
937223
|
|
|
|
817228
|
|
|
|
1975443
|
|
|
|
1588794
|
|
|
|
3258785
|
|
|
d)
|
|
Other Banking Operations
|
|
|
277984
|
|
|
|
255117
|
|
|
|
212645
|
|
|
|
533101
|
|
|
|
407612
|
|
|
|
904669
|
|
|
e)
|
|
Unallocated
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
Total
|
|
|
3607155
|
|
|
|
3425657
|
|
|
|
3156908
|
|
|
|
7032812
|
|
|
|
6200990
|
|
|
|
12810822
|
|
|
|
|
Less: Inter Segment Revenue
|
|
|
1279537
|
|
|
|
1207119
|
|
|
|
1159819
|
|
|
|
2486656
|
|
|
|
2271638
|
|
|
|
4650577
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from Operations
|
|
|
2327618
|
|
|
|
2218538
|
|
|
|
1997089
|
|
|
|
4546156
|
|
|
|
3929352
|
|
|
|
8160245
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
|
Segment Results
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a)
|
|
Treasury
|
|
|
42822
|
|
|
|
45739
|
|
|
|
33507
|
|
|
|
88561
|
|
|
|
85376
|
|
|
|
165911
|
|
|
b)
|
|
Retail Banking
|
|
|
263109
|
|
|
|
212238
|
|
|
|
200731
|
|
|
|
475347
|
|
|
|
390200
|
|
|
|
843216
|
|
|
c)
|
|
Wholesale Banking
|
|
|
271927
|
|
|
|
282190
|
|
|
|
253276
|
|
|
|
554117
|
|
|
|
483296
|
|
|
|
1012304
|
|
|
d)
|
|
Other Banking Operations
|
|
|
110909
|
|
|
|
98107
|
|
|
|
74350
|
|
|
|
209016
|
|
|
|
132871
|
|
|
|
336533
|
|
|
e)
|
|
Unallocated
|
|
|
(54594
|
)
|
|
|
(42156
|
)
|
|
|
(34308
|
)
|
|
|
(96750
|
)
|
|
|
(68941
|
)
|
|
|
(144055
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Profit Before Tax
|
|
|
634173
|
|
|
|
596118
|
|
|
|
527556
|
|
|
|
1230291
|
|
|
|
1022802
|
|
|
|
2213909
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
Segment Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a)
|
|
Treasury
|
|
|
27557908
|
|
|
|
26570417
|
|
|
|
25089308
|
|
|
|
27557908
|
|
|
|
25089308
|
|
|
|
26335640
|
|
|
b)
|
|
Retail Banking
|
|
|
33628360
|
|
|
|
31457133
|
|
|
|
28268880
|
|
|
|
33628360
|
|
|
|
28268880
|
|
|
|
29582892
|
|
|
c)
|
|
Wholesale Banking
|
|
|
28245767
|
|
|
|
27984965
|
|
|
|
22794021
|
|
|
|
28245767
|
|
|
|
22794021
|
|
|
|
27214883
|
|
|
d)
|
|
Other Banking Operations
|
|
|
3341673
|
|
|
|
3041526
|
|
|
|
2214545
|
|
|
|
3341673
|
|
|
|
2214545
|
|
|
|
2720588
|
|
|
e)
|
|
Unallocated
|
|
|
590025
|
|
|
|
511265
|
|
|
|
515941
|
|
|
|
590025
|
|
|
|
515941
|
|
|
|
530018
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
93363733
|
|
|
|
89565306
|
|
|
|
78882695
|
|
|
|
93363733
|
|
|
|
78882695
|
|
|
|
86384021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4
|
|
Segment Liabilities
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a)
|
|
Treasury
|
|
|
4127964
|
|
|
|
3530332
|
|
|
|
4498097
|
|
|
|
4127964
|
|
|
|
4498097
|
|
|
|
3873249
|
|
|
b)
|
|
Retail Banking
|
|
|
54309020
|
|
|
|
53718130
|
|
|
|
48817836
|
|
|
|
54309020
|
|
|
|
48817836
|
|
|
|
52579290
|
|
|
c)
|
|
Wholesale Banking
|
|
|
22015850
|
|
|
|
19771198
|
|
|
|
15489707
|
|
|
|
22015850
|
|
|
|
15489707
|
|
|
|
19125490
|
|
|
d)
|
|
Other Banking Operations
|
|
|
440338
|
|
|
|
360425
|
|
|
|
287794
|
|
|
|
440338
|
|
|
|
287794
|
|
|
|
314274
|
|
|
e)
|
|
Unallocated
|
|
|
2876242
|
|
|
|
2759448
|
|
|
|
1733535
|
|
|
|
2876242
|
|
|
|
1733535
|
|
|
|
1545480
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
83769414
|
|
|
|
80139533
|
|
|
|
70826969
|
|
|
|
83769414
|
|
|
|
70826969
|
|
|
|
77437783
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5
|
|
Capital Employed
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Segment Assets-Segment Liabilities)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
a)
|
|
Treasury
|
|
|
23429944
|
|
|
|
23040085
|
|
|
|
20591211
|
|
|
|
23429944
|
|
|
|
20591211
|
|
|
|
22462391
|
|
|
b)
|
|
Retail Banking
|
|
|
(20680660
|
)
|
|
|
(22260997
|
)
|
|
|
(20548956
|
)
|
|
|
(20680660
|
)
|
|
|
(20548956
|
)
|
|
|
(22996398
|
)
|
|
c)
|
|
Wholesale Banking
|
|
|
6229917
|
|
|
|
8213767
|
|
|
|
7304314
|
|
|
|
6229917
|
|
|
|
7304314
|
|
|
|
8089393
|
|
|
d)
|
|
Other Banking Operations
|
|
|
2901335
|
|
|
|
2681101
|
|
|
|
1926751
|
|
|
|
2901335
|
|
|
|
1926751
|
|
|
|
2406314
|
|
|
e)
|
|
Unallocated
|
|
|
(2286217
|
)
|
|
|
(2248183
|
)
|
|
|
(1217594
|
)
|
|
|
(2286217
|
)
|
|
|
(1217594
|
)
|
|
|
(1015462
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
9594319
|
|
|
|
9425773
|
|
|
|
8055726
|
|
|
|
9594319
|
|
|
|
8055726
|
|
|
|
8946238
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Business Segments have been identified and reported taking into account the target customer profile, the nature of products
and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by RBI.
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Notes :
|
1
|
Statement of Assets and Liabilities as at September 30, 2017 is given below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(
₹
in lacs)
|
|
|
Particulars
|
|
As at
30.09.2017
|
|
|
As at
30.09.2016
|
|
|
As at
31.03.2017
|
|
|
CAPITAL AND LIABILITIES
|
|
Audited
|
|
|
Audited
|
|
|
Audited
|
|
|
Capital
|
|
|
51680
|
|
|
|
50913
|
|
|
|
51251
|
|
|
Reserves and Surplus
|
|
|
9542639
|
|
|
|
8004813
|
|
|
|
8894987
|
|
|
Deposits
|
|
|
68934590
|
|
|
|
59173061
|
|
|
|
64363966
|
|
|
Borrowings
|
|
|
10153108
|
|
|
|
7703851
|
|
|
|
7402887
|
|
|
Other Liabilities and Provisions
|
|
|
4681716
|
|
|
|
3950057
|
|
|
|
5670930
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
93363733
|
|
|
|
78882695
|
|
|
|
86384021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Balances with Reserve Bank of India
|
|
|
3594151
|
|
|
|
2925372
|
|
|
|
3789687
|
|
|
Balances with Banks and Money at Call and Short notice
|
|
|
988759
|
|
|
|
1787833
|
|
|
|
1105523
|
|
|
Investments
|
|
|
24027904
|
|
|
|
20602862
|
|
|
|
21446334
|
|
|
Advances
|
|
|
60486694
|
|
|
|
49441784
|
|
|
|
55456820
|
|
|
Fixed Assets
|
|
|
353287
|
|
|
|
351225
|
|
|
|
362675
|
|
|
Other Assets
|
|
|
3912938
|
|
|
|
3773619
|
|
|
|
4222982
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
|
93363733
|
|
|
|
78882695
|
|
|
|
86384021
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2
|
The above results have been approved by the Board of Directors at its meeting held on October 24, 2017. The results for the half year ended September 30, 2017 have been audited by the Statutory Auditors of the
Bank. An unqualified report has been issued by them thereon.
|
|
3
|
The Bank has followed the same significant accounting policies in the preparation of these financial results as those followed in the annual financial statements for the year ended March 31, 2017.
|
|
4
|
The figures for the quarter ended September 30, 2017 are the balancing figures between audited figures for half year ended September 30, 2017 and published figures for the quarter ended June 30, 2017.
|
|
5
|
During the quarter and half year ended September 30, 2017, the Bank allotted 10113300 and 21450900 shares respectively pursuant to the exercise of options under the approved employee stock option schemes.
|
|
6
|
During the half year ended September 30, 2017, the Bank raised Additional Tier 1 Capital bonds of
₹
8,000 crore and Tier 2 Capital
bonds of
₹
2,000 crore.
|
|
7
|
RBI circular
DBOD.No.BP.BC.1/21.06.201/2015-16
dated July 1, 2015 on ‘Basel III Capital Regulations’ read together with the RBI circular
DBR.No.BP.BC.80/21.06.201/2014-15
dated March 31, 2015 on ‘Prudential Guidelines on Capital Adequacy and Liquidity Standards—Amendments’ requires banks to make applicable Pillar 3 disclosures
including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Bank’s website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. The disclosures
have not been subjected to audit or review by the statutory auditors.
|
|
8
|
Other income relates to income from
non-fund
based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss
(including revaluation) from investments and recoveries from accounts written off.
|
|
9
|
Other operating expenses include commission paid to sales agents of
₹
600.00 crore (previous period :
₹
474.99 crore) and
₹
1,130.21 crore (previous period :
₹
932.85 crore) for the quarter and half year ended September 30, 2017 respectively and of
₹
1,906.80 crore for the year ended March 31, 2017.
|
|
10
|
As at September 30, 2017, the total number of branches (including extension counters) and ATM network stood at 4,729 branches and 12,259 ATMs respectively.
|
|
11
|
The Bank had participated in a project loan (where the Bank had a 2.3% share) which underwent flexible structuring under the 5:25 regulatory framework as approved by the Joint Lenders Forum (JLF) in February 2016. The
Bank is in ongoing discussions and correspondence with the regulator in relation to certain observations made on the implementation of the
JLF-approved
flexible structuring scheme. The conduct of this account
with the Bank has been standard throughout. Nevertheless, in the interim, the Bank has made sufficient contingent provisions for this account as at September 30, 2017.
|
|
12
|
Pursuant to RBI circular
FMRD.DIRD.10/14.03.002/2015-16
dated May 19, 2016, the Bank has included its repo / reverse repo transactions under Liquidity Adjustment Facility
(LAF) and Marginal Standing Facility (MSF) with RBI under ‘Borrowings from RBI’ / ‘Balances with RBI’, as the case may be. Hitherto, these transactions were netted from / included under ‘Investments’. Figures of the
previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification. The above change in classification has no impact on the profit of the Bank for the periods presented.
|
|
13
|
Figures of the previous period have been regrouped / reclassified wherever necessary to conform to current period’s classification.
|
|
14
|
₹
10 lac =
₹
1 million
|
₹
10 million =
₹
1 crore
|
|
|
|
|
Place : Mumbai
|
|
Aditya Puri
|
|
Date : October 24, 2017
|
|
Managing Director
|
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
|
|
|
|
|
|
|
|
NEWS RELEASE
|
|
HDFC Bank Ltd.
HDFC Bank House,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.
|
HDFC Bank Limited
FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2017
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended September 30, 2017, at their meeting
held in Mumbai on Tuesday, October 24, 2017. The accounts have been subjected to an audit by the statutory auditors of the Bank.
FINANCIAL
RESULTS:
Profit & Loss Account: Quarter ended September 30, 2017
The Bank’s total income for the quarter ended September 30, 2017 was
₹
23,276.2 crore, up from
₹
19,970.9 crore for the quarter ended
September 30, 2016. Net revenues (net interest income plus other income) increased by 22.6% to
₹
13,358.0 crore for the quarter
ended September 30, 2017 from
₹
10,894.5 crore in the corresponding quarter of the previous year. Net interest income (interest
earned less interest expended) for the quarter ended September 30, 2017 grew by 22.0% to
₹
9,752.1 crore, from
₹
7,993.6 crore for the quarter ended September 30, 2016, driven by average asset growth of 17.6% and a core net interest margin for
the quarter of 4.3%.
Other income
(non-interest
revenue) at
₹
3,605.9 crore was 27.0% of the net revenues for the quarter ended September 30, 2017 and grew by 24.3% over
₹
2,901.0 crore in the corresponding quarter ended September 30, 2016. The four components of other income for the quarter ended
September 30, 2017 were fees & commissions of
₹
2,614.0 crore
(
₹
2,103.9 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of
₹
384.0 crore (
₹
295.0
crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of
₹
355.9 crore (
₹
283.5 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of
₹
252.0 crore (
₹
218.6
crore for the corresponding quarter of the previous year).
|
|
|
|
|
|
|
|
|
NEWS RELEASE
|
|
HDFC Bank Ltd.
HDFC Bank House,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.
|
Operating expenses for the quarter ended September 30, 2017 were
₹
5,540.1 crore, an increase of 13.8% over
₹
4,870.0 crore during the corresponding quarter of the previous year. The core
cost-to-income
ratio for the quarter was at 42.6% as against 45.9% for the corresponding quarter ended September 30, 2016.
Provisions and contingencies for the quarter ended September 30, 2017 were
₹
1,476.2 crore (consisting of specific loan loss provisions
₹
1,078.8 crore and
general and other provisions
₹
397.4 crore) as against
₹
749.0 crore (consisting of specific loan loss provisions
₹
640.7 crore and
general and other provisions
₹
108.3 crore) for the corresponding quarter ended September 30, 2016. Profit before tax for the
quarter ended September 30, 2017 was up 20.2% to
₹
6,341.7 crore.
After providing
₹
2,190.7 crore for
taxation, the Bank earned a net profit of
₹
4,151.0 crore, an increase of 20.1% over the quarter ended September 30, 2016.
Balance Sheet: As of September 30, 2017
Total
balance sheet size as of September 30, 2017 was
₹
933,637 crore as against
₹
788,827 crore as of September 30, 2016.
Total deposits as of September 30, 2017 were
₹
689,346 crore, an increase of 16.5% over September 30, 2016. CASA deposits saw healthy growth with both savings account
deposits and current account deposits each growing by 23.6% over the previous year to reach
₹
197,655 crore and
₹
97,825 crore respectively. Time deposits were at
₹
393,866 crore, an increase of 11.7% over the previous year, resulting in CASA deposits comprising 42.9% of total deposits as on
September 30, 2017.
|
|
|
|
|
|
|
|
|
NEWS RELEASE
|
|
HDFC Bank Ltd.
HDFC Bank House,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.
|
Total advances as of September 30, 2017 were
₹
604,867 crore, an increase of 22.3% over September 30, 2016 (domestic advances grew by 26.8%). This loan growth was contributed by both segments of the Bank’s loan portfolio. As per
regulatory [Basel 2] segment classification, retail loans grew by 21.6% and wholesale loans grew by 23.6% (as per internal business classification, the growth was 20.5% and 27.4% respectively). The loan mix between retail:wholesale was 55:45.
Half Year ended September 30, 2017
For the half
year ended September 30, 2017, the Bank earned a total income of
₹
45,461.6 crore as against
₹
39,293.5 crore in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the six months
ended September 30, 2017 were
₹
26,245.4 crore, as against
₹
21,482.6 crore for the six months ended September 30, 2016, an increase of 22.2%. Net profit for the half year ended September 30, 2017 was
₹
8,044.9 crore, up by 20.2% over the corresponding half year ended September 30, 2016.
Capital Adequacy:
The Bank’s total Capital Adequacy
Ratio (CAR) as per Basel III guidelines was at 15.1% as on September 30, 2017 (15.4% as on September 30, 2016) as against a regulatory requirement of 10.25% including Capital Conservation Buffer of 1.25%.
Tier-I
CAR was at 13.3% as of September 30, 2017 and as of September 30, 2016. During the quarter, the Reserve Bank of India designated the Bank as a Domestic Systemically Important Bank and the Bank
will be required to maintain additional Common Equity
Tier-I
Capital of 0.15% effective April 1, 2018, which will increase to 0.20% effective April 1, 2019. Risk-weighted Assets were
₹
738,465 crore
(
₹
576,858 crore as on September 30, 2016).
NETWORK
As of September 30, 2017, the
Bank’s distribution network was at 4,729 branches and 12,259 ATMs across 2,669 cities / towns as against 4,548 branches and 12,016 ATMs across 2,596 cities / towns as of September 30, 2016. Of the total branches, 52% are in semi-urban and
rural areas.
|
|
|
|
|
|
|
|
|
NEWS RELEASE
|
|
HDFC Bank Ltd.
HDFC Bank House,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.
|
ASSET QUALITY
Gross
non-performing
assets were at 1.26% of gross advances as on September 30, 2017, as against 1.24% as on
June 30, 2017 and 1.02% as on September 30, 2016. Net
non-performing
assets were at 0.4% of net advances as on September 30, 2017.
The Bank had participated in a project loan (where the Bank had a 2.3% share) which underwent flexible structuring under the 5:25 regulatory framework as
approved by the Joint Lenders Forum (JLF) in February 2016. The Bank is in ongoing discussions and correspondence with the regulator in relation to certain observations made on the implementation of the
JLF-approved
flexible structuring scheme. The conduct of this account with the Bank has been standard throughout. Nevertheless, in the interim, the Bank has made sufficient contingent provisions for this
account as at September 30, 2017.
Note:
₹
= Indian Rupees
1 crore = 10 million
All figures and ratios are in accordance with Indian GAAP.
BSE: 500180
NSE: HDFCBANK
NYSE: HDB
Certain statements are included in this release
which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,”
“plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions,
that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to,
our ability to implement our strategy successfully, the market acceptance of and demand for various Banking services, future levels of our
non-performing
loans, our growth and expansion, the adequacy of our
allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other
jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in Banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to
roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a
result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking
statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by
any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United
States-led
coalition or any other country, tensions between
India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation,
unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting
and Banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.
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NEWS RELEASE
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HDFC Bank Ltd.
HDFC Bank House,
Senapati Bapat Marg,
Lower Parel,
Mumbai - 400 013.
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For more information please log on to:
www.hdfcBank.com
For media queries please contact:
Neeraj Jha
Head, Corporate Communication
HDFC Bank Ltd., Mumbai.
Tel: 91 - 22 - 6652 1308 (D) / 6652 1000 (B)
Fax: 91 - 22 - 2490
3168
Mobile: +91 93236 20828
neeraj.jha@hdfcBank.com
For investor queries please contact:
Bhavin
Lakhpatwala
HDFC Bank Ltd., Mumbai.
Tel: 91 - 22 - 6652
1083 (D) / 6652 1000 (B)
Mobile: +91 74983 51730
bhavin.lakhpatwala@hdfcBank.com