The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended June 30, 2020, at their meeting held in Mumbai on Saturday, July 18, 2020
STANDALONE FINANCIAL RESULTS
Profit & Loss Account: Quarter ended June 30, 2020
The Bank’s net revenues (net interest income plus other income) grew to ₹ 19,740.7crore for the quarter ended June 30, 2020 from ₹ 18,264.5 for the quarter ended June 30, 2019.
Net interest income (interest earned less interest expended) for the quarter ended June 30, 2020 grew by 17.8% to ₹15,665.4 crore from ₹13,294.3 crore for the quarter ended June 30, 2019, driven by growth in advances of 20.9%, and a growth in deposits of 24.6%.
The net interest margin for the quarter was at 4.3%. Other income (non-interest revenue) at ₹4,075.3crore was 20.6%of the net revenues for the quarter ended June 30, 2020 as against ₹4,970.3 crore in the corresponding quarter ended June 30, 2019
The continued slowdown in economic activity has led to a decrease in retail loan origination, sale of third party products,use of credit and debit cards by customers,efficiency in collection efforts and waivers of certain fees
