HDFC bank’s profits have increased tremendously. Let us tell you that HDFC Bank’s standalone net profit has increased by 33.17 percent to Rs 16,474.85 crore in the April-June quarter of the current financial year. The bank’s net profit was Rs 12,370 crore in the same quarter of the last financial year. HDFC Bank said in a notice to the stock market that its net profit on a standalone basis in the June quarter increased to Rs 16,174 crore. However, it is less than Rs 16,511 crore of the previous March quarter.
Total income also increased
The total income of the bank increased to Rs 83,701 crore in the June quarter, which was Rs 57,816 crore in the same quarter of the last financial year. Its provision amount has been reduced to Rs 2,602 crore, which was Rs 2,860 crore a year ago. The bank’s gross non-performing asset (NPA) ratio increased from 1.24 per cent to 1.33 per cent in March. HDFC Bank’s total capital adequacy stood at 19.33 per cent at the end of the June quarter.
Union Bank’s net profit rises to Rs 3,679 crore
Union Bank’s net profit rose 13.7 per cent to Rs 3,679 crore in the April-June, 2024 quarter of the current financial year. The bank has indicated challenges in the net interest margin case. The bank said on Saturday that its net interest income grew 6.5 per cent to Rs 9,412 crore. The bank said that an 11.5 per cent increase in interest contributed to this. Its net interest margin declined by 0.13 per cent to 3.05 per cent. Other income grew 15.53 per cent to Rs 4,509 crore. Net interest income and other income declined in the June quarter as compared to the March quarter.
RBL Bank’s net profit increased by 29 percent
Private sector RBL Bank’s net profit increased by 29 percent to Rs 372 crore in the April-June quarter of the current financial year. The bank said on Saturday that its net interest income increased by 20 percent to Rs 1,700 crore in the June quarter. During this period, loans increased by 19 percent. The bank’s net interest margin was 5.67 percent. The bank’s other income increased by 18 percent to Rs 805 crore in the June quarter. The bank’s deposit growth was 18 percent during the June quarter.
