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HDFC Bank reports 18.4% jump in Q2 profit at Rs 7,513 crore, NII rises 16.7%

HDFC Bank's CASA ratio stood at around 42 percent as of September 2020, compared to 39.3 percent as of September 2019, and 40.1 percent in June 2020

October 19, 2020 / 03:42 PM IST

HDFC Bank, the country's largest private sector lender, reported a 18.4  percent year-on-year (y-o-y) growth in profit at Rs 7,513.11 crore for the September quarter, driven by PPoP, NII and lower tax rate.

The profit in the year-ago period was at Rs 6,345 crore.

Net interest income, the difference between interest earned and interest expended, increased by 16.7 percent y-o-y to Rs 15,776.4 crore in the September quarter, driven by asset growth of 21.5 percent and a core net interest margin for the quarter at 4.1 percent, HDFC Bank said in its BSE filing.

The continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 153 percent, well above the regulatory requirement.