UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of July, 2019
Commission File Number 001-15216
HDFC BANK LIMITED
(Translation of registrants name into English)
HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai. 400 013, India
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒
Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrants home country), or under the rules of the home country exchange on which the registrants securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrants security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.
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): 82- Not Applicable .
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.
HDFC BANK LIMITED | ||||||
(Registrant) | ||||||
Date: 23rd July, 2019 |
By | /s/ Augustine Quadros | ||||
Name: Augustine Quadros | ||||||
Title: Senior Executive Vice President - Legal & Secretarial |
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 22nd July, 2019 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about Financial Result of the Bank for quarter ended 30th June, 2019.
Exhibit I
July 22, 2019
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sirs,
Re: Unaudited Financial Results of the Bank for the quarter ended June 30, 2019
We enclose herewith the Unaudited Standalone and Consolidated Financial Results of the Bank for the first quarter ended June 30, 2019, segment reporting, Press Release and the report of the Statutory Auditor in this regard. The results were duly approved by the Board of Directors at its meeting held on July 20, 2019.
Kindly take the same on your records.
Thanking you,
Yours faithfully,
For HDFC Bank Limited
Sd/-
Augustine Quadros
Senior Executive Vice President- Legal & Secretarial
Encl: As above
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019
(₹ in lacs)
|
||||||||||||||||||
Quarter ended | Year ended 31.03.2019 |
|||||||||||||||||
30.06.2019 | 31.03.2019 | 30.06.2018 | ||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 4) |
Unaudited | Audited | ||||||||||||||
1 | Interest Earned (a)+(b)+(c)+(d) | 2739159 | 2633325 | 2254898 | 9897205 | |||||||||||||
a) Interest / discount on advances / bills | 2180469 | 2101949 | 1739073 | 7754419 | ||||||||||||||
b) Income on Investments | 524779 | 504692 | 458929 | 1999746 | ||||||||||||||
c) Interest on balances with Reserve Bank of India and other inter bank funds |
17520 | 11150 | 33238 | 63570 | ||||||||||||||
d) Others | 16391 | 15534 | 23658 | 79470 | ||||||||||||||
2 | Other Income | 497025 | 487121 | 381806 | 1762587 | |||||||||||||
3 | Total Income (1)+(2) | 3236184 | 3120446 | 2636704 | 11659792 | |||||||||||||
4 | Interest Expended | 1409734 | 1324376 | 1173541 | 5072883 | |||||||||||||
5 | Operating Expenses (i)+(ii) | 711726 | 711710 | 598388 | 2611937 | |||||||||||||
i) Employees cost | 221738 | 207440 | 181051 | 776176 | ||||||||||||||
ii) Other operating expenses | 489988 | 504270 | 417337 | 1835761 | ||||||||||||||
6 | Total Expenditure (4)+(5) (excluding Provisions and Contingencies) | 2121460 | 2036086 | 1771929 | 7684820 | |||||||||||||
7 | Operating Profit before Provisions and Contingencies (3)-(6) | 1114724 | 1084360 | 864775 | 3974972 | |||||||||||||
8 | Provisions (other than tax) and Contingencies | 261366 | 188922 | 162937 | 755008 | |||||||||||||
9 | Exceptional Items | | | | | |||||||||||||
10 | Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9) | 853358 | 895438 | 701838 | 3219964 | |||||||||||||
11 | Tax Expense | 296542 | 306926 | 241694 | 1112150 | |||||||||||||
12 | Net Profit / (Loss) from Ordinary Activities after tax (10)-(11) | 556816 | 588512 | 460144 | 2107814 | |||||||||||||
13 | Extraordinary items (net of tax expense) | | | | | |||||||||||||
14 | Net Profit / (Loss) for the period (12)-(13) | 556816 | 588512 | 460144 | 2107814 | |||||||||||||
15 | Paid up equity share capital (Face Value of ₹2/- each) | 54656 | 54466 | 52083 | 54466 | |||||||||||||
16 | Reserves excluding revaluation reserves | 14866166 | ||||||||||||||||
17 | Analytical Ratios | |||||||||||||||||
(i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | ||||||||||||||
(ii) Capital Adequacy Ratio | 16.9 | % | 17.1 | % | 14.6 | % | 17.1 | % | ||||||||||
(iii) Earnings per share (EPS) (₹) (Face Value of ₹2/- each) | ||||||||||||||||||
(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 20.4 | 21.6 | 17.7 | 78.6 | ||||||||||||||
(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 20.2 | 21.4 | 17.5 | 77.9 | ||||||||||||||
(iv) NPA Ratios | ||||||||||||||||||
(a) Gross NPAs | 1176895 | 1122416 | 953862 | 1122416 | ||||||||||||||
(b) Net NPAs | 356718 | 321452 | 290710 | 321452 | ||||||||||||||
(c) % of Gross NPAs to Gross Advances | 1.40 | % | 1.36 | % | 1.33 | % | 1.36 | % | ||||||||||
(d) % of Net NPAs to Net Advances | 0.43 | % | 0.39 | % | 0.41 | % | 0.39 | % | ||||||||||
(v) Return on assets (average) - not annualized | 0.46 | % | 0.51 | % | 0.44 | % | 1.90 | % |
Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:
(₹ in lacs)
|
||||||||||||||||||
Particulars |
Quarter ended | Year ended 31.03.2019 |
||||||||||||||||
30.06.2019 | 31.03.2019 | 30.06.2018 | ||||||||||||||||
Unaudited | Audited (Refer note 4) |
Unaudited | Audited | |||||||||||||||
1 |
Segment Revenue |
|||||||||||||||||
a) |
Treasury |
629192 | 590094 | 528532 | 2357648 | |||||||||||||
b) |
Retail Banking |
2492929 | 2401535 | 2040059 | 8922234 | |||||||||||||
c) |
Wholesale Banking |
1505961 | 1457003 | 1237905 | 5456354 | |||||||||||||
d) |
Other Banking Operations |
442965 | 424596 | 327863 | 1529943 | |||||||||||||
e) |
Unallocated |
66 | | | 5278 | |||||||||||||
Total |
5071113 | 4873228 | 4134359 | 18271457 | ||||||||||||||
Less: Inter Segment Revenue |
1834929 | 1752782 | 1497655 | 6611665 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Income from Operations |
3236184 | 3120446 | 2636704 | 11659792 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
2 |
Segment Results |
|||||||||||||||||
a) |
Treasury |
78153 | 59218 | 5045 | 130576 | |||||||||||||
b) |
Retail Banking |
306714 | 317451 | 314468 | 1179627 | |||||||||||||
c) |
Wholesale Banking |
332143 | 372483 | 315585 | 1422412 | |||||||||||||
d) |
Other Banking Operations |
179647 | 191256 | 117238 | 679153 | |||||||||||||
e) |
Unallocated |
(43299 | ) | (44970 | ) | (50498 | ) | (191804 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total Profit Before Tax |
853358 | 895438 | 701838 | 3219964 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
3 |
Segment Assets |
|||||||||||||||||
a) |
Treasury |
35599098 | 34876621 | 30170308 | 34876621 | |||||||||||||
b) |
Retail Banking |
44127240 | 42879092 | 38606584 | 42879092 | |||||||||||||
c) |
Wholesale Banking |
40735586 | 40874972 | 34681446 | 40874972 | |||||||||||||
d) |
Other Banking Operations |
5405812 | 5085471 | 3994672 | 5085471 | |||||||||||||
e) |
Unallocated |
657549 | 737915 | 587899 | 737915 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total |
126525285 | 124454071 | 108040909 | 124454071 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
4 |
Segment Liabilities |
|||||||||||||||||
a) |
Treasury |
4383589 | 6143885 | 5869806 | 6143885 | |||||||||||||
b) |
Retail Banking |
76191655 | 73229496 | 62955796 | 73229496 | |||||||||||||
c) |
Wholesale Banking |
27439197 | 27188713 | 25546051 | 27188713 | |||||||||||||
d) |
Other Banking Operations |
542429 | 535706 | 429847 | 535706 | |||||||||||||
e) |
Unallocated |
2404606 | 2435639 | 2472402 | 2435639 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total |
110961476 | 109533439 | 97273902 | 109533439 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
5 |
Capital Employed |
|||||||||||||||||
(Segment Assets-Segment Liabilities) |
||||||||||||||||||
a) |
Treasury |
31215509 | 28732736 | 24300502 | 28732736 | |||||||||||||
b) |
Retail Banking |
(32064415 | ) | (30350404 | ) | (24349212 | ) | (30350404 | ) | |||||||||
c) |
Wholesale Banking |
13296389 | 13686259 | 9135395 | 13686259 | |||||||||||||
d) |
Other Banking Operations |
4863383 | 4549765 | 3564825 | 4549765 | |||||||||||||
e) |
Unallocated |
(1747057 | ) | (1697724 | ) | (1884503 | ) | (1697724 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total |
15563809 | 14920632 | 10767007 | 14920632 | ||||||||||||||
|
|
|
|
|
|
|
|
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 the RBI.
Notes :
1 | Statement of Assets and Liabilities as at June 30, 2019 is given below: |
(₹ in lacs)
|
||||||||||||
Particulars |
As at 30.06.2019 |
As at 30.06.2018 |
As at 31.03.2019 |
|||||||||
CAPITAL AND LIABILITIES |
Unaudited | Unaudited | Audited | |||||||||
Capital |
54656 | 52083 | 54466 | |||||||||
Reserves and Surplus |
15509153 | 10714924 | 14866166 | |||||||||
Deposits |
95455371 | 80578532 | 92314093 | |||||||||
Borrowings |
10089412 | 12102431 | 11708513 | |||||||||
Other Liabilities and Provisions |
5416693 | 4592939 | 5510833 | |||||||||
|
|
|
|
|
|
|||||||
Total |
126525285 | 108040909 | 124454071 | |||||||||
|
|
|
|
|
|
|||||||
ASSETS |
||||||||||||
Cash and Balances with Reserve Bank of India |
5771133 | 3958878 | 4676362 | |||||||||
Balances with Banks and Money at Call and Short notice |
2645660 | 1190508 | 3458401 | |||||||||
Investments |
29850324 | 27567865 | 29058788 | |||||||||
Advances |
82972981 | 70864869 | 81940122 | |||||||||
Fixed Assets |
402627 | 357615 | 403001 | |||||||||
Other Assets |
4882560 | 4101174 | 4917397 | |||||||||
|
|
|
|
|
|
|||||||
Total |
126525285 | 108040909 | 124454071 | |||||||||
|
|
|
|
|
|
2 | The above financial results have been approved by the Board of Directors at its meeting held on July 20, 2019. The financial results for the quarter ended June 30, 2019 have been subjected to a Limited Review by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the quarter ended June 30, 2018 and the year ended March 31, 2019 were subjected to limited review and audit respectively by another firm of chartered accountants. |
3 | The Bank has applied its significant accounting policies in the preparation of these financial results consistent with those followed in the annual financial statements for the year ended March 31, 2019. |
4 | The figures for the quarter ended March 31, 2019 are the balancing figures between audited figures in respect of the financial year 2018-19 and the published year to date figures upto December 31, 2018. |
5 | The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 have approved the sub-division (split) of one equity share of the Bank from nominal value of ₹2/- each into 2 equity shares of nominal value of ₹1/- each. The record date for the sub-division is September 20, 2019. |
6 | The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 have approved a dividend of ₹15 per share (previous year : ₹13 per share) for the year ended March 31, 2019. The Board of Directors at its meeting held on July 20, 2019 has declared a special interim dividend of ₹5 per share to commemorate 25 years of the Banks operations. Effect of the said dividends has been reckoned in determining capital funds in the computation of the capital adequacy ratio. |
7 | During the quarter ended June 30, 2019, the Bank allotted 95,05,661 shares pursuant to the exercise of options under the approved employee stock option schemes. |
8 | Other income relates to income (including commission) from non-fund based banking activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, dividends from subsidiaries and recoveries from accounts previously written off. |
9 | Other operating expenses include commission paid to sales agents of ₹719.83 crore (previous period: ₹737.22 crore) for the quarter ended June 30, 2019. |
10 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current periods classification. |
11 | ₹10 lac = ₹1 million |
₹10 million = ₹1 crore
Place : Mumbai | Aditya Puri | |||
Date : July 20, 2019 | Managing Director |
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019
(₹ in lacs) | ||||||||||||||||||
Quarter ended | Year ended 31.03.2019 |
|||||||||||||||||
30.06.2019 | 31.03.2019 | 30.06.2018 | ||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 5) |
Unaudited | Audited | ||||||||||||||
1 | Interest Earned (a)+(b)+(c)+(d) | 2917645 | 2804505 | 2397867 | 10516075 | |||||||||||||
a) Interest / discount on advances / bills | 2356050 | 2272760 | 1881008 | 8373616 | ||||||||||||||
b) Income on Investments | 525042 | 502759 | 458945 | 1992475 | ||||||||||||||
c) Interest on balances with Reserve Bank of India and other inter bank funds | 18319 | 11928 | 33490 | 66062 | ||||||||||||||
d) Others | 18234 | 17058 | 24424 | 83922 | ||||||||||||||
2 | Other Income | 514800 | 521543 | 402139 | 1894705 | |||||||||||||
3 | Total Income (1)+(2) | 3432445 | 3326048 | 2800006 | 12410780 | |||||||||||||
4 | Interest Expended | 1497715 | 1406156 | 1241337 | 5371269 | |||||||||||||
5 | Operating Expenses (i)+(ii) | 759813 | 755210 | 633806 | 2769476 | |||||||||||||
i) Employees cost | 301745 | 272818 | 246813 | 1045115 | ||||||||||||||
ii) Other operating expenses | 458068 | 482392 | 386993 | 1724361 | ||||||||||||||
6 | Total Expenditure (4)+(5) (excluding Provisions & Contingencies) | 2257528 | 2161366 | 1875143 | 8140745 | |||||||||||||
7 | Operating Profit before Provisions and Contingencies (3)-(6) | 1174917 | 1164682 | 924863 | 4270035 | |||||||||||||
8 | Provisions (Other than tax) and Contingencies | 291434 | 206352 | 182870 | 838218 | |||||||||||||
9 | Exceptional Items | | | | | |||||||||||||
10 | Profit / (Loss) from ordinary activities before tax (7)-(8)-(9) | 883483 | 958330 | 741993 | 3431817 | |||||||||||||
11 | Tax Expense | 314403 | 327278 | 259980 | 1187255 | |||||||||||||
12 | Net Profit / (Loss) from Ordinary Activities after tax (10)-(11) | 569080 | 631052 | 482013 | 2244562 | |||||||||||||
13 | Extraordinary items (net of tax expense) | | | | | |||||||||||||
14 | Net Profit / (Loss) for the period (12)-(13) | 569080 | 631052 | 482013 | 2244562 | |||||||||||||
15 | Less: Share of Profit / (Loss) of minority shareholders | 1474 | 971 | 1178 | 11318 | |||||||||||||
16 | Consolidated Net Profit / (Loss) for the period (14)-(15) | 567606 | 630081 | 480835 | 2233244 | |||||||||||||
17 | Paid up equity share capital (Face Value of ₹2/- each) | 54656 | 54466 | 52083 | 54466 | |||||||||||||
18 | Reserves excluding revaluation reserves | 15312800 | ||||||||||||||||
19 | Analytical Ratios | |||||||||||||||||
(i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | ||||||||||||||
(ii) Earnings per share (EPS) (₹) (Face Value of ₹2/- each) | ||||||||||||||||||
(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 20.8 | 23.2 | 18.5 | 83.3 | ||||||||||||||
(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 20.6 | 22.9 | 18.3 | 82.5 |
Consolidated Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments is as under:
(₹ in lacs) | ||||||||||||||||||
Quarter ended | Year ended 31.03.2019 |
|||||||||||||||||
30.06.2019 | 31.03.2019 | 30.06.2018 | ||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 5) |
Unaudited | Audited | ||||||||||||||
1 | Segment Revenue | |||||||||||||||||
a) | Treasury | 629192 | 590094 | 528532 | 2357648 | |||||||||||||
b) | Retail Banking | 2492929 | 2401535 | 2040059 | 8922234 | |||||||||||||
c) | Wholesale Banking | 1505961 | 1457003 | 1237905 | 5456354 | |||||||||||||
d) | Other banking operations | 639226 | 630197 | 491165 | 2280931 | |||||||||||||
e) | Unallocated | 66 | | | 5278 | |||||||||||||
Total | 5267374 | 5078829 | 4297661 | 19022445 | ||||||||||||||
Less: Inter Segment Revenue | 1834929 | 1752781 | 1497655 | 6611665 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Income from Operations | 3432445 | 3326048 | 2800006 | 12410780 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
2 | Segment Results | |||||||||||||||||
a) | Treasury | 78153 | 59218 | 5045 | 130576 | |||||||||||||
b) | Retail Banking | 306714 | 317451 | 314468 | 1179627 | |||||||||||||
c) | Wholesale Banking | 332143 | 372483 | 315585 | 1422412 | |||||||||||||
d) | Other banking operations | 209772 | 254148 | 157393 | 891006 | |||||||||||||
e) | Unallocated | (43299 | ) | (44970 | ) | (50498 | ) | (191804 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total Profit Before Tax and Minority Interest | 883483 | 958330 | 741993 | 3431817 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
3 | Segment Assets | |||||||||||||||||
a) | Treasury | 35599098 | 34876621 | 30170308 | 34876621 | |||||||||||||
b) | Retail Banking | 44127240 | 42879092 | 38606584 | 42879092 | |||||||||||||
c) | Wholesale Banking | 40735586 | 40874972 | 34681446 | 40874972 | |||||||||||||
d) | Other banking operations | 10385483 | 9911971 | 7994582 | 9911971 | |||||||||||||
e) | Unallocated | 657548 | 737915 | 587899 | 737915 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total | 131504955 | 129280571 | 112040819 | 129280571 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
4 | Segment Liabilities | |||||||||||||||||
a) | Treasury | 4383589 | 6143885 | 5869806 | 6143885 | |||||||||||||
b) | Retail Banking | 76191655 | 73229496 | 62955796 | 73229496 | |||||||||||||
c) | Wholesale Banking | 27439197 | 27188713 | 25546051 | 27188713 | |||||||||||||
d) | Other banking operations | 5018454 | 4865392 | 4050476 | 4865392 | |||||||||||||
e) | Unallocated | 2404605 | 2435640 | 2472402 | 2435640 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total | 115437500 | 113863126 | 100894531 | 113863126 | ||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||
5 | Capital Employed | |||||||||||||||||
(Segment Assets - Segment Liabilities) | ||||||||||||||||||
a) | Treasury | 31215509 | 28732736 | 24300502 | 28732736 | |||||||||||||
b) | Retail Banking | (32064415 | ) | (30350404 | ) | (24349212 | ) | (30350404 | ) | |||||||||
c) | Wholesale Banking | 13296389 | 13686259 | 9135395 | 13686259 | |||||||||||||
d) | Other banking operations | 5367029 | 5046578 | 3944106 | 5046578 | |||||||||||||
e) | Unallocated | (1747057 | ) | (1697724 | ) | (1884503 | ) | (1697724 | ) | |||||||||
|
|
|
|
|
|
|
|
|||||||||||
Total | 16067455 | 15417445 | 11146288 | 15417445 | ||||||||||||||
|
|
|
|
|
|
|
|
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 the RBI.
Notes:
1 | Consolidated Statement of Assets and Liabilities as at June 30, 2019 is given below: |
(₹ in lacs) | ||||||||||||
Particulars |
As at 30.06.2019 |
As at 30.06.2018 |
As at 31.03.2019 |
|||||||||
CAPITAL AND LIABILITIES |
Unaudited | Unaudited | Audited | |||||||||
Capital |
54656 | 52083 | 54466 | |||||||||
Reserves and Surplus |
15961900 | 11058587 | 15312800 | |||||||||
Minority Interest |
50899 | 35618 | 50179 | |||||||||
Deposits |
95377430 | 80535395 | 92250268 | |||||||||
Borrowings |
14367983 | 15531734 | 15773278 | |||||||||
Other Liabilities and Provisions |
5692087 | 4827402 | 5839580 | |||||||||
|
|
|
|
|
|
|||||||
Total |
131504955 | 112040819 | 129280571 | |||||||||
|
|
|
|
|
|
|||||||
ASSETS |
||||||||||||
Cash and balances with Reserve Bank of India |
5775699 | 3961258 | 4680459 | |||||||||
Balances with Banks and Money at Call and Short notice |
2751460 | 1237596 | 3501305 | |||||||||
Investments |
29462525 | 27152152 | 28691768 | |||||||||
Advances |
88093871 | 75138575 | 86922266 | |||||||||
Fixed Assets |
421257 | 377431 | 421984 | |||||||||
Other Assets |
5000143 | 4173807 | 5062789 | |||||||||
|
|
|
|
|
|
|||||||
Total |
131504955 | 112040819 | 129280571 | |||||||||
|
|
|
|
|
|
2 | The above financial results represent the consolidated financial results for HDFC Bank Limited and its subsidiaries constituting the Group. These financial results have been approved by the Board of Directors of the Bank at its meeting held on July 20, 2019. The financial results for the quarter ended June 30, 2019 have been subjected to a Limited Review by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the year ended March 31, 2019 were audited by another firm of chartered accountants. |
3 | The above financial results are prepared in accordance with Section 133 of Companies Act, 2013 read with relevant rules issued thereunder and Regulation 33 of Securities and Exchange Board of India (SEBI) (Listing Obligation and Disclosure Requirements, 2015). |
4 | The Group has applied its significant accounting policies in the preparation of these financial results consistent with those followed in the annual financial statements for the year ended March 31, 2019. |
5 | The figures for the quarter ended March 31, 2019 are the balancing figures between audited figures in respect of the financial year 2018-19 and the unaudited year to date figures upto December 31, 2018. The financial results for the quarter ended June 30, 2018 are not reviewed / audited by the statutory auditors. |
6 | In accordance with RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Banks 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. |
7 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current periods classification. |
8 | ₹10 lac = ₹1 million |
₹10 million = ₹1 crore
Place : Mumbai Date : July 20, 2019 |
Aditya Puri Managing Director |
![]() |
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 ENDED JUNE 30, 2019
The Board of Directors of HDFC Bank Limited approved the Banks (Indian GAAP) results for the quarter ended June 30, 2019, at their meeting held in Mumbai on Saturday, July 20, 2019. The accounts have been subjected to a Limited Review by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended June 30, 2019
The Banks total income for the quarter ended June 30, 2019 at ₹32,361.8 crore grew by 22.7% from ₹26,367.0 crore for the quarter ended June 30, 2018. Net revenues (net interest income plus other income) increased by 24.8% to ₹18,264.5 crore for the quarter ended June 30, 2019 from ₹14,631.6 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2019 grew by 22.9% to ₹13,294.3 crore, from ₹10,813.6 crore for the quarter ended June 30, 2018, driven by asset growth and a core net interest margin for the quarter of 4.3%.
Other income (non-interest revenue) at ₹4,970.3 crore was 27.2% of the net revenues for the quarter ended June 30, 2019 and grew by 30.2% over ₹3,818.1 crore in the corresponding quarter ended June 30, 2018. The four components of other income for the quarter ended June 30, 2019 were fees & commissions of ₹3,551.6 crore (₹3,171.0 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹576.7 crore (₹499.6 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ₹212.0 crore (loss of ₹283.2 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹630.0 crore (₹430.7 crore for the corresponding quarter of the previous year).
Operating expenses for the quarter ended June 30, 2019 were ₹7,117.3 crore, an increase of 18.9% over ₹5,983.9 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 39.4% as against 40.1% for the corresponding quarter ended June 30, 2018.
![]() |
NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. |
Provisions and contingencies for the quarter ended June 30, 2019 were ₹2,613.7 crore as against ₹1,629.4 crore for the quarter ended June 30, 2018. The key components therein for the quarter ended June 30, 2019 were specific loan loss and contingent provisions of ₹2,413.5 crore (as against ₹1,432.2 crore for the corresponding quarter of the previous year) and general provisions ₹200.2 crore (as against ₹183.2 crore for the corresponding quarter of the previous year). General provisions include additional provisions of ₹85.9 crore for standard advances to the NBFC / HFC sector. Profit before tax (PBT) for the quarter ended June 30, 2019 was up 21.6% to ₹8,533.6 crore. After providing ₹2,965.4 crore for taxation, the Bank earned a net profit of ₹5,568.2 crore, an increase of 21.0% over the quarter ended June 30, 2018.
Balance Sheet: As of June 30, 2019
Total balance sheet size as of June 30, 2019 was ₹1,265,253 crore as against ₹1,080,409 crore as of June 30, 2018.
Total deposits as of June 30, 2019 were ₹954,554 crore, an increase of 18.5% over June 30, 2018. CASA deposits grew by 12.8% with savings account deposits at ₹253,338 crore and current account deposits at ₹125,663 crore. Time deposits were at ₹575,553 crore, an increase of 22.5% over the previous year, resulting in CASA deposits comprising 39.7% of total deposits as of June 30, 2019. The Banks continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 126%, well above the regulatory requirement.
Total advances as of June 30, 2019 were ₹829,730 crore, an increase of 17.1% over June 30, 2018. Advances to the vehicle loan segment, where sales volumes have seen some moderation, grew at 8.3% over the previous year. Domestic advances grew by 17.9% over June 30, 2018. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 16.5% and domestic wholesale loans grew by 19.6%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 54:46. Overseas advances constituted 3% of total advances.
![]() |
NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. |
Capital Adequacy:
The Banks total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 16.9% as on June 30, 2019 (14.6% as on June 30, 2018) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 15.6% as of June 30, 2019 compared to 13.1% as of June 30, 2018. Common Equity Tier 1 Capital ratio was at 14.8% as of June 30, 2019. Risk-weighted Assets were at ₹965,635 crore (as against ₹844,894 crore as at June 30, 2018).
DIVIDEND
The Board of Directors has declared a special interim dividend of ₹5 per equity share of ₹2 to commemorate 25 years of the Banks operations.
NETWORK
As of June 30, 2019, the Banks distribution network was at 5,130 banking outlets and 13,395 ATMs across 2,764 cities / towns as against 4,804 banking outlets and 12,808 ATMs across 2,700 cities / towns as of June 30, 2018. Of the total banking outlets, 53% are in semi-urban and rural areas. Number of employees were at 104,154 as of June 30, 2019 (as against 89,550 as of June 30, 2018).
ASSET QUALITY
Gross non-performing assets were at 1.40% of gross advances as on June 30, 2019 (1.17% excluding NPAs in the agricultural segment) as against 1.33% as on June 30, 2018 (1.09% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.4% of net advances as on June 30, 2019. The Bank held floating provisions of ₹1,451 crore as on June 30, 2019. Total provisions (comprising specific provisions, general provisions and floating provisions) were 115% of the gross non-performing loans as on June 30, 2019.
SUBSIDIARIES
The financial results of the Banks subsidiary companies have been prepared in accordance with notified Indian Accounting Standards (Ind-AS).
HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on June 30, 2019, the Bank held 97.3% stake in HSL.
![]() |
NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. |
For the quarter ended June 30, 2019, HSLs total income was ₹189.3 crore as against ₹193.5 crore for the quarter ended June 30, 2018. Profit after tax before other comprehensive income for the quarter was ₹66.5 crore, as against ₹72.6 crore in the previous quarter.
As on June 30, 2019 HSL had 269 branches across 161 cities / towns in the country.
HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-bank finance company (NBFC) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on June 30, 2019, the Bank held 95.5% stake in HDBFSL.
As on June 30, 2019, HDBFSLs balance sheet size was at ₹58,833 crore. The gross loan book grew by 22.7% to ₹56,287 crore as on June 30, 2019 (as against ₹45,889 crore as of June 30, 2018).
For the quarter ended June 30, 2019, HDBFSLs net interest income grew by 12.9% to ₹962.7 crore (as against ₹852.4 crore in the previous quarter). Profit after tax before other comprehensive income for the quarter ended June 30, 2019 was ₹221.9 crore compared to ₹228.0 crore in the previous quarter.
As on June 30, 2019, HDBFSL had 1,381 branches across 996 cities / towns.
Gross impaired loans were at 2.3% of gross loans and net impaired loans were at 1.7% of net loans as on June 30, 2019. Total CAR was at 18.1% with Tier-I CAR at 12.5%.
CONSOLIDATED FINANCIAL RESULTS
The Banks consolidated financial results include the financial results of its subsidiary companies based on the recognition and measurement principles as per Indian GAAP.
The consolidated net profit for the quarter ended June 30, 2019 was ₹5,676 crore, up 18.0%, over the quarter ended June 30, 2018. Consolidated advances grew by 17.2% from ₹751,386 crore as on June 30, 2018 to ₹880,939 crore as on June 30, 2019.
Note:
₹ = Indian Rupees
1 crore = 10 million
![]() |
NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. |
All figures and ratios are in accordance with Indian GAAP unless otherwise specified.
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.
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:
Ajit Shetty
HDFC Bank Ltd., Mumbai.
Tel: 91 - 22 - 6652 1083 (D) / 6652 1000 (B)
Mobile: +91 74983 51730
ajit.shetty@hdfcbank.com