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 January, 2020
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: 20th January, 2020 | By | /s/ Santosh Haldankar | ||||
Name: | Santosh Haldankar | |||||
Title: | Senior 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 18th January, 2020 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about the Financial Result of the Bank for Quarter (Unaudited) and Nine Months (Unaudited) ended 31st December, 2019.
Exhibit I
January 18, 2020
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sirs,
Re: Unaudited Financial Results of the Bank for the quarter and nine months ended December 31, 2019
Pursuant to the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the standalone and consolidated financial results for the third quarter (unaudited) and nine months (unaudited) ended December 31, 2019 were duly approved by the Board of Directors at its meeting held today and are enclosed herewith.
Kindly take the same on your records.
Thanking you,
Yours faithfully,
For HDFC Bank Limited
Sd/-
Santosh Haldankar
Sr. Vice President (Legal) & Company Secretary
Encl: As above
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.
Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019
(₹ in lacs)
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Quarter ended | Nine Months ended |
Year ended 31.03.2019 |
||||||||||||||||||||||||
31.12.2019 | 30.09.2019 | 31.12.2018 | 31.12.2019 | 31.12.2018 | ||||||||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 4) |
Unaudited | Unaudited | Unaudited | Audited | ||||||||||||||||||||
1 | Interest Earned (a)+(b)+(c)+(d) | 2936972 | 2816628 | 2589026 | 8492759 | 7263880 | 9897205 | |||||||||||||||||||
a) Interest / discount on advances / bills | 2342463 | 2251398 | 2030629 | 6774330 | 5652470 | 7754419 | ||||||||||||||||||||
b) Income on Investments | 520314 | 509169 | 531901 | 1554262 | 1495054 | 1999746 | ||||||||||||||||||||
c) Interest on balances with Reserve Bank of India and other inter bank funds | 60829 | 41642 | 9824 | 119991 | 52420 | 63570 | ||||||||||||||||||||
d) Others | 13366 | 14419 | 16672 | 44176 | 63936 | 79470 | ||||||||||||||||||||
2 | Other Income | 666928 | 558872 | 492101 | 1722825 | 1275466 | 1762587 | |||||||||||||||||||
3 | Total Income (1)+(2) | 3603900 | 3375500 | 3081127 | 10215584 | 8539346 | 11659792 | |||||||||||||||||||
4 | Interest Expended | 1519682 | 1465124 | 1331351 | 4394540 | 3748507 | 5072883 | |||||||||||||||||||
5 | Operating Expenses (i)+(ii) | 789677 | 740568 | 671934 | 2241971 | 1900227 | 2611937 | |||||||||||||||||||
i) Employees cost | 245496 | 235507 | 196764 | 702741 | 568736 | 776176 | ||||||||||||||||||||
ii) Other operating expenses | 544181 | 505061 | 475170 | 1539230 | 1331491 | 1835761 | ||||||||||||||||||||
6 | Total Expenditure (4)+(5) (excluding Provisions and Contingencies) | 2309359 | 2205692 | 2003285 | 6636511 | 5648734 | 7684820 | |||||||||||||||||||
7 | Operating Profit before Provisions and Contingencies (3)-(6) | 1294541 | 1169808 | 1077842 | 3579073 | 2890612 | 3974972 | |||||||||||||||||||
8 | Provisions (other than tax) and Contingencies | 304356 | 270068 | 221153 | 835790 | 566086 | 755008 | |||||||||||||||||||
9 | Exceptional Items | | | | | | | |||||||||||||||||||
10 | Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9) | 990185 | 899740 | 856689 | 2743283 | 2324526 | 3219964 | |||||||||||||||||||
11 | Tax Expense | 248537 | 265241 | 298104 | 810320 | 805224 | 1112150 | |||||||||||||||||||
12 | Net Profit / (Loss) from Ordinary Activities after tax (10)-(11) | 741648 | 634499 | 558585 | 1932963 | 1519302 | 2107814 | |||||||||||||||||||
13 | Extraordinary items (net of tax expense) | | | | | | | |||||||||||||||||||
14 | Net Profit / (Loss) for the period (12)-(13) | 741648 | 634499 | 558585 | 1932963 | 1519302 | 2107814 | |||||||||||||||||||
15 | Paid up equity share capital (Face Value of ₹1/- each) | 54770 | 54708 | 54390 | 54770 | 54390 | 54466 | |||||||||||||||||||
16 | Reserves excluding revaluation reserves | 14866166 | ||||||||||||||||||||||||
17 | Analytical Ratios | |||||||||||||||||||||||||
(i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | Nil | ||||||||||||||||||||
(ii) Capital Adequacy Ratio | 18.5 | % | 17.5 | % | 17.3 | % | 18.5 | % | 17.3 | % | 17.1 | % | ||||||||||||||
(iii) Earnings per share (EPS) (₹) (Face Value of ₹1/- each) | ||||||||||||||||||||||||||
(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 13.5 | 11.6 | 10.3 | 35.4 | 28.5 | 39.3 | ||||||||||||||||||||
(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 13.4 | 11.5 | 10.2 | 35.1 | 28.2 | 39.0 | ||||||||||||||||||||
(iv) NPA Ratios | ||||||||||||||||||||||||||
(a) Gross NPAs | 1342725 | 1250815 | 1090286 | 1342725 | 1090286 | 1122416 | ||||||||||||||||||||
(b) Net NPAs | 446835 | 379095 | 330154 | 446835 | 330154 | 321452 | ||||||||||||||||||||
(c) % of Gross NPAs to Gross Advances | 1.42 | % | 1.38 | % | 1.38 | % | 1.42 | % | 1.38 | % | 1.36 | % | ||||||||||||||
(d) % of Net NPAs to Net Advances | 0.48 | % | 0.42 | % | 0.42 | % | 0.48 | % | 0.42 | % | 0.39 | % | ||||||||||||||
(v) Return on assets (average) - not annualized | 0.55 | % | 0.50 | % | 0.49 | % | 1.51 | % | 1.39 | % | 1.90 | % |
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:
(₹ in lacs)
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Quarter ended | Nine Months ended | Year ended 31.03.2019 |
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31.12.2019 | 30.09.2019 | 31.12.2018 | 31.12.2019 | 31.12.2018 | ||||||||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 4) |
Unaudited | Unaudited | Unaudited | Audited | ||||||||||||||||||||
1 | Segment Revenue | |||||||||||||||||||||||||
a) | Treasury | 708374 | 627540 | 668444 | 1965106 | 1767554 | 2357648 | |||||||||||||||||||
b) | Retail Banking | 2775928 | 2710078 | 2310038 | 7978935 | 6520699 | 8922234 | |||||||||||||||||||
c) | Wholesale Banking | 1576940 | 1502943 | 1421965 | 4585844 | 3999351 | 5456354 | |||||||||||||||||||
d) | Other Banking Operations | 521074 | 434503 | 413595 | 1398542 | 1105347 | 1529943 | |||||||||||||||||||
e) | Unallocated | | | | 66 | 5278 | 5278 | |||||||||||||||||||
Total | 5582316 | 5275064 | 4814042 | 15928493 | 13398229 | 18271457 | ||||||||||||||||||||
Less: Inter Segment Revenue | 1978416 | 1899564 | 1732915 | 5712909 | 4858883 | 6611665 | ||||||||||||||||||||
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Income from Operations | 3603900 | 3375500 | 3081127 | 10215584 | 8539346 | 11659792 | ||||||||||||||||||||
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2 | Segment Results | |||||||||||||||||||||||||
a) | Treasury | 90373 | 69521 | 64945 | 238047 | 71358 | 130576 | |||||||||||||||||||
b) | Retail Banking | 318421 | 402364 | 246261 | 1027499 | 862176 | 1179627 | |||||||||||||||||||
c) | Wholesale Banking | 397927 | 300691 | 384473 | 1030761 | 1049929 | 1422412 | |||||||||||||||||||
d) | Other Banking Operations | 226352 | 169931 | 211977 | 575930 | 487897 | 679153 | |||||||||||||||||||
e) | Unallocated | (42888 | ) | (42767 | ) | (50967 | ) | (128954 | ) | (146834 | ) | (191804 | ) | |||||||||||||
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Total Profit Before Tax | 990185 | 899740 | 856689 | 2743283 | 2324526 | 3219964 | ||||||||||||||||||||
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3 | Segment Assets | |||||||||||||||||||||||||
a) | Treasury | 37086993 | 34321814 | 31234090 | 37086993 | 31234090 | 34876621 | |||||||||||||||||||
b) | Retail Banking | 47895345 | 45996296 | 42104049 | 47895345 | 42104049 | 42879092 | |||||||||||||||||||
c) | Wholesale Banking | 47693394 | 45845204 | 38007364 | 47693394 | 38007364 | 40874972 | |||||||||||||||||||
d) | Other Banking Operations | 6036452 | 5504158 | 4772589 | 6036452 | 4772589 | 5085471 | |||||||||||||||||||
e) | Unallocated | 821378 | 839726 | 737539 | 821378 | 737539 | 737915 | |||||||||||||||||||
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Total | 139533562 | 132507198 | 116855631 | 139533562 | 116855631 | 124454071 | ||||||||||||||||||||
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4 | Segment Liabilities | |||||||||||||||||||||||||
a) | Treasury | 6097321 | 4374217 | 5875744 | 6097321 | 5875744 | 6143885 | |||||||||||||||||||
b) | Retail Banking | 85664751 | 81524711 | 68388252 | 85664751 | 68388252 | 73229496 | |||||||||||||||||||
c) | Wholesale Banking | 28547637 | 27977539 | 25451869 | 28547637 | 25451869 | 27188713 | |||||||||||||||||||
d) | Other Banking Operations | 554529 | 553999 | 466821 | 554529 | 466821 | 535706 | |||||||||||||||||||
e) | Unallocated | 2310248 | 2500439 | 2376184 | 2310248 | 2376184 | 2435639 | |||||||||||||||||||
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Total | 123174486 | 116930905 | 102558870 | 123174486 | 102558870 | 109533439 | ||||||||||||||||||||
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5 | Capital Employed | |||||||||||||||||||||||||
(Segment Assets - Segment Liabilities) | ||||||||||||||||||||||||||
a) | Treasury | 30989672 | 29947597 | 25358346 | 30989672 | 25358346 | 28732736 | |||||||||||||||||||
b) | Retail Banking | (37769406 | ) | (35528415 | ) | (26284203 | ) | (37769406 | ) | (26284203 | ) | (30350404 | ) | |||||||||||||
c) | Wholesale Banking | 19145757 | 17867665 | 12555495 | 19145757 | 12555495 | 13686259 | |||||||||||||||||||
d) | Other Banking Operations | 5481923 | 4950159 | 4305768 | 5481923 | 4305768 | 4549765 | |||||||||||||||||||
e) | Unallocated | (1488870 | ) | (1660713 | ) | (1638645 | ) | (1488870 | ) | (1638645 | ) | (1697724 | ) | |||||||||||||
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Total | 16359076 | 15576293 | 14296761 | 16359076 | 14296761 | 14920632 | ||||||||||||||||||||
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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 December 31, 2019 is given below: |
(₹ in lacs)
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Particulars |
As at 31.12.2019 |
As at 31.12.2018 |
As at 31.03.2019 |
|||||||||
CAPITAL AND LIABILITIES |
Unaudited | Unaudited | Audited | |||||||||
Capital |
54770 | 54390 | 54466 | |||||||||
Reserves and Surplus |
16304306 | 14242371 | 14866166 | |||||||||
Deposits |
106743347 | 85250190 | 92314093 | |||||||||
Borrowings |
11327720 | 12345976 | 11708513 | |||||||||
Other Liabilities and Provisions |
5103419 | 4962704 | 5510833 | |||||||||
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Total |
139533562 | 116855631 | 124454071 | |||||||||
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ASSETS |
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Cash and Balances with Reserve Bank of India |
9279115 | 4906485 | 4676362 | |||||||||
Balances with Banks and Money at Call and Short notice |
961497 | 764963 | 3458401 | |||||||||
Investments |
31129412 | 27975321 | 29058788 | |||||||||
Advances |
93602952 | 78095117 | 81940122 | |||||||||
Fixed Assets |
428829 | 386032 | 403001 | |||||||||
Other Assets |
4131757 | 4727713 | 4917397 | |||||||||
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Total |
139533562 | 116855631 | 124454071 | |||||||||
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2 | The above financial results have been approved by the Board of Directors at its meeting held on January 18, 2020. The financial results for the quarter and nine months ended December 31, 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 and nine months ended December 31, 2018 and the year ended March 31, 2019 were subjected to limited review / audit 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 September 30, 2019 are the balancing figures between audited figures in respect of the half year ended September 30, 2019 and the published year to date figures upto June 30, 2019. |
5 | The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 approved the sub-division (split) of one equity share of the Bank from face value of ₹2/- each into two equity shares of face value of ₹1/- each. All shares and per share information in the financial results reflect the effect of sub-division (split) retrospectively. |
6 | During the quarter and nine months ended December 31, 2019, the Bank allotted 62,63,174 and 3,04,13,848 equity shares respectively pursuant to the exercise of options under the approved employee stock option schemes. |
7 | 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. |
8 | Other operating expenses include commission paid to sales agents of ₹836.15 crore (previous period : ₹665.40 crore) and ₹2,297.91 crore (previous period : ₹2,108.06 crore) for the quarter and nine months ended Decemebr 31, 2019 respectively. |
9 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current periods classification. |
10 | ₹10 lac = ₹1 million |
₹10 million = ₹1 crore
Place : Mumbai |
Aditya Puri | |||
Date : January 18, 2020 |
Managing Director |
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.
Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739
UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019
(₹ in lacs)
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Quarter ended | Nine Months ended |
Year ended 31.03.2019 |
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31.12.2019 | 30.09.2019 | 31.12.2018 | 31.12.2019 | 31.12.2018 | ||||||||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 4) |
Unaudited | Unaudited | Unaudited | Audited | ||||||||||||||||||||
1 | Interest Earned (a)+(b)+(c)+(d) | 3120092 | 3001688 | 2743429 | 9039425 | 7711570 | 10516075 | |||||||||||||||||||
a) Interest / discount on advances / bills | 2526590 | 2433399 | 2188970 | 7316039 | 6100856 | 8373616 | ||||||||||||||||||||
b) Income on Investments | 515536 | 509138 | 526130 | 1549716 | 1489716 | 1992475 | ||||||||||||||||||||
c) Interest on balances with Reserve Bank of India and other inter bank funds | 61925 | 42505 | 10571 | 122749 | 54134 | 66062 | ||||||||||||||||||||
d) Others | 16041 | 16646 | 17758 | 50921 | 66864 | 83922 | ||||||||||||||||||||
2 | Other Income | 712478 | 611408 | 528848 | 1838686 | 1373162 | 1894705 | |||||||||||||||||||
3 | Total Income (1)+(2) | 3832570 | 3613096 | 3272277 | 10878111 | 9084732 | 12410780 | |||||||||||||||||||
4 | Interest Expended | 1607327 | 1555844 | 1406252 | 4660886 | 3965113 | 5371269 | |||||||||||||||||||
5 | Operating Expenses (i)+(ii) | 852535 | 805233 | 714404 | 2417581 | 2014266 | 2769476 | |||||||||||||||||||
i) Employees cost | 333105 | 319479 | 269278 | 954329 | 772297 | 1045115 | ||||||||||||||||||||
ii) Other operating expenses | 519430 | 485754 | 445126 | 1463252 | 1241969 | 1724361 | ||||||||||||||||||||
6 | Total Expenditure (4)+(5) (excluding Provisions and Contingencies) | 2459862 | 2361077 | 2120656 | 7078467 | 5979379 | 8140745 | |||||||||||||||||||
7 | Operating Profit before Provisions and Contingencies (3)-(6) | 1372708 | 1252019 | 1151621 | 3799644 | 3105353 | 4270035 | |||||||||||||||||||
8 | Provisions (Other than tax) and Contingencies | 347790 | 309120 | 245926 | 948344 | 631866 | 838218 | |||||||||||||||||||
9 | Exceptional Items | | | | | | | |||||||||||||||||||
10 | Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9) | 1024918 | 942899 | 905695 | 2851300 | 2473487 | 3431817 | |||||||||||||||||||
11 | Tax Expense | 258922 | 278019 | 315908 | 851344 | 859977 | 1187255 | |||||||||||||||||||
12 | Net Profit / (Loss) from Ordinary Activities after tax (10)-(11) | 765996 | 664880 | 589787 | 1999956 | 1613510 | 2244562 | |||||||||||||||||||
13 | Extraordinary items (net of tax expense) | | | | | | | |||||||||||||||||||
14 | Net Profit / (Loss) for the period (12)-(13) | 765996 | 664880 | 589787 | 1999956 | 1613510 | 2244562 | |||||||||||||||||||
15 | Less: Share of Profit / (Loss) of minority shareholders | 31 | 1077 | (300 | ) | 2582 | 10347 | 11318 | ||||||||||||||||||
16 | Consolidated Net Profit / (Loss) for the period (14)-(15) | 765965 | 663803 | 590087 | 1997374 | 1603163 | 2233244 | |||||||||||||||||||
17 | Paid up equity share capital (Face Value of ₹1/- each) | 54770 | 54708 | 54390 | 54770 | 54390 | 54466 | |||||||||||||||||||
18 | Reserves excluding revaluation reserves |
|
15312800 | |||||||||||||||||||||||
19 | Analytical Ratios | |||||||||||||||||||||||||
(i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | Nil | ||||||||||||||||||||
(ii) Earnings per share (EPS) (₹) (Face Value of ₹1/- each) | ||||||||||||||||||||||||||
(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 14.0 | 12.1 | 10.9 | 36.5 | 30.1 | 41.7 | ||||||||||||||||||||
(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 13.9 | 12.0 | 10.8 | 36.2 | 29.8 | 41.3 |
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Consolidated Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:
(₹ in lacs) |
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Quarter ended | Nine Months ended |
Year ended 31.03.2019 |
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31.12.2019 | 30.09.2019 | 31.12.2018 | 31.12.2019 | 31.12.2018 | ||||||||||||||||||||||
Particulars |
Unaudited | Audited (Refer note 4) |
Unaudited | Unaudited | Unaudited | Audited | ||||||||||||||||||||
1 | Segment Revenue | |||||||||||||||||||||||||
a) | Treasury | 708374 | 627540 | 668444 | 1965106 | 1767554 | 2357648 | |||||||||||||||||||
b) | Retail Banking | 2775928 | 2710078 | 2310038 | 7978935 | 6520699 | 8922234 | |||||||||||||||||||
c) | Wholesale Banking | 1576940 | 1502943 | 1421965 | 4585844 | 3999351 | 5456354 | |||||||||||||||||||
d) | Other Banking Operations | 749744 | 672099 | 604744 | 2061069 | 1650734 | 2280931 | |||||||||||||||||||
e) | Unallocated | | | | 66 | 5278 | 5278 | |||||||||||||||||||
Total | 5810986 | 5512660 | 5005191 | 16591020 | 13943616 | 19022445 | ||||||||||||||||||||
Less: Inter Segment Revenue | 1978416 | 1899564 | 1732914 | 5712909 | 4858884 | 6611665 | ||||||||||||||||||||
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|||||||||||||||
Income from Operations | 3832570 | 3613096 | 3272277 | 10878111 | 9084732 | 12410780 | ||||||||||||||||||||
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2 | Segment Results | |||||||||||||||||||||||||
a) | Treasury | 90373 | 69521 | 64945 | 238047 | 71358 | 130576 | |||||||||||||||||||
b) | Retail Banking | 318421 | 402364 | 246261 | 1027499 | 862176 | 1179627 | |||||||||||||||||||
c) | Wholesale Banking | 397927 | 300691 | 384473 | 1030761 | 1049929 | 1422412 | |||||||||||||||||||
d) | Other Banking Operations | 261085 | 213090 | 260982 | 683947 | 636858 | 891006 | |||||||||||||||||||
e) | Unallocated | (42888 | ) | (42767 | ) | (50966 | ) | (128954 | ) | (146834 | ) | (191804 | ) | |||||||||||||
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|
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|||||||||||||||
Total Profit Before Tax and Minority Interest | 1024918 | 942899 | 905695 | 2851300 | 2473487 | 3431817 | ||||||||||||||||||||
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3 | Segment Assets | |||||||||||||||||||||||||
a) | Treasury | 37086993 | 34321814 | 31234089 | 37086993 | 31234089 | 34876621 | |||||||||||||||||||
b) | Retail Banking | 47895345 | 45996296 | 42104049 | 47895345 | 42104049 | 42879092 | |||||||||||||||||||
c) | Wholesale Banking | 47693394 | 45845204 | 38007364 | 47693394 | 38007364 | 40874972 | |||||||||||||||||||
d) | Other Banking Operations | 11026688 | 10439010 | 9273757 | 11026688 | 9273757 | 9911971 | |||||||||||||||||||
e) | Unallocated | 821378 | 839726 | 737539 | 821378 | 737539 | 737915 | |||||||||||||||||||
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|
|
|
|
|
|
|
|
|
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|
|||||||||||||||
Total | 144523798 | 137442050 | 121356798 | 144523798 | 121356798 | 129280571 | ||||||||||||||||||||
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4 | Segment Liabilities | |||||||||||||||||||||||||
a) | Treasury | 6097321 | 4374217 | 5875744 | 6097321 | 5875744 | 6143885 | |||||||||||||||||||
b) | Retail Banking | 85664751 | 81524711 | 68388252 | 85664751 | 68388252 | 73229496 | |||||||||||||||||||
c) | Wholesale Banking | 28547637 | 27977539 | 25451869 | 28547637 | 25451869 | 27188713 | |||||||||||||||||||
d) | Other Banking Operations | 4984839 | 4954546 | 4512434 | 4984839 | 4512434 | 4865392 | |||||||||||||||||||
e) | Unallocated | 2310248 | 2500439 | 2376184 | 2310248 | 2376184 | 2435640 | |||||||||||||||||||
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|||||||||||||||
Total | 127604796 | 121331452 | 106604483 | 127604796 | 106604483 | 113863126 | ||||||||||||||||||||
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5 | Capital Employed | |||||||||||||||||||||||||
(Segment Assets - Segment Liabilities) | ||||||||||||||||||||||||||
a) | Treasury | 30989672 | 29947597 | 25358345 | 30989672 | 25358345 | 28732736 | |||||||||||||||||||
b) | Retail Banking | (37769406 | ) | (35528415 | ) | (26284203 | ) | (37769406 | ) | (26284203 | ) | (30350404 | ) | |||||||||||||
c) | Wholesale Banking | 19145757 | 17867665 | 12555495 | 19145757 | 12555495 | 13686259 | |||||||||||||||||||
d) | Other Banking Operations | 6041849 | 5484464 | 4761323 | 6041849 | 4761323 | 5046578 | |||||||||||||||||||
e) | Unallocated | (1488870 | ) | (1660713 | ) | (1638645 | ) | (1488870 | ) | (1638645 | ) | (1697724 | ) | |||||||||||||
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|||||||||||||||
Total | 16919002 | 16110598 | 14752315 | 16919002 | 14752315 | 15417445 | ||||||||||||||||||||
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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 December 31, 2019 is given below: |
(₹ in lacs)
|
||||||||||||
Particulars |
As at 31.12.2019 |
As at 31.12.2018 |
As at 31.03.2019 |
|||||||||
CAPITAL AND LIABILITIES |
Unaudited | Unaudited | Audited | |||||||||
Capital |
54770 | 54390 | 54466 | |||||||||
Reserves and Surplus |
16809070 | 14649201 | 15312800 | |||||||||
Minority Interest |
55162 | 48724 | 50179 | |||||||||
Deposits |
106702659 | 85218968 | 92250268 | |||||||||
Borrowings |
15498384 | 16170569 | 15773278 | |||||||||
Other Liabilities and Provisions |
5403753 | 5214946 | 5839580 | |||||||||
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|
|
|
|
|
|||||||
Total |
144523798 | 121356798 | 129280571 | |||||||||
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|
|
|
|
|||||||
ASSETS |
||||||||||||
Cash and balances with Reserve Bank of India |
9283118 | 4909376 | 4680459 | |||||||||
Balances with Banks and Money at Call and Short notice |
1053286 | 810422 | 3501305 | |||||||||
Investments |
30787726 | 27621630 | 28691768 | |||||||||
Advances |
98660629 | 82785318 | 86922266 | |||||||||
Fixed Assets |
447650 | 405611 | 421984 | |||||||||
Other Assets |
4291389 | 4824441 | 5062789 | |||||||||
|
|
|
|
|
|
|||||||
Total |
144523798 | 121356798 | 129280571 | |||||||||
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|
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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 January 18, 2020. The financial results for the quarter and nine months ended December 31, 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 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. |
4 | The figures for the quarter ended September 30, 2019 are the balancing figures between audited figures in respect of the half year ended September 30, 2019 and the published year to date figures upto June 30, 2019. The financial results for the quarter and nine months ended December 31, 2018 are not reviewed / audited by the statutory auditors. |
5 | In accordance with the 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. |
6 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current periods classification. |
7 | ₹10 lac = ₹1 million |
₹10 million = ₹1 crore
Place : Mumbai Date : January 18, 2020 |
Aditya Puri Managing Director |
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
HDFC Bank Limited
FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019
The Board of Directors of HDFC Bank Limited approved the Banks (Indian GAAP) results for the quarter and nine months ended December 31, 2019, at their meeting held in Mumbai on Saturday, January 18, 2020. The accounts have been subjected to a Limited Review by the statutory auditors of the Bank.
STANDALONE FINANCIAL RESULTS:
Profit & Loss Account: Quarter ended December 31, 2019
The Banks net revenues (net interest income plus other income) increased by 19.1% to ₹20,842.2 crore for the quarter ended December 31, 2019 over the corresponding quarter of the previous year.
Net interest income (interest earned less interest expended) for the quarter ended December 31, 2019 grew to ₹14,172.9 crore from ₹12,576.8 crore for the quarter ended December 31, 2018, driven by growth in advances of 19.9%, and a growth in deposits of 25.2%. The net interest margin for the quarter remained stable at 4.2%.
Other income (non-interest revenue) at ₹6,669.3 crore was 32.0% of the net revenues for the quarter ended December 31, 2019 as against ₹4,921.0 crore in the corresponding quarter ended December 31, 2018. The main component of other income viz. fees & commissions grew by 24.1% to ₹4,526.8 crore for the quarter ended December 31, 2019. The other components of other income for the quarter ended December 31, 2019 were foreign exchange & derivatives revenue of ₹525.6 crore (₹397.7 crore for the corresponding quarter of the previous year), gain on sale / revaluation of investments of ₹676.5 crore (gain of ₹474.0 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹940.4 crore (₹402.6 crore for the corresponding quarter of the previous year). The recoveries include one-off item of approximately ₹200 crore arising from resolution of a NCLT matter.
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
Operating expenses for the quarter ended December 31, 2019 were ₹7,896.8 crore, an increase of 17.5% over ₹6,719.3 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 37.9% as against 38.4% for the corresponding quarter ended December 31, 2018.
Pre-provision Operating Profit (PPOP) at ₹12,945.4 crore grew by 20.1% over the corresponding quarter of the previous year.
Provisions and contingencies for the quarter ended December 31, 2019 were ₹3,043.6 crore (consisting of specific loan loss provisions of ₹2,883.6 crore and general provisions and other provisions of ₹159.9 crore) as against ₹2,211.5 crore (consisting of specific loan loss provisions of ₹1,734.6 crore and general provisions and other provisions of ₹476.9 crore) for the quarter ended December 31, 2018. The specific loan loss provisions in the current quarter include one-offs of approximately ₹700 crore, primarily relating to certain corporate accounts. Therefore, the Core Credit Cost ratio (i.e. excluding one-offs), was 0.92%, as compared to 0.90% in the quarter ending September 30, 2019 and 0.88% in the quarter ending December 31, 2018.
Profit before tax (PBT) for the quarter ended December 31, 2019 was at ₹9,901.9 crore. Adjusting for one-off credit items, the Core PBT at ₹10,401.9 crore grew by approximately 21%. After providing ₹2,485.4 crore for taxation, the Bank earned a net profit of ₹7,416.5 crore, an increase of 32.8% over the quarter ended December 31, 2018.
Balance Sheet: As of December 31, 2019
Total balance sheet size as of December 31, 2019 was ₹1,395,336 crore as against ₹1,168,556 crore as of December 31, 2018, a growth of 19.4%.
Total deposits as of December 31, 2019 were ₹1,067,433 crore, an increase of 25.2% over December 31, 2018. CASA deposits grew by 21.5% with savings account deposits at ₹277,928 crore and current account deposits at ₹143,900 crore. Time deposits were at ₹645,606 crore, an increase of 27.7% over the previous year, resulting in CASA deposits comprising 39.5% of total deposits as of December 31, 2019. The Banks continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 140%, well above the regulatory requirement.
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
Total advances as of December 31, 2019 were ₹936,030 crore, an increase of 19.9% over December 31, 2018. Domestic advances grew by 20.9% over December 31, 2018. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 14.1% and domestic wholesale loans grew by 29.3%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 52:48. Overseas advances constituted 2% of total advances.
Nine Months ended December 31, 2019
For the nine months ended December 31, 2019, the Banks net revenues (net interest income plus other income) were ₹58,210.4 crore, as against ₹47,908.4 crore for the nine months ended December 31, 2018, a growth of 21.5%. Net profit for the nine months ended December 31, 2019 was ₹19,329.6 crore, up by 27.2% over the corresponding nine months ended December 31, 2018.
Capital Adequacy:
The Banks total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.5% as on December 31, 2019 (17.3% as on December 31, 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 17.1% as of December 31, 2019 compared to 15.8% as of December 31, 2018. Common Equity Tier 1 Capital ratio was at 16.2% as of December 31, 2019. Risk-weighted Assets were at ₹950,976 crore (as against ₹908,245 crore as at December 31, 2018).
NETWORK
As of December 31, 2019, the Banks distribution network was at 5,345 banking outlets and 14,533 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 2,787 cities / towns as against 4,963 banking outlets and 13,407 ATMs / CDMs across 2,727 cities / towns as of December 31, 2018. Of the total banking outlets, 52% are in semi-urban and rural areas. In addition, we have 3,421 banking outlets managed by the Common Service Centres. Number of employees were at 113,981 as of December 31, 2019 (as against 96,425 as of December 31, 2018).
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
ASSET QUALITY
Gross non-performing assets were at 1.42% of gross advances as on December 31, 2019, (1.2% excluding NPAs in the agricultural segment) as against 1.38% as on September 30, 2019 (1.2% excluding NPAs in the agricultural segment) and 1.38% as on December 31, 2018 (1.1% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.48% of net advances as on December 31, 2019. The Bank held floating provisions of ₹1,451 crore and contingent provisions of ₹1,457 crore as on December 31, 2019. Total provisions (comprising specific, floating, contingent and general provisions) were 119% of the gross non-performing loans as on December 31, 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 December 31, 2019, the Bank held 97.3% stake in HSL.
For the quarter ended December 31, 2019, HSLs total income was ₹214.3 crore as against ₹182.5 crore for the quarter ended December 31, 2018. Profit after tax for the quarter ended December 31, 2019 was ₹94.3 crore, as against ₹70.0 crore in the previous quarter ended December 31, 2018.
For the nine months ended December 31, 2019, HSLs total income was ₹584.8 crore as against ₹565.1 crore for the nine months ended December 31, 2018. Profit after tax for the nine months was ₹250.0 crore, as against ₹223.4 crore for the nine months ended December 31, 2018.
As on December 31, 2019 HSL had 262 branches across 161 cities / towns in the country.
HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-banking finance company (NBFC) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on December 31, 2019, the Bank held 95.3% stake in HDBFSL.
![]() |
NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
As on December 31, 2019, HDBFSLs balance sheet size was at ₹61,055 crore. The assets under management grew by 15.2% to ₹59,178 crore as on December 31, 2019 as against ₹51,352 crore as of December 31, 2018.
For the quarter ended December 31, 2019, HDBFSLs net interest income grew by 29.2 % to ₹1,049.8 crore as against ₹812.6 crore in the previous quarter ended December 31, 2018. Profit after tax for the quarter ended December 31, 2019 was grew by 16.5% to ₹343.1 crore as compared to ₹294.4 crore in the previous quarter ended December 31, 2018.
For the Nine month ended December 31, 2019, HDBFSLs net interest income grew by 22.2% to ₹3,034.2 crore as against ₹2,483.3 crore in the previous nine months ended December 31, 2018. Profit after tax for the Nine month ended December 31, 2019 was ₹770.6 crore compared to ₹820.0 crore in the previous nine month ended December 31, 2018.
Stage 3 loans were at 3.0% of gross loans. Total CAR was at 18.7% with Tier-I CAR at 13.5%.
As on December 31, 2019, HDBFSL had 1,453 branches across 1,058 cities / towns.
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 December 31, 2019 was ₹7,660 crore, up 29.8%, over the quarter ended December 31, 2018. Consolidated advances grew by 19.2% from ₹827,853 crore as on December 31, 2018 to ₹986,606 crore as on December 31, 2019.
The consolidated net profit for the nine months ended December 31, 2019 was ₹19,974 crore, up 24.6%, over the nine months ended December 31, 2018.
Note:
₹ = Indian Rupees
1 crore = 10 million
All figures and ratios are in accordance with Indian GAAP unless otherwise specified.
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NEWS RELEASE | HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618 |
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 1054 (D) / 6652 1000 (B)
Mobile: +91 9819628910
ajit.shetty@hdfcbank.com
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