HDFC Bank - the country's largest private lender will announce its July-September quarter results for the financial year 2021-22 tomorrow, Saturday (October 16).
Corporate earnings for the September-ended quarter have started coming in. HDFC Bank and three major IT companies are set to announce their results this week. India and US inflation data will also be keenly watched.
After facing five instances of downtimes during the past 28 months, the country’s largest private sector lender HDFC Bank, which was pulled up by the banking regulator for several outages, has decided to implement cutting-edge technology across all lines of businesses. In a letter to employees, Sashi Jagdishan, MD & CEO of the bank said, “.we have embarked on a scale-changing technology adoption and transformation agenda to help drive our ambitious future growth plans”. He further went on to say that, in the current financial year, there will be some pandemic-related challenges for sure. But, the broad macro opportunities continue to present themselves across the retail, MSME and Corporate Banking for the bank across geographies’ like semi-urban and rural markets. Apart from this, Jagdishan assured the employees that this year too the bank will follow its normal practice in so far as the compensation cycle is concerned.
HDFC Bank FY21 profit rises 18.5% to Rs 31,116.53 crore; no dividend amid COVID uncertainty
Amid the second wave of COVID-19 cases, HDFC Bank said that its board of directors has decided not to offer a final dividend for FY21 in view of the persisting uncertainty
BusinessToday.In | April 17, 2021 | Updated 17:53 IST
HDFC bank posted an 18.5 per cent increase in its net profit for the financial year ended March 31, 2021. The private sector lender registered standalone net profit of Rs 31,116.53 crore during the FY21, as compared to Rs 26,257.32 crore in FY20, according to a regulatory filing.
HDFC bank earned Rs 146,063.12 crore during the period under review, as against Rs 138,073.47 crore in the previous fiscal. Net interest income at the end of FY21 stood at Rs 64,879.57 crore, as compared to Rs 56,186.25 crore in FY20, a jump of 15.47 per cent. Net revenue, the sum of net interest income and other income, stood at Rs 90,084.5 crore during the fiscal under review, as against