Overview
- HDFC Bank reported standalone profit of Rs 18,653.75 crore, up 11.5% year on year, with consolidated profit at Rs 19,807 crore and asset quality improving to a gross NPA ratio of 1.24% and net NPA of 0.42%.
- ICICI Bank’s standalone profit fell about 4% to Rs 11,318 crore after an RBI-directed Rs 1,283 crore standard provision on certain agricultural priority-sector loans, though core income rose and gross NPA improved to 1.53%.
- UCO Bank posted about Rs 739–740 crore in net profit, up roughly 16% year on year, as net interest income grew 11.27% and gross and net NPA ratios declined to 2.41% and 0.36%, respectively.
- Punjab & Sind Bank’s net profit increased 19% to Rs 336 crore, helped by lower bad loans with gross NPA at 2.6% and net NPA at 0.74% and a stronger provision coverage ratio.
- Across the sector, banks highlighted stronger credit demand supported by the RBI’s 100 bps CRR reduction that released about Rs 2.5 lakh crore, with some offsetting NIM pressure through fee and other income, and YES Bank reported a 55% profit rise to Rs 952 crore.