Overview
- HDFC Bank’s standalone net profit rose 10.8% year-on-year to Rs 18,641 crore with other income up 25%, while core NIM eased to 3.27% and asset quality improved to a 1.24% GNPA ratio.
- ICICI Bank posted a 5.2% rise in profit to Rs 12,359 crore as provisions fell to Rs 914 crore; NII grew 7.4%, NIM stood at 4.30%, and GNPA improved to 1.58%.
- Punjab National Bank’s profit increased 14% to Rs 4,903 crore, aided by a Rs 639 crore provision write-back, even as NII was flat and domestic NIM contracted to 2.72%; GNPA improved to 3.45%.
- IndusInd Bank swung to a consolidated net loss of Rs 436 crore after provisions jumped about 50% to Rs 2,631 crore, with slight sequential improvement in NPAs and a lower quarterly NIM of 3.34%.
- Elsewhere, Federal Bank’s profit declined 9.51% to about Rs 992 crore on higher provisions and a marginal NIM compression to 3.06%, while IDBI Bank’s profit nearly doubled to Rs 3,627 crore on gains from selling part of its NSDL stake.