HDFC Bank net  jumps over 12% to Rs 18,155 crore on one time income

The cost-to-income ratio, excluding gains from the HDB Financial IPO, stood at 39.6 percent.

Gross advances rose 6.7 percent to Rs 26.53 trillion, while total deposits rose 16.2 percent to Rs 27.64 trillion.

Of the total liabilities the Casa ratio stood at 33.9, down from 38.2 and  savings account deposits grew by Rs 6.39 trillion and current account deposits by Rs 2.98 trillion.

Other income jumped sharply to Rs 21,730 crore, supported by gains from the HDB Financial IPO. The bank netted a pre-tax gain of Rs 9,128 crore from the offer for sale of shares in the Rs 12500 crore by way of an offer for sale. It also included Rs 75.9 crore from fees and commissions, Rs 16.3 crore from forex and derivatives, and Rs 101.1 crore from trading and mark-to-market gains. Following the IPO of HDB Financial, bank’s stake in the company declined to 74.19 percent from 94.32 percent.

Insurance subsidiaries contributed Rs 1,645 crore in profit before tax.

The gross non-performing asset ratio stood at 1.40, while the net NPA ratio was 0.47 both slightly higher than the year-ago levels.

Provisions  rose to Rs 14,442 crore, including Rs 9,000 crore in floating provisions and Rs 1,700 crore in contingent provisions.

The bonus issue, subject to shareholder and regulatory approvals, will entitle shareholders to one bonus share for every one held, with the record date set as August 27.