Page 29 - Banking Finance MAY 2017

PRESS RELEASE

HDFC Bank limited declares financial results for the quarter and year

ended march 31, 2017

The Board of Directors of HDFC Bank Limited approved the of the previous year), gain on revaluation / sale of
Bank's (Indian GAAP) results for the quarter ended March investments of Rs 180.4 crore (Rs115.5 crore in the
31, 2017 and the audited results for the full year ended corresponding quarter of the previous year) and
March 31, 2017 at their meeting held in Mumbai on Friday, miscellaneous income including recoveries of Rs 386.2 crore
April 21, 2017. (Rs 295.2 crore for the corresponding quarter of the
previous year).
Standalone Financial Results: Operating expenses for the quarter ended March 31, 2017
Profit & Loss Account: Quarter ended March 31, were Rs 5,222.0 crore, an increase of 13.9% over Rs 4,584.3
2017 crore during the corresponding quarter of the previous year.
The Bank's total income for the quarter ended March 31, The core cost-to-income ratio for the quarter was 42.4%
as against 44.9% for the corresponding quarter ended
2017 was Rs 21,560.7 crore, up from Rs 18,862.6 crore for
March 31, 2016.
the quarter ended March 31, 2016. Net revenues (net
interest income plus other income) increased by 21.1% to Provisions and contingencies for the quarter ended March
Rs 12,501.4 crore for the quarter ended March 31, 2017 31, 2017 were Rs 1,261.8 crore (consisting of specific loan
as against Rs 10,319.2 crore for the corresponding quarter loss provisions Rs 977.9 crore, general provisions Rs 280.3
of the previous year. Net interest income (interest earned crore, and other provisions Rs 3.6 crore) as against Rs 662.5
less interest expended) for the quarter ended March 31, crore (consisting of specific loan loss provisions Rs 490.3
2017 grew by 21.5% to Rs 9,055.1 crore from Rs 7,453.3 crore, general provisions Rs 161.1 crore and other provisions
crore for the quarter ended March 31, 2016 driven by Rs 11.1 crore) for the corresponding quarter ended March
average assets growth of 19.0% and a core net interest 31, 2016. The specific loan loss provisions for the quarter
margin for the quarter of 4.3%. ended March 31, 2017 include provisions on accounts that
Other income (non-interest revenue) at Rs 3,446.3 crore would have turned nonperforming (NPA) during the quarter
was 27.6% of the net revenues for the quarter ended ended December 31, 2016, but were classified as NPA during
March 31, 2017 and grew by 20.3% over Rs 2,865.9 crore the quarter ended March 31, 2017, in line with the
in the corresponding quarter ended March 31, 2016. The additional 60/90 day dispensation provided by the Reserve
four components of other income for the quarter ended Bank of India vide its circulars dated November 21, 2016
and December 28, 2016.
March 31, 2017 were fees & commissions of Rs 2,523.0
crore (Rs 2,172.4 crore in the corresponding quarter of the After providing Rs 2,027.5 crore for taxation, the Bank
previous year), foreign exchange & derivatives revenue of earned a net profit of Rs 3,990.1 crore, an increase of
Rs 356.7 crore (Rs282.8 crore for the corresponding quarter 18.3% over the quarter ended March 31, 2016.

IDBI Bank revises Deposit Rates
IDBI Bank has reduced the interest rates on Retail Term Deposit (RTD) by 50 bps for the maturity bucket '31 days upto
2 year' and by 75 bps under all maturity buckets from 'above 2 years onwards upto 20 years'. The mark-up for Senior
Citizens at 50 bps over the Card rate would be available for deposits of maturity of 1 year and above. The revision is
effective April 5, 2017.

Central Bank Of India Revises Interest Rates On FCNR-B DEPOSITS

w.e.f. 01.04.2017

The Bank now offers interest of 3.11 % for USD Deposit of 5 Years, 1.91 % for GBP Deposit of 5 Years, 1.24 % for EURO
Deposit of 5 Years, 2.53 % for CANADIAN DOLLAR Deposit of 5 Years & 3.60 % for AUSTRALIAN DOLLAR Deposit of 5
Years. These rates are revised based on the rates announced by FEDAI on 31/03/2017 & is valid till 30/04/2017.

BANKING FINANCE | MAY | 2017 | 29

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