HDFC Banks net profit grew 20% in third quarter ended December to Rs.5586 crores from Rs.4642 crores a year ago, on back of growth in net interest income (NII) and treasury gains, results announced on Saturday showed.NII, which is difference interest gained on loans and interest paid on deposits, grew by 22% to Rs.12,577 crore from Rs.10,314 crore a year ago, driven by loan growth of 24% and net interest margin (NIM) of 4.3%, bank said.Asset quality remained largely stable with gross non-performing asset (GNPA) reporting a marginal increase to 1.38 per cent in December quarter, against 1.33 per cent in September quarter and 1.29 per cent a year ago.
Net NPA remained at 0.42%, a two basis point dip from year ago quarters 0.44%.
One basis point is 0.01 percentage point.The bank's total provisions increased to Rs.2211 crore, a spike of 64% from last years Rs.1,351 crores.
Total provisions included Rs 1451 crore of floating provisions.Total balance sheet size stood at Rs 11.6 lakh crore as against Rs 9.4 lakh crore in same period last year.Both retail and wholesale loans grew by an identical 24%.The banks shares had closed at Rs 2,131.20 on Friday, up 0.10% against their previous close.