Deposit Growth and Market Share
HDFC Bank reported a healthy 16% year-on-year growth in average deposits, continuing to gain market share despite challenging conditions.
Asset Quality and Contingent Provisions
The bank maintained a robust asset quality with retail GNPA at 82 basis points, consistent over the year. A contingent provision of INR 1,700 crores was added, enhancing financial resilience.
HDB Financial Services IPO
The successful listing of HDB Financial Services was completed, and the bank diluted some stake with stocks listed on July 2nd.
Interim Dividend and Bonus Share Issue
The Board announced an interim dividend of INR 5 per share and recommended a 1:1 bonus share issue, marking a significant reward for shareholders.
Strong Employee Growth
The bank added 4,000 employees in the quarter, primarily driven by branch openings and increased sales force.