HDFC Bank Q3 results updates: Profit rises 33%, beats street estimates

The lender’s current account savings account deposits, which are the cheapest source of funds, increased 9.5% to ₹5.7 lakh crore.

The gross bad loans or non-performing assets stood at 1.26% of the total loan book, compared to 1.23% in December 2022.

In the December quarter, the lender’s net profit grew 33% year-on-year to ₹16,370 crore.

The strong profit growth was supported by a 23.9% rise in the net interest income to ₹28,470 crore.

Shares of India’s largest private bank are trading flat ahead of the December quarter results.

However, shares have been on an upward trajectory, rising around 8% in the last two months.

India’s largest private bank by market capitalisation is expected to witness strong growth in deposits amid attractive interest rates, according to experts. However, current account savings account deposits could marginally drop due to interest in term deposits.