UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of July, 2019

Commission File Number 001-15216

 

 

HDFC BANK LIMITED

(Translation of registrant’s name into English)

 

 

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F  ☒            Form 40-F  ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):    Yes  ☐    No  ☒

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):    Yes  ☐    No  ☒

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.    Yes  ☐    No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- Not Applicable                    .

 

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

				HDFC BANK LIMITED
				(Registrant)
Date: 23rd July, 2019				By		/s/ Augustine Quadros
						Name: Augustine Quadros
						Title: Senior Executive Vice President - Legal & Secretarial

EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form 6-K.

Exhibit    I

Description

Communication dated 22^nd July, 2019 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about Financial Result of the Bank for quarter ended 30^th June, 2019.

Exhibit I

July 22, 2019

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sirs,

Re: Unaudited Financial Results of the Bank for the quarter ended June 30, 2019

We enclose herewith the Unaudited Standalone and Consolidated Financial Results of the Bank for the first quarter ended June 30, 2019, segment reporting, Press Release and the report of the Statutory Auditor in this regard. The results were duly approved by the Board of Directors at its meeting held on July 20, 2019.

Kindly take the same on your records.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Augustine Quadros

Senior Executive Vice President- Legal & Secretarial

Encl: As above

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019

 

																(₹ in lacs)
				Quarter ended												Year ended 31.03.2019
				30.06.2019				31.03.2019				30.06.2018
Particulars				Unaudited				Audited (Refer note 4)				Unaudited				Audited
1		Interest Earned (a)+(b)+(c)+(d)			2739159				2633325				2254898				9897205
		a) Interest / discount on advances / bills			2180469				2101949				1739073				7754419
		b) Income on Investments			524779				504692				458929				1999746
		c) Interest on balances with Reserve Bank of India and other inter bank funds			17520				11150				33238				63570
		d) Others			16391				15534				23658				79470
2		Other Income			497025				487121				381806				1762587
3		Total Income (1)+(2)			3236184				3120446				2636704				11659792
4		Interest Expended			1409734				1324376				1173541				5072883
5		Operating Expenses (i)+(ii)			711726				711710				598388				2611937
		i) Employees cost			221738				207440				181051				776176
		ii) Other operating expenses			489988				504270				417337				1835761
6		Total Expenditure (4)+(5) (excluding Provisions and Contingencies)			2121460				2036086				1771929				7684820
7		Operating Profit before Provisions and Contingencies (3)-(6)			1114724				1084360				864775				3974972
8		Provisions (other than tax) and Contingencies			261366				188922				162937				755008
9		Exceptional Items			—				—				—				—
10		Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)			853358				895438				701838				3219964
11		Tax Expense			296542				306926				241694				1112150
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			556816				588512				460144				2107814
13		Extraordinary items (net of tax expense)			—				—				—				—
14		Net Profit / (Loss) for the period (12)-(13)			556816				588512				460144				2107814
15		Paid up equity share capital (Face Value of ₹2/- each)			54656				54466				52083				54466
16		Reserves excluding revaluation reserves															14866166
17		Analytical Ratios
		(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil
		(ii) Capital Adequacy Ratio			16.9	%			17.1	%			14.6	%			17.1	%
		(iii) Earnings per share (EPS) (₹) (Face Value of ₹2/- each)
		(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			20.4				21.6				17.7				78.6
		(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			20.2				21.4				17.5				77.9
		(iv) NPA Ratios
		(a) Gross NPAs			1176895				1122416				953862				1122416
		(b) Net NPAs			356718				321452				290710				321452
		(c) % of Gross NPAs to Gross Advances			1.40	%			1.36	%			1.33	%			1.36	%
		(d) % of Net NPAs to Net Advances			0.43	%			0.39	%			0.41	%			0.39	%
		(v) Return on assets (average) - not annualized			0.46	%			0.51	%			0.44	%			1.90	%

Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:

 

																(₹ in lacs)
Particulars				Quarter ended												Year ended 31.03.2019
				30.06.2019				31.03.2019				30.06.2018
				Unaudited				Audited (Refer note 4)				Unaudited				Audited
1		Segment Revenue
a)		Treasury			629192				590094				528532				2357648
b)		Retail Banking			2492929				2401535				2040059				8922234
c)		Wholesale Banking			1505961				1457003				1237905				5456354
d)		Other Banking Operations			442965				424596				327863				1529943
e)		Unallocated			66				—				—				5278
		Total			5071113				4873228				4134359				18271457
		Less: Inter Segment Revenue			1834929				1752782				1497655				6611665
		Income from Operations			3236184				3120446				2636704				11659792
2		Segment Results
a)		Treasury			78153				59218				5045				130576
b)		Retail Banking			306714				317451				314468				1179627
c)		Wholesale Banking			332143				372483				315585				1422412
d)		Other Banking Operations			179647				191256				117238				679153
e)		Unallocated			(43299	)			(44970	)			(50498	)			(191804	)
		Total Profit Before Tax			853358				895438				701838				3219964
3		Segment Assets
a)		Treasury			35599098				34876621				30170308				34876621
b)		Retail Banking			44127240				42879092				38606584				42879092
c)		Wholesale Banking			40735586				40874972				34681446				40874972
d)		Other Banking Operations			5405812				5085471				3994672				5085471
e)		Unallocated			657549				737915				587899				737915
		Total			126525285				124454071				108040909				124454071
4		Segment Liabilities
a)		Treasury			4383589				6143885				5869806				6143885
b)		Retail Banking			76191655				73229496				62955796				73229496
c)		Wholesale Banking			27439197				27188713				25546051				27188713
d)		Other Banking Operations			542429				535706				429847				535706
e)		Unallocated			2404606				2435639				2472402				2435639
		Total			110961476				109533439				97273902				109533439
5		Capital Employed
		(Segment Assets-Segment Liabilities)
a)		Treasury			31215509				28732736				24300502				28732736
b)		Retail Banking			(32064415	)			(30350404	)			(24349212	)			(30350404	)
c)		Wholesale Banking			13296389				13686259				9135395				13686259
d)		Other Banking Operations			4863383				4549765				3564825				4549765
e)		Unallocated			(1747057	)			(1697724	)			(1884503	)			(1697724	)
		Total			15563809				14920632				10767007				14920632

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI.

 

Notes :

1	Statement of Assets and Liabilities as at June 30, 2019 is given below:

 

										(₹ in lacs)
Particulars		As at 30.06.2019				As at 30.06.2018				As at 31.03.2019
CAPITAL AND LIABILITIES		Unaudited				Unaudited				Audited
Capital			54656				52083				54466
Reserves and Surplus			15509153				10714924				14866166
Deposits			95455371				80578532				92314093
Borrowings			10089412				12102431				11708513
Other Liabilities and Provisions			5416693				4592939				5510833
Total			126525285				108040909				124454071
ASSETS
Cash and Balances with Reserve Bank of India			5771133				3958878				4676362
Balances with Banks and Money at Call and Short notice			2645660				1190508				3458401
Investments			29850324				27567865				29058788
Advances			82972981				70864869				81940122
Fixed Assets			402627				357615				403001
Other Assets			4882560				4101174				4917397
Total			126525285				108040909				124454071

 

2

The above financial results have been approved by the Board of Directors at its meeting held on July 20, 2019. The financial results for the quarter ended June 30, 2019 have been subjected to a “Limited Review” by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the quarter ended June 30, 2018 and the year ended March 31, 2019 were subjected to limited review and audit respectively by another firm of chartered accountants.

3	The Bank has applied its significant accounting policies in the preparation of these financial results consistent with those followed in the annual financial statements for the year ended March 31, 2019.

4	The figures for the quarter ended March 31, 2019 are the balancing figures between audited figures in respect of the financial year 2018-19 and the published year to date figures upto December 31, 2018.

5	The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 have approved the sub-division (split) of one equity share of the Bank from nominal value of ₹2/- each into 2 equity shares of nominal value of ₹1/- each. The record date for the sub-division is September 20, 2019.

6

The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 have approved a dividend of ₹15 per share (previous year : ₹13 per share) for the year ended March 31, 2019. The Board of Directors at its meeting held on July 20, 2019 has declared a special interim dividend of ₹5 per share to commemorate 25 years of the Bank’s operations. Effect of the said dividends has been reckoned in determining capital funds in the computation of the capital adequacy ratio.

7	During the quarter ended June 30, 2019, the Bank allotted 95,05,661 shares pursuant to the exercise of options under the approved employee stock option schemes.

8	Other income relates to income (including commission) from non-fund based banking activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, dividends from subsidiaries and recoveries from accounts previously written off.

9	Other operating expenses include commission paid to sales agents of ₹719.83 crore (previous period: ₹737.22 crore) for the quarter ended June 30, 2019.

10	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification.

11	₹10 lac = ₹1 million

₹10 million = ₹1 crore

 

Place : Mumbai				Aditya Puri
Date : July 20, 2019				Managing Director

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax: 022- 2496 0739

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2019

 

				(₹ in lacs)
				Quarter ended												Year ended 31.03.2019
				30.06.2019				31.03.2019				30.06.2018
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Interest Earned (a)+(b)+(c)+(d)			2917645				2804505				2397867				10516075
		a) Interest / discount on advances / bills			2356050				2272760				1881008				8373616
		b) Income on Investments			525042				502759				458945				1992475
		c) Interest on balances with Reserve Bank of India and other inter bank funds			18319				11928				33490				66062
		d) Others			18234				17058				24424				83922
2		Other Income			514800				521543				402139				1894705
3		Total Income (1)+(2)			3432445				3326048				2800006				12410780
4		Interest Expended			1497715				1406156				1241337				5371269
5		Operating Expenses (i)+(ii)			759813				755210				633806				2769476
		i) Employees cost			301745				272818				246813				1045115
		ii) Other operating expenses			458068				482392				386993				1724361
6		Total Expenditure (4)+(5) (excluding Provisions & Contingencies)			2257528				2161366				1875143				8140745
7		Operating Profit before Provisions and Contingencies (3)-(6)			1174917				1164682				924863				4270035
8		Provisions (Other than tax) and Contingencies			291434				206352				182870				838218
9		Exceptional Items			—				—				—				—
10		Profit / (Loss) from ordinary activities before tax (7)-(8)-(9)			883483				958330				741993				3431817
11		Tax Expense			314403				327278				259980				1187255
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			569080				631052				482013				2244562
13		Extraordinary items (net of tax expense)			—				—				—				—
14		Net Profit / (Loss) for the period (12)-(13)			569080				631052				482013				2244562
15		Less: Share of Profit / (Loss) of minority shareholders			1474				971				1178				11318
16		Consolidated Net Profit / (Loss) for the period (14)-(15)			567606				630081				480835				2233244
17		Paid up equity share capital (Face Value of ₹2/- each)			54656				54466				52083				54466
18		Reserves excluding revaluation reserves															15312800
19		Analytical Ratios
		(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil
		(ii) Earnings per share (EPS) (₹) (Face Value of ₹2/- each)
		(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			20.8				23.2				18.5				83.3
		(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			20.6				22.9				18.3				82.5

Consolidated Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments is as under:

 

																(₹ in lacs)
				Quarter ended												Year ended 31.03.2019
				30.06.2019				31.03.2019				30.06.2018
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Segment Revenue
a)		Treasury			629192				590094				528532				2357648
b)		Retail Banking			2492929				2401535				2040059				8922234
c)		Wholesale Banking			1505961				1457003				1237905				5456354
d)		Other banking operations			639226				630197				491165				2280931
e)		Unallocated			66				—				—				5278
		Total			5267374				5078829				4297661				19022445
		Less: Inter Segment Revenue			1834929				1752781				1497655				6611665
		Income from Operations			3432445				3326048				2800006				12410780
2		Segment Results
a)		Treasury			78153				59218				5045				130576
b)		Retail Banking			306714				317451				314468				1179627
c)		Wholesale Banking			332143				372483				315585				1422412
d)		Other banking operations			209772				254148				157393				891006
e)		Unallocated			(43299	)			(44970	)			(50498	)			(191804	)
		Total Profit Before Tax and Minority Interest			883483				958330				741993				3431817
3		Segment Assets
a)		Treasury			35599098				34876621				30170308				34876621
b)		Retail Banking			44127240				42879092				38606584				42879092
c)		Wholesale Banking			40735586				40874972				34681446				40874972
d)		Other banking operations			10385483				9911971				7994582				9911971
e)		Unallocated			657548				737915				587899				737915
		Total			131504955				129280571				112040819				129280571
4		Segment Liabilities
a)		Treasury			4383589				6143885				5869806				6143885
b)		Retail Banking			76191655				73229496				62955796				73229496
c)		Wholesale Banking			27439197				27188713				25546051				27188713
d)		Other banking operations			5018454				4865392				4050476				4865392
e)		Unallocated			2404605				2435640				2472402				2435640
		Total			115437500				113863126				100894531				113863126
5		Capital Employed
		(Segment Assets - Segment Liabilities)
a)		Treasury			31215509				28732736				24300502				28732736
b)		Retail Banking			(32064415	)			(30350404	)			(24349212	)			(30350404	)
c)		Wholesale Banking			13296389				13686259				9135395				13686259
d)		Other banking operations			5367029				5046578				3944106				5046578
e)		Unallocated			(1747057	)			(1697724	)			(1884503	)			(1697724	)
		Total			16067455				15417445				11146288				15417445

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI.

 

Notes:

1	Consolidated Statement of Assets and Liabilities as at June 30, 2019 is given below:

 

										(₹ in lacs)
Particulars		As at 30.06.2019				As at 30.06.2018				As at 31.03.2019
CAPITAL AND LIABILITIES		Unaudited				Unaudited				Audited
Capital			54656				52083				54466
Reserves and Surplus			15961900				11058587				15312800
Minority Interest			50899				35618				50179
Deposits			95377430				80535395				92250268
Borrowings			14367983				15531734				15773278
Other Liabilities and Provisions			5692087				4827402				5839580
Total			131504955				112040819				129280571
ASSETS
Cash and balances with Reserve Bank of India			5775699				3961258				4680459
Balances with Banks and Money at Call and Short notice			2751460				1237596				3501305
Investments			29462525				27152152				28691768
Advances			88093871				75138575				86922266
Fixed Assets			421257				377431				421984
Other Assets			5000143				4173807				5062789
Total			131504955				112040819				129280571

 

2

The above financial results represent the consolidated financial results for HDFC Bank Limited and its subsidiaries constituting the ‘Group’. These financial results have been approved by the Board of Directors of the Bank at its meeting held on July 20, 2019. The financial results for the quarter ended June 30, 2019 have been subjected to a “Limited Review” by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the year ended March 31, 2019 were audited by another firm of chartered accountants.

3	The above financial results are prepared in accordance with Section 133 of Companies Act, 2013 read with relevant rules issued thereunder and Regulation 33 of Securities and Exchange Board of India (SEBI) (Listing Obligation and Disclosure Requirements, 2015).

4	The Group has applied its significant accounting policies in the preparation of these financial results consistent with those followed in the annual financial statements for the year ended March 31, 2019.

5

The figures for the quarter ended March 31, 2019 are the balancing figures between audited figures in respect of the financial year 2018-19 and the unaudited year to date figures upto December 31, 2018. The financial results for the quarter ended June 30, 2018 are not reviewed / audited by the statutory auditors.

6

In accordance with RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Bank’s website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. The disclosures have not been subjected to audit or review by the statutory auditors.

7	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification.

8	₹10 lac = ₹1 million

₹10 million = ₹1 crore

 

Place : Mumbai Date : July 20, 2019				Aditya Puri Managing Director

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER ENDED JUNE 30, 2019

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended June 30, 2019, at their meeting held in Mumbai on Saturday, July 20, 2019. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended June 30, 2019

The Bank’s total income for the quarter ended June 30, 2019 at ₹32,361.8 crore grew by 22.7% from ₹26,367.0 crore for the quarter ended June 30, 2018. Net revenues (net interest income plus other income) increased by 24.8% to ₹18,264.5 crore for the quarter ended June 30, 2019 from ₹14,631.6 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2019 grew by 22.9% to ₹13,294.3 crore, from ₹10,813.6 crore for the quarter ended June 30, 2018, driven by asset growth and a core net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) at ₹4,970.3 crore was 27.2% of the net revenues for the quarter ended June 30, 2019 and grew by 30.2% over ₹3,818.1 crore in the corresponding quarter ended June 30, 2018. The four components of other income for the quarter ended June 30, 2019 were fees & commissions of ₹3,551.6 crore (₹3,171.0 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹576.7 crore (₹499.6 crore for the corresponding quarter of the previous year), gain on revaluation / sale of investments of ₹212.0 crore (loss of ₹283.2 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹630.0 crore (₹430.7 crore for the corresponding quarter of the previous year).

Operating expenses for the quarter ended June 30, 2019 were ₹7,117.3 crore, an increase of 18.9% over ₹5,983.9 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 39.4% as against 40.1% for the corresponding quarter ended June 30, 2018.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

 

Provisions and contingencies for the quarter ended June 30, 2019 were ₹2,613.7 crore as against ₹1,629.4 crore for the quarter ended June 30, 2018. The key components therein for the quarter ended June 30, 2019 were specific loan loss and contingent provisions of ₹2,413.5 crore (as against ₹1,432.2 crore for the corresponding quarter of the previous year) and general provisions ₹200.2 crore (as against ₹183.2 crore for the corresponding quarter of the previous year). General provisions include additional provisions of ₹85.9 crore for standard advances to the NBFC / HFC sector. Profit before tax (PBT) for the quarter ended June 30, 2019 was up 21.6% to ₹8,533.6 crore. After providing ₹2,965.4 crore for taxation, the Bank earned a net profit of ₹5,568.2 crore, an increase of 21.0% over the quarter ended June 30, 2018.

Balance Sheet: As of June 30, 2019

Total balance sheet size as of June 30, 2019 was ₹1,265,253 crore as against ₹1,080,409 crore as of June 30, 2018.

Total deposits as of June 30, 2019 were ₹954,554 crore, an increase of 18.5% over June 30, 2018. CASA deposits grew by 12.8% with savings account deposits at ₹253,338 crore and current account deposits at ₹125,663 crore. Time deposits were at ₹575,553 crore, an increase of 22.5% over the previous year, resulting in CASA deposits comprising 39.7% of total deposits as of June 30, 2019. The Bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 126%, well above the regulatory requirement.

Total advances as of June 30, 2019 were ₹829,730 crore, an increase of 17.1% over June 30, 2018. Advances to the vehicle loan segment, where sales volumes have seen some moderation, grew at 8.3% over the previous year. Domestic advances grew by 17.9% over June 30, 2018. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 16.5% and domestic wholesale loans grew by 19.6%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 54:46. Overseas advances constituted 3% of total advances.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

 

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 16.9% as on June 30, 2019 (14.6% as on June 30, 2018) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 15.6% as of June 30, 2019 compared to 13.1% as of June 30, 2018. Common Equity Tier 1 Capital ratio was at 14.8% as of June 30, 2019. Risk-weighted Assets were at ₹965,635 crore (as against ₹844,894 crore as at June 30, 2018).

DIVIDEND

The Board of Directors has declared a special interim dividend of ₹5 per equity share of ₹2 to commemorate 25 years of the Bank’s operations.

NETWORK

As of June 30, 2019, the Bank’s distribution network was at 5,130 banking outlets and 13,395 ATMs across 2,764 cities / towns as against 4,804 banking outlets and 12,808 ATMs across 2,700 cities / towns as of June 30, 2018. Of the total banking outlets, 53% are in semi-urban and rural areas. Number of employees were at 104,154 as of June 30, 2019 (as against 89,550 as of June 30, 2018).

ASSET QUALITY

Gross non-performing assets were at 1.40% of gross advances as on June 30, 2019 (1.17% excluding NPAs in the agricultural segment) as against 1.33% as on June 30, 2018 (1.09% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.4% of net advances as on June 30, 2019. The Bank held floating provisions of ₹1,451 crore as on June 30, 2019. Total provisions (comprising specific provisions, general provisions and floating provisions) were 115% of the gross non-performing loans as on June 30, 2019.

SUBSIDIARIES

The financial results of the Bank’s subsidiary companies have been prepared in accordance with notified Indian Accounting Standards (‘Ind-AS’).

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on June 30, 2019, the Bank held 97.3% stake in HSL.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

 

For the quarter ended June 30, 2019, HSL’s total income was ₹189.3 crore as against ₹193.5 crore for the quarter ended June 30, 2018. Profit after tax before other comprehensive income for the quarter was ₹66.5 crore, as against ₹72.6 crore in the previous quarter.

As on June 30, 2019 HSL had 269 branches across 161 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-bank finance company (‘NBFC’) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on June 30, 2019, the Bank held 95.5% stake in HDBFSL.

As on June 30, 2019, HDBFSL’s balance sheet size was at ₹58,833 crore. The gross loan book grew by 22.7% to ₹56,287 crore as on June 30, 2019 (as against ₹45,889 crore as of June 30, 2018).

For the quarter ended June 30, 2019, HDBFSL’s net interest income grew by 12.9% to ₹962.7 crore (as against ₹852.4 crore in the previous quarter). Profit after tax before other comprehensive income for the quarter ended June 30, 2019 was ₹221.9 crore compared to ₹228.0 crore in the previous quarter.

As on June 30, 2019, HDBFSL had 1,381 branches across 996 cities / towns.

Gross impaired loans were at 2.3% of gross loans and net impaired loans were at 1.7% of net loans as on June 30, 2019. Total CAR was at 18.1% with Tier-I CAR at 12.5%.

CONSOLIDATED FINANCIAL RESULTS

The Bank’s consolidated financial results include the financial results of its subsidiary companies based on the recognition and measurement principles as per Indian GAAP.

The consolidated net profit for the quarter ended June 30, 2019 was ₹5,676 crore, up 18.0%, over the quarter ended June 30, 2018. Consolidated advances grew by 17.2% from ₹751,386 crore as on June 30, 2018 to ₹880,939 crore as on June 30, 2019.

Note:

₹ = Indian Rupees

1 crore = 10 million

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013.

 

All figures and ratios are in accordance with Indian GAAP unless otherwise specified.

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.

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Neeraj Jha

Head, Corporate Communication

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1308 (D) / 6652 1000 (B)

Fax: 91 - 22 - 2490 3168

Mobile: +91 93236 20828

neeraj.jha@hdfcbank.com

For investor queries please contact:

Ajit Shetty

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1083 (D) / 6652 1000 (B)

Mobile: +91 74983 51730

ajit.shetty@hdfcbank.com