HDFC Bank’s Q4 2019 Profit Rallies Up; Board Recommends Dividend

The HDFC Bank announced earnings results and accordingly the bank's profits has surged up by 22.63 percent year-on-year (YoY) to touch Rs 5,885.12 crore for Q4 2019, beating analyst's estimate of Rs 5,805 crore.

The country's second largest lender has reported a profit of Rs 4,799.28 crore during Q4 2018.

The Net Interest Income (NII) grew by 22.8 percent YoY to touch Rs 13,089.50 crore. The rise in the average asset growth helped the bank to improve its NII by 19.8 percent.

Provisions for the Q4 2019 improved and stood at Rs 1,889.20 crore, up from the previous record of Rs 1,541.10 crore during Q4 2018.

Net NPA for HDFC stood at 0.4 percent.

The Board of Directors have recommended a dividend of Rs 15 per share for fiscal 2019 as against the previous years dividend of Rs 13 per share.

The scrips of the HDFC Bank closed at Rs 2,290.15 per piece, down by 0.63% on April 18, 2019.