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The Hindu
14-07-2025
- Business
- The Hindu
After taking singles last year, now positioned to go for the boundaries: HDFC Bank CEO
With FY25 being the first full year of the merger of HDFC Ltd. into HDFC Bank Ltd. and having built upon it, HDFC Bank, India's largest private sector lender, is now eyeing sizeable growth in the future, a top executive said. 'The successful playing out of the merger synergies, the reduction in the credit deposit ratio and the large-scale mobilisation of deposits, all constitute tailwinds for the bank,' Sashidhar Jagdishan, Managing Director and Chief Executive Officer, HDFC Bank Ltd said in the bank's annual report which was released on Monday. 'To use a cricketing analogy, we focused on taking singles in the year that concluded and are now positioned to go for the boundaries,' he said. He said as a merged entity, the HDFC Bank Group has several key subsidiaries with businesses in life as well as general insurance, mutual funds and brokerage, positioning it as a strong financial services conglomerate. 'The mortgage business which was a key component of the merger, has grown from strength to strength and is now the largest in the country. This portfolio has also been a catalyst for increased cross-selling opportunities within the HDFC Bank Group,' he said. Stating that more than 95% of the incremental home loan customers were now opening Current Account Savings Accounts with the bank, with over half of them opting for additional product offerings, he said this had enhanced customer convenience. He said the Bank's NBFC (Non-Banking Financial Company) subsidiary, HDB Financial Services Ltd was recently listed in accordance with regulatory requirements. Mr. Jagdishan said that the bank's cybersecurity measures were focused on ensuring the highest level of protection against cyber threats, with proactive monitoring and automated incident response capabilities, enhanced network visibility and a zero-trust security model. 'We remain focused on being a cyber-resilient, regulatorily compliant and trusted institution that can adapt and succeed in the emerging risk landscape,' he added. He said over the last four plus years, the bank had worked tirelessly on scaling, fortifying and modernising its technology backbone through enhanced investments on resources and collaboration with key partners and the results were now visible. 'Our core now seamlessly supports scalability and resiliency has been built by design. Our focus to further modernise through our 'Hollow the Core' programme is progressing well,' he added. Mr. Jagdishan said in line with digital adoption GenAI would play a central role on 'how we innovate, stay resilient and create value for the future.'
Business Standard
10-05-2025
- Business
- Business Standard
Bank of India Q4 PAT climbs 82% YoY to Rs 2,626 cr; declares dividend of Rs 4.05/sh
Bank of India reported a strong financial performance for the fourth quarter ended March 31, 2025, with its standalone net profit rising 82.49% year-on-year (YoY) to Rs 2,625.91 crore, compared to Rs 1,438.91 crore in Q4 FY24. Total income for the quarter jumped 21.42% YoY to Rs 21,750.80 crore. Profit before tax (PBT) surged 104.9% to Rs 3,547.17 crore, while operating profit rose 37.32% to Rs 4,884.83 crore from Rs 3,557.16 crore in the year-ago period. Net interest income (NII) increased modestly by 2.14% YoY to Rs 6,063 crore, up from Rs 5,936 crore in Q4 FY24. However, the global net interest margin (NIM) declined to 2.91% in Q4 FY25, from 3.30% in Q4 FY24 and 2.98% in Q3 FY25. The banks global business rose 12.02% YoY to Rs 14,82,588 crore as of March 2025. Domestic deposits stood at Rs 7,00,298 crore, up 11.21% YoY. Domestic CASA (Current Account Savings Account) increased 3.86% YoY to Rs 280,284 crore, with the CASA ratio at 40.28%. Global advances grew 13.74% YoY to Rs 666,047 crore, while domestic advances increased 14.45% to Rs 563,550 crore as of March 2025. Asset quality improved significantly, with gross non-performing assets (NPA) reducing to Rs 21,749 crore from Rs 29,183 crore a year ago. The gross NPA ratio dropped by 171 basis points to 3.27%, and net NPA stood at 0.82%, down 40 bps YoY. The provision coverage ratio (PCR) improved to 92.39%, from 90.59% in March 2024. The banks capital adequacy remains robust, with the total Capital to Risk-Weighted Assets Ratio (CRAR) at 17.77% and CET-1 ratio at 14.84% as of March 31, 2025. Bank of India has recommended a dividend of Rs 4.05 per equity share (face value Rs 10) for FY 202425, subject to shareholder approval at the upcoming AGM. The record date for eligibility is 20 June 2025. Bank of India is a public sector bank. The Government of India held a 73.38% stake in the bank as of 31st March 2025. Shares of Bank of India advanced 2.27% to Rs 110.20 on Friday, 9 May 2025.
