HDFC Bank CAR at 12.1%, Net NPAs at 0.4%

HDFC Bank Ltd has announced the following Business Updates:

Despite the higher interest rate environment and the branch network remaining unchanged, the Bank’s business momentum remained healthy in both its retail and wholesale customer franchises. This has been enabled by the bank’s strong positioning as a "top 3" player in most products that the bank participates in, increased sales staffing, productivity gains, as well as higher penetration and cross sell to the Bank’s customer base.

Portfolio quality as of September 30, 2006 remained healthy with net non performing assets at 0.4% of total customer assets. Capital Adequacy Ratio (CAR) was 12.1% against the regulatory minimum of 9%. Tier I CAR was at 8.2%. During the quarter ended September 30, 2006, the Bank has raised Rs 241 crores of subordinated debt qualifying as Lower Tier II capital, Rs 300 crores of Upper Tier II capital and Rs 200 crores of perpetual debt qualifying as Hybrid Tier I capital.

Note:
(i) Rs = Indian Rupees
(ii) 1 crore = 10 million
(iii) All figures and ratios are in accordance with Indian GAAP except where specifically mentioned.

Source : Equity Bulls

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