# EDGAR Filing Document

**Accession Number:** 0001144967
**File Stem:** 0001193125-23-008826
**Filing Date:** 2023-1
**Character Count:** 52192
**Document Hash:** 7fa43213e1b96b8ad3e36b4ae0bcd496
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-008826.hdr.sgml**: 20230117

**ACCESSION NUMBER**: 0001193125-23-008826

**CONFORMED SUBMISSION TYPE**: 6-K

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20230114

**FILED AS OF DATE**: 20230117

**DATE AS OF CHANGE**: 20230117

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HDFC BANK LTD
- **CENTRAL INDEX KEY:** 0001144967
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** K7
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 6-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15216
- **FILM NUMBER:** 23530088

**BUSINESS ADDRESS:**
- **STREET 1:** 'HDFC BANK HOUSE', SENAPATI BAPAT ROAD
- **STREET 2:** LOWER PAREL (WEST), MUMBAI INDIA
- **CITY:** INDIA
- **STATE:** K7
- **ZIP:** 400013
- **BUSINESS PHONE:** 91224957676

**MAIL ADDRESS:**
- **STREET 1:** KAMALA MILLS COMPOUND
- **STREET 2:** SENAPATI BAPAT MARG, LOWER PAREL
- **CITY:** MUMBAI INDIA
- **STATE:** K7
- **ZIP:** 400013

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**Form 6-K** 

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**Report of Foreign Private Issuer** 

**Pursuant to Rule 13a-16 or 15d-16 under the** 

**Securities Exchange Act of 1934** 

**For the month of January, 2023** 

**Commission File Number 001-15216** 

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## HDFC BANK LIMITED
**(Translation of registrant's name into English)** 

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**HDFC Bank House, Senapati Bapat Marg,** 

**Lower Parel, Mumbai. 400 013, India** 

**(Address of principal executive office)** 

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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- <u>Not Applicable</u> .

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**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.

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| | | |
|:---|:---|:---|
|  | **HDFC BANK LIMITED** | **HDFC BANK LIMITED** |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Registrant) |
| Date: January 14, 2023 | By | /s/ Santosh Haldankar |
|  | Name: Santosh Haldankar | Name: Santosh Haldankar |
|  | Title: Sr. Vice President (Legal) & Company Secretary | Title: Sr. Vice President (Legal) & Company Secretary |

---

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**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.

<u>Exhibit</u> I

<u>Description</u>

Communication dated January 14, 2023 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about the unaudited Financial Results of HDFC Bank Limited for the quarter and nine months ended December 31, 2022.

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**January 14, 2023** 

**New York Stock Exchange** 

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

**<u>Sub: Outcome of the meeting of the Board of Directors of HDFC Bank Limited ("the Bank") held on January 14, 2023</u>**

We enclose herewith the unaudited standalone and consolidated financial results of the Bank for the third quarter and nine months ended December 31, 2022 ("Results"), along with segment reporting, press release, and the Limited Review Report of the Joint Statutory Auditors in this regard. The results were duly approved by the Board of Directors at its meeting held today.

Kindly take the same on your records.

**Yours faithfully,** 

**For HDFC Bank Limited** 

Sd/-

**Santosh Haldankar** 

**Sr. Vice President (Legal) & Company Secretary** 

Encl.:a/a.

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![LOGO](g404315image1.jpg)

**HDFC BANK LIMITED** 

**CIN : L65920MH1994PLC080618** 

**Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.** 

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

**UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2022** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) |
|  | **Particulars** | **Quarter ended** | **Quarter ended** | **Quarter ended** | **Nine months ended** | **Nine months ended** | **Year ended<br>31.03.2022** |
|  | **Particulars** | **31.12.2022** | **30.09.2022** | **31.12.2021** | **31.12.2022** | **31.12.2021** | **Year ended<br>31.03.2022** |
|  | **Particulars** | **Unaudited** | **Audited** | **Unaudited** | **Unaudited** | **Unaudited** | **Audited** |
| 1 | Interest Earned (a)+(b)+(c)+(d) | 4270777 | 3858638 | 3246805 | 11646619 | 9430439 | 12775311 |
|  | a) Interest / discount on advances / bills | 3364141 | 3040939 | 2489549 | 9145308 | 7260316 | 9851202 |
|  | b) Income on investments | 803922 | 770193 | 652582 | 2293472 | 1946960 | 2604613 |
|  | c) Interest on balances with Reserve Bank of India and other inter-bank funds | 23166 | 16024 | 86319 | 68814 | 185692 | 255237 |
|  | d) Others | 79548 | 31482 | 18355 | 139025 | 37471 | 64259 |
| 2 | Other income | 849984 | 759558 | 818355 | 2248365 | 2187284 | 2950990 |
| **3** | **Total Income (1)+(2)** | **5120761** | **4618196** | **4065160** | **13894984** | **11617723** | **15726301** |
| 4 | Interest Expended | 1971994 | 1756522 | 1402457 | 5297578 | 4116756 | 5574354 |
| 5 | Operating Expenses (i)+(ii) | 1246360 | 1122457 | 985108 | 3418998 | 2728940 | 3744219 |
|  | i) Employees cost | 412623 | 352383 | 315442 | 1115030 | 888705 | 1203169 |
|  | ii) Other operating expenses | 833737 | 770074 | 669666 | 2303968 | 1840235 | 2541050 |
| **6** | **Total Expenditure (4)+(5) (excluding Provisions and Contingencies)** | **3218354** | **2878979** | **2387565** | **8716576** | **6845696** | **9318573** |
| **7** | **Operating Profit before Provisions and Contingencies (3)-(6)** | **1902407** | **1739217** | **1677595** | **5178408** | **4772027** | **6407728** |
| 8 | Provisions (other than tax) and Contingencies | 280644 | 324013 | 299398 | 923430 | 1174948 | 1506183 |
| 9 | Exceptional Items |  |  |  |  |  |  |
| **10** | **Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)** | **1621763** | **1415204** | **1378197** | **4254978** | **3597079** | **4901545** |
| 11 | Tax Expense | 395814 | 354626 | 343977 | 1048852 | 906464 | 1205412 |
| **12** | **Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)** | **1225949** | **1060578** | **1034220** | **3206126** | **2690615** | **3696133** |
| 13 | Extraordinary items (net of tax expense) |  |  |  |  |  |  |
| **14** | **Net Profit / (Loss) for the period (12)-(13)** | **1225949** | **1060578** | **1034220** | **3206126** | **2690615** | **3696133** |
| 15 | Paid up equity share capital (Face Value of ₹ 1/- each) | 55768 | 55700 | 55424 | 55768 | 55424 | 55455 |
| 16 | Reserves excluding revaluation reserves |  |  |  |  |  | 23953838 |
| **17** | **Analytical Ratios and other disclosures:** |  |  |  |  |  |  |
|  | (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | Nil |
|  | (ii) Capital Adequacy Ratio | 17.66% | 16.92% | 19.53% | 17.66% | 19.53% | 18.90% |
|  | (iii) Earnings per share (EPS) (₹) (Face Value of ₹ 1/- each): |  |  |  |  |  |  |
|  | (a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 21.99 | 19.07 | 18.67 | 57.65 | 48.66 | 66.80 |
|  | (b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 21.89 | 19.00 | 18.54 | 57.40 | 48.31 | 66.35 |
|  | (iv) NPA Ratios: |  |  |  |  |  |  |
|  | (a) Gross NPAs | 1876390 | 1830100 | 1601355 | 1876390 | 1601355 | 1614096 |
|  | (b) Net NPAs | 502427 | 488267 | 467677 | 502427 | 467677 | 440768 |
|  | (c) % of Gross NPAs to Gross Advances | 1.23% | 1.23% | 1.26% | 1.23% | 1.26% | 1.17% |
|  | (d) % of Net NPAs to Net Advances | 0.33% | 0.33% | 0.37% | 0.33% | 0.37% | 0.32% |
|  | (v) Return on assets (average) - not annualized | 0.56% | 0.51% | 0.56% | 1.54% | 1.52% | 2.03% |
|  | (vi) Net worth | 26039935 | 24699703 | 22339400 | 26039935 | 22339400 | 23361381 |
|  | (vii) Outstanding Redeemable Preference Shares |  |  |  |  |  |  |
|  | (viii) Capital Redemption Reserve |  |  |  |  |  |  |
|  | (ix) Debt Equity Ratio | 0.28 | 0.38 | 0.25 | 0.28 | 0.25 | 0.33 |
|  | (x) Total debts to total assets | 9.18% | 9.29% | 9.82% | 9.18% | 9.82% | 8.93% |

---

*- Debt represents borrowings with residual maturity of more than one year. Total debts represents total borrowings of the Bank.* 

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

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![LOGO](g404315image2.jpg)

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) |
| **Particulars** | **Particulars** | **Quarter ended** | **Quarter ended** | **Quarter ended** | **Nine months ended** | **Nine months ended** | **Year ended** |
| **Particulars** | **Particulars** | **31.12.2022** | **30.09.2022** | **31.12.2021** | **31.12.2022** | **31.12.2021** | **31.03.2022** |
| **Particulars** | **Particulars** | **Unaudited** | **Audited** | **Unaudited** | **Unaudited** | **Unaudited** | **Audited** |
| **1** | **Segment Revenue** |  |  |  |  |  |  |
| a) | Treasury | 955078 | 790995 | 919160 | 2484037 | 2648635 | 3438512 |
| b) | Retail Banking | 3530186 | 3512514 | 2925294 | 10211263 | 8444166 | 11518991 |
| c) | Wholesale Banking | 2537451 | 2126597 | 1872577 | 6528256 | 4879539 | 6648293 |
| d) | Other Banking Operations | 656735 | 644952 | 567252 | 1900156 | 1596026 | 2149621 |
| e) | Unallocated | 104476 | 40347 |  | 145696 |  | (1218) |
|  | **Total** | **7783926** | **7115405** | **6284283** | **21269408** | **17568366** | **23754199** |
|  | Less: Inter Segment Revenue | 2663165 | 2497209 | 2219123 | 7374424 | 5950643 | 8027898 |
|  | **Income from Operations** | **5120761** | **4618196** | **4065160** | **13894984** | **11617723** | **15726301** |
| **2** | **Segment Results** |  |  |  |  |  |  |
| a) | Treasury | 77494 | 1226 | 253105 | 105337 | 755575 | 893951 |
| b) | Retail Banking | 440906 | 307750 | 195926 | 1018706 | 512680 | 922324 |
| c) | Wholesale Banking | 849435 | 922187 | 772611 | 2508286 | 1889604 | 2505301 |
| d) | Other Banking Operations | 255164 | 193722 | 204935 | 673639 | 569803 | 738648 |
| e) | Unallocated | (1236) | (9681) | (48380) | (50990) | (130583) | (158679) |
|  | **Total Profit Before Tax** | **1621763** | **1415204** | **1378197** | **4254978** | **3597079** | **4901545** |
| **3** | **Segment Assets** |  |  |  |  |  |  |
| a) | Treasury | 65748834 | 56105272 | 53754643 | 65748834 | 53754643 | 55176734 |
| b) | Retail Banking | 67126656 | 70443866 | 58577297 | 67126656 | 58577297 | 61946820 |
| c) | Wholesale Banking | 87494145 | 86839715 | 72959133 | 87494145 | 72959133 | 80813661 |
| d) | Other Banking Operations | 7813956 | 8163556 | 7356677 | 7813956 | 7356677 | 7659109 |
| e) | Unallocated | 1346941 | 1236927 | 1180845 | 1346941 | 1180845 | 1257183 |
|  | **Total** | **229530532** | **222789336** | **193828595** | **229530532** | **193828595** | **206853507** |
| **4** | **Segment Liabilities** |  |  |  |  |  |  |
| a) | Treasury | 9774905 | 10952287 | 13237969 | 9774905 | 13237969 | 7727363 |
| b) | Retail Banking | 148370986 | 141573723 | 122096409 | 148370986 | 122096409 | 129233974 |
| c) | Wholesale Banking | 39712407 | 41751119 | 31759407 | 39712407 | 31759407 | 41382531 |
| d) | Other Banking Operations | 664367 | 678726 | 631229 | 664367 | 631229 | 599476 |
| e) | Unallocated | 4253625 | 2422343 | 3139624 | 4253625 | 3139624 | 3900870 |
|  | **Total** | **202776290** | **197378198** | **170864638** | **202776290** | **170864638** | **182844214** |
| **5** | **Capital Employed** |  |  |  |  |  |  |
|  | (Segment Assets - Segment Liabilities) |  |  |  |  |  |  |
| a) | Treasury | 55973929 | 45152985 | 40516674 | 55973929 | 40516674 | 47449371 |
| b) | Retail Banking | (81244330) | (71129857) | (63519112) | (81244330) | (63519112) | (67287154) |
| c) | Wholesale Banking | 47781738 | 45088596 | 41199726 | 47781738 | 41199726 | 39431130 |
| d) | Other Banking Operations | 7149589 | 7484830 | 6725448 | 7149589 | 6725448 | 7059633 |
| e) | Unallocated | (2906684) | (1185416) | (1958779) | (2906684) | (1958779) | (2643687) |
|  | **Total** | **26754242** | **25411138** | **22963957** | **26754242** | **22963957** | **24009293** |

---

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. Vide its circular dated April 7, 2022 on establishment of Digital Banking Units (DBUs), the RBI has prescribed reporting of Digital Banking Segment as a sub-segment of Retail Banking Segment. During the quarter ended December 31, 2022, the Bank has commenced four DBUs. Reporting of Digital Banking segment as a sub-segment of Retail Banking Segment will be implemented by the Bank based on the guidance from the Indian Banks' Association (IBA) on the clarifications sought by the Bank in this regard.

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![LOGO](g404315image2.jpg)

**Notes :** 

1 Statement of Assets and Liabilities is given below:

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| | | | |
|:---|:---|:---|:---|
|  | (₹ in lac) | (₹ in lac) | (₹ in lac) |
| **<u>Particulars</u>** | **As at<br>31.12.2022** | **As at<br>31.12.2021** | **As at<br>31.03.2022** |
| **<u>Particulars</u>** | **Unaudited** | **Unaudited** | **Audited** |
|  **CAPITAL AND LIABILITIES** |  |  |  |
|  Capital | 55768 | 55424 | 55455 |
|  Reserves and Surplus | 26698474 | 22908533 | 23953838 |
|  Deposits | 173320398 | 144591811 | 155921744 |
|  Borrowings | 21076210 | 19042526 | 18481721 |
|  Other Liabilities and Provisions | 8379682 | 7230301 | 8440749 |
|  **Total** | **229530532** | **193828595** | **206853507** |
|  **ASSETS** |  |  |  |
|  Cash and Balances with Reserve Bank of India | 9477289 | 15737985 | 12999564 |
|  Balances with Banks and Money at Call and Short notice | 2442537 | 1104653 | 2233130 |
|  Investments | 52727667 | 42258533 | 45553570 |
|  Advances | 150680931 | 126086284 | 136882093 |
|  Fixed Assets | 691427 | 547940 | 608368 |
|  Other Assets | 13510681 | 8093200 | 8576782 |
|  **Total** | **229530532** | **193828595** | **206853507** |

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| | |
|:---|:---|
| 2 | The above financial results have been approved by the Board of Directors at its meeting held on January 14, 2023. The financial results for the quarter and nine months ended December 31, 2022 have been subjected to a limited review by the statutory auditors (M M Nissim & Co LLP, Chartered Accountants and Price Waterhouse LLP, Chartered Accountants) of the Bank. The financial results for the quarter and nine months ended December 31, 2021 and for the year ended March 31, 2022 were reviewed / audited by M M Nissim & Co LLP, Chartered Accountants and MSKA & Associates, Chartered Accountants.  |

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| | |
|:---|:---|
| 3 | These financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 25 – Interim Financial Reporting ("AS 25"), prescribed under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India ("the RBI") from time to time ('RBI Guidelines') and other accounting principles generally accepted in India, and is in compliance with the presentation and disclosure requirements of the Regulation 33 and Regulation 52 read with Regulation 63 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended including relevant circulars issued by the SEBI from time to time.  |

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4 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, 2022. Any circular / direction issued by RBI is implemented prospectively when it becomes applicable.

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| | |
|:---|:---|
| 5 | The Board of Directors at its meeting held on April 04, 2022, approved a composite Scheme of amalgamation ("Scheme"), for the amalgamation of: (i) HDFC Investments Limited and HDFC Holdings Limited, into and with Housing Development Finance Corporation Limited ("HDFC Limited"); and thereafter (ii) HDFC Limited into HDFC Bank Limited ("Bank"), and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013 and other applicable laws including the rules and regulations. The share exchange ratio shall be 42 equity shares of face value of ₹ 1/- each of the Bank for every 25 equity shares of face value of ₹ 2/- each of HDFC Limited. As per the Scheme, the appointed date for the amalgamation of HDFC Limited with and into the Bank shall be the effective date of the Scheme. Upon the Scheme becoming effective, the Bank will issue equity shares to the shareholders of HDFC Limited as on the record date as per the Scheme. The equity shares held by HDFC Limited in the Bank will be extinguished as per the Scheme.  |

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The Scheme was approved by the shareholders at the National Company Law Tribunal ("NCLT") convened meeting of the shareholders of the Bank held on November 25, 2022 for the purpose of considering and approving the arrangement embodied in the Scheme. Pursuant to the Joint Company Scheme Petition filed on December 7, 2022 with the NCLT in accordance with Sections 230-232 of the Companies Act, 2013 and rules thereunder, seeking the sanction of the NCLT for the Scheme, the NCLT has vide its order dated December 16, 2022, inter alia, fixed January 27, 2023 as the date for hearing for disposal of the said Joint Company Scheme Petition. Steps for seeking certain other regulatory approvals / consents shall be undertaken once the NCLT sanctions / approves the Scheme.

6 During the quarter and nine months ended December 31, 2022, the Bank allotted 67,96,370 and 3,12,14,420 equity shares respectively pursuant to the exercise of options under the approved employee stock option schemes.

7 During the quarter and nine months ended December 31, 2022, the Bank issued Basel III compliant bonds of ₹ 20,000.00 crore (Tier 2) and ₹ 23,000.00 crore (Additional Tier 1: ₹ 3,000.00 crore and Tier 2: ₹ 20,000.00 crore) respectively.

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| | |
|:---|:---|
| 8 | The COVID-19 virus, a global pandemic affected the world economy over the last more than two years. The extent to which any new wave of COVID-19 will impact the bank's results will depend on ongoing as well as future developments, including, among other things, any new information concerning the severity of the COVID-19 pandemic, and any action to contain its spread or mitigate its impact whether government-mandated or elected by us.  |

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9 Details of loans transferred / acquired during the quarter ended December 31, 2022 as per RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021 are given below:

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| | | | |
|:---|:---|:---|:---|
| (i) Details of non-performing assets (NPAs) transferred: | ₹ in crore except number of accounts | ₹ in crore except number of accounts | ₹ in crore except number of accounts |
| **Particulars** | **To Asset<br>Reconstruction<br>Companies<br>(ARCs)** | **To permitted<br>transferees** | **To other<br>transferees** |
|  Number of accounts | 1 | 1 |  |
|  Aggregate principal outstanding of loans transferred | 52.40 | 183.80 |  |
|  Weighted average residual tenor of the loans transferred (in years) | 0.01 |  |  |
|  Net book value of loans transferred (at the time of transfer) |  |  |  |
|  Aggregate consideration | 41.00 | 44.22 |  |
|  Additional consideration realised in respect of accounts transferred in earlier years | 1.33 |  |  |

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The Bank has reversed the excess provision of ₹ 85.22 crore to Profit and Loss account on sale of the aforesaid loans.

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![LOGO](g404315image2.jpg)

(ii) Details of ratings of SRs outstanding as on December 31, 2022 are given below:

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| | | | |
|:---|:---|:---|:---|
|  | (₹ in crore) | (₹ in crore) | (₹ in crore) |
| **Rating** | **Rating Agency** | **Recovery**<br>**rating** | **Outstanding as at<br>December 31,<br>2022** |
|  RR1 | India Ratings | 100% - 150% | 334.24 |
|  RR2 | India Ratings | 75% - 100% | 159.21 |
|  RR2 | CRICIL | 75% - 100% | 92.17 |
|  RR4 | India Ratings | 25% - 50% | 165.73 |
|  Unrated |  |  | 0.22 |
|  |  | **Total** | **751.57** |

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(iii) The Bank has not transferred any Special Mention Account (SMA) and loan not in default.

(iv) Details of loans not in default acquired through assignment are given below:

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| | |
|:---|:---|
| **Particulars** | **Value** |
|  Aggregate amount of loans acquired (₹ in crore) | 8901.37 |
|  Weighted average residual maturity (in years) | 19.71 |
|  Weighted average holding period by the originator (in years) | 1.28 |
|  Retention of beneficial economic interest by the originator | 10.00% |
|  Tangible security coverage | 99.90% |

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The loans acquired are not rated as these are to non-corporate borrowers.

(v) The Bank has not acquired any stressed loan.

10 Other income includes commission income 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.

11 Other operating expenses include commission paid to sales agents of ₹ 1,181.95 crore (previous period: ₹ 1,021.52 crore) and ₹ 3,471.56 crore (previous period: ₹ 2,553.62 crore) for the quarter and nine months ended December 31, 2022 respectively.

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

13 ₹ 10 lac = ₹ 1 million

₹ 10 million = ₹ 1 crore

Place : Mumbai Sashidhar Jagdishan <br> Date : January 14, 2023 Managing Director

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![LOGO](g404315image1.jpg)

**HDFC BANK LIMITED** 

**CIN : L65920MH1994PLC080618** 

**Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.** 

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

**UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2022** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) |
|  | **Particulars** | **Quarter ended** | **Quarter ended** | **Quarter ended** | **Nine months ended** | **Nine months ended** | **Year ended<br>31.03.2022** |
|  | **Particulars** | **31.12.2022** | **30.09.2022** | **31.12.2021** | **31.12.2022** | **31.12.2021** | **Year ended<br>31.03.2022** |
|  | **Particulars** | **Unaudited** | **Audited** | **Unaudited** | **Unaudited** | **Unaudited** | **Audited** |
| 1 | Interest Earned (a)+(b)+(c)+(d) | 4500211 | 4092979 | 3458802 | 12320571 | 10036222 | 13593641 |
|  | a) Interest / discount on advances / bills | 3585005 | 3262998 | 2690770 | 9789379 | 7835239 | 10629534 |
|  | b) Income on investments | 796486 | 768084 | 647468 | 2278292 | 1939483 | 2590706 |
|  | c) Interest on balances with Reserve Bank of India and other inter-bank funds | 26568 | 19070 | 88446 | 77603 | 191353 | 263078 |
|  | d) Others | 92152 | 42827 | 32118 | 175297 | 70147 | 110323 |
| 2 | Other Income | 912073 | 825231 | 877694 | 2430155 | 2337273 | 3175899 |
| **3** | **Total Income (1)+(2)** | **5412284** | **4918210** | **4336496** | **14750726** | **12373495** | **16769540** |
| 4 | Interest Expended | 2050486 | 1831079 | 1472402 | 5517391 | 4335780 | 5858433 |
| 5 | Operating Expenses (i)+(ii) | 1343779 | 1214979 | 1060711 | 3694266 | 2929891 | 4031243 |
|  | i) Employees cost | 527753 | 463175 | 412123 | 1451614 | 1169640 | 1589703 |
|  | ii) Other operating expenses | 816026 | 751804 | 648588 | 2242652 | 1760251 | 2441540 |
| **6** | **Total Expenditure (4)+(5) (excluding Provisions and Contingencies)** | **3394265** | **3046058** | **2533113** | **9211657** | **7265671** | **9889676** |
| **7** | **Operating Profit before Provisions and Contingencies (3)-(6)** | **2018019** | **1872152** | **1803383** | **5539069** | **5107824** | **6879864** |
| 8 | Provisions (Other than tax) and Contingencies | 324419 | 376512 | 381570 | 1067499 | 1389470 | 1792525 |
| 9 | Exceptional Items |  |  |  |  |  |  |
| **10** | **Profit / (Loss) from ordinary activities before tax<br>(7)-(8)-(9)** | **1693600** | **1495640** | **1421813** | **4471570** | **3718354** | **5087339** |
| 11 | Tax Expense | 420057 | 379381 | 360236 | 1120101 | 950753 | 1272249 |
| **12** | **Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)** | **1273543** | **1116259** | **1061577** | **3351469** | **2767601** | **3815090** |
| 13 | Extraordinary items (net of tax expense) |  |  |  |  |  |  |
| **14** | **Consolidated Net Profit / (Loss) for the period before minorities' interest (12)-(13)** | **1273543** | **1116259** | **1061577** | **3351469** | **2767601** | **3815090** |
| 15 | Less: Minorities' Interest | 3711 | 3738 | 2431 | 11205 | 6627 | 9815 |
| **16** | **Consolidated Net Profit / (Loss) for the period attributable to the group (14)-(15)** | **1269832** | **1112521** | **1059146** | **3340264** | **2760974** | **3805275** |
| 17 | Paid up equity share capital (Face Value of ₹ 1/- each) | 55768 | 55700 | 55424 | 55768 | 55424 | 55455 |
| 18 | Reserves excluding revaluation reserves |  |  |  |  |  | 24677162 |
| **19** | **Analytical Ratios:** |  |  |  |  |  |  |
|  | (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | Nil |
|  | (ii) Earnings per share (EPS) (₹) (Face Value of ₹ 1/- each): |  |  |  |  |  |  |
|  | (a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 22.78 | 20.01 | 19.12 | 60.06 | 49.93 | 68.77 |
|  | (b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 22.68 | 19.93 | 18.98 | 59.80 | 49.57 | 68.31 |

---

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

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![LOGO](g404315image2.jpg)

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

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) | (₹ in lac) |
| **Particulars** | **Particulars** | **Quarter ended** | **Quarter ended** | **Quarter ended** | **Nine months ended** | **Nine months ended** | **Year ended** |
| **Particulars** | **Particulars** | **31.12.2022** | **30.09.2022** | **31.12.2021** | **31.12.2022** | **31.12.2021** | **31.03.2022** |
| **Particulars** | **Particulars** | **Unaudited** | **Audited** | **Unaudited** | **Unaudited** | **Unaudited** | **Audited** |
| **1** | **Segment Revenue** |  |  |  |  |  |  |
| a) | Treasury | 955078 | 790995 | 919160 | 2484037 | 2648635 | 3438512 |
| b) | Retail Banking | 3530186 | 3512514 | 2925294 | 10211263 | 8444166 | 11518991 |
| c) | Wholesale Banking | 2537451 | 2126598 | 1872577 | 6528256 | 4879539 | 6648293 |
| d) | Other Banking Operations | 948259 | 944965 | 838588 | 2755898 | 2351798 | 3192860 |
| e) | Unallocated | 104476 | 40347 |  | 145696 |  | (1218) |
|  | **Total** | **8075450** | **7415419** | **6555619** | **22125150** | **18324138** | **24797438** |
|  | Less: Inter Segment Revenue | 2663166 | 2497209 | 2219123 | 7374424 | 5950643 | 8027898 |
|  | **Income from Operations** | **5412284** | **4918210** | **4336496** | **14750726** | **12373495** | **16769540** |
| **2** | **Segment Results** |  |  |  |  |  |  |
| a) | Treasury | 77494 | 1226 | 253105 | 105337 | 755575 | 893951 |
| b) | Retail Banking | 440906 | 307750 | 195926 | 1018706 | 512680 | 922324 |
| c) | Wholesale Banking | 849435 | 922187 | 772611 | 2508286 | 1889604 | 2505301 |
| d) | Other Banking Operations | 327001 | 274158 | 248551 | 890230 | 691078 | 924442 |
| e) | Unallocated | (1236) | (9681) | (48380) | (50989) | (130583) | (158679) |
|  | **Total Profit Before Tax and Minority Interest** | **1693600** | **1495640** | **1421813** | **4471570** | **3718354** | **5087339** |
| **3** | **Segment Assets** |  |  |  |  |  |  |
| a) | Treasury | 65748833 | 56105272 | 53754643 | 65748833 | 53754643 | 55176734 |
| b) | Retail Banking | 67126656 | 70443866 | 58577297 | 67126656 | 58577297 | 61946820 |
| c) | Wholesale Banking | 87494145 | 86839715 | 72959133 | 87494145 | 72959133 | 80813661 |
| d) | Other Banking Operations | 13792050 | 13731960 | 12555118 | 13792050 | 12555118 | 13099032 |
| e) | Unallocated | 1346941 | 1236926 | 1180845 | 1346941 | 1180845 | 1257183 |
|  | **Total** | **235508625** | **228357739** | **199027036** | **235508625** | **199027036** | **212293430** |
| **4** | **Segment Liabilities** |  |  |  |  |  |  |
| a) | Treasury | 9774903 | 10952286 | 13237969 | 9774903 | 13237969 | 7727363 |
| b) | Retail Banking | 148370986 | 141573723 | 122096409 | 148370986 | 122096409 | 129233974 |
| c) | Wholesale Banking | 39712407 | 41751119 | 31759407 | 39712407 | 31759407 | 41382531 |
| d) | Other Banking Operations | 5692211 | 5348044 | 5080298 | 5692211 | 5080298 | 5244034 |
| e) | Unallocated | 4253626 | 2422345 | 3139624 | 4253626 | 3139624 | 3900870 |
|  | **Total** | **207804133** | **202047517** | **175313707** | **207804133** | **175313707** | **187488772** |
| **5** | **Capital Employed** |  |  |  |  |  |  |
|  | (Segment Assets - Segment Liabilities) |  |  |  |  |  |  |
| a) | Treasury | 55973930 | 45152986 | 40516674 | 55973930 | 40516674 | 47449371 |
| b) | Retail Banking | (81244330) | (71129857) | (63519112) | (81244330) | (63519112) | (67287154) |
| c) | Wholesale Banking | 47781738 | 45088596 | 41199726 | 47781738 | 41199726 | 39431130 |
| d) | Other Banking Operations | 8099839 | 8383916 | 7474820 | 8099839 | 7474820 | 7854998 |
| e) | Unallocated | (2906685) | (1185419) | (1958779) | (2906685) | (1958779) | (2643687) |
|  | **Total** | **27704492** | **26310222** | **23713329** | **27704492** | **23713329** | **24804658** |

---

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. Vide its circular dated April 7, 2022 on establishment of Digital Banking Units (DBUs), the RBI has prescribed reporting of Digital Banking Segment as a sub-segment of Retail Banking Segment. During the quarter ended December 31, 2022, the Bank has commenced four DBUs. Reporting of Digital Banking segment as a sub-segment of Retail Banking Segment will be implemented by the Bank based on the guidance from the Indian Banks' Association (IBA) on the clarifications sought by the Bank in this regard.

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![LOGO](g404315image2.jpg)

**Notes :** 

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| | |
|:---|:---|
| 1 | The above financial results represent the consolidated financial results of HDFC Bank Limited, its subsidiaries (together referred to as the 'Group') and HDB Employee Welfare Trust. These financial results have been approved by the Board of Directors at its meeting held on January 14, 2023. The financial results for the quarter and nine months ended December 31, 2022 have been subjected to a limited review by the statutory auditors (M M Nissim & Co LLP, Chartered Accountants and Price Waterhouse LLP, Chartered Accountants) of the Bank. The financial results for the quarter and nine months ended December 31, 2021 and for the year ended March 31, 2022 were reviewed / audited by M M Nissim & Co LLP, Chartered Accountants and MSKA & Associates, Chartered Accountants.  |

---

---

| | |
|:---|:---|
| 2 | These financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard 21 - Consolidated Financial Statements ("AS 21") and Accounting Standard 25 - Interim Financial Reporting ("AS 25"), prescribed under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (RBI) from time to time ("RBI Guidelines") and other accounting principles generally accepted in India and is in compliance with the presentation and disclosure requirements of the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended including relevant circulars issued by the SEBI from time to time.  |

---

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| | |
|:---|:---|
| 3 | 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, 2022. Any circular / direction issued by RBI is implemented prospectively when it becomes applicable.  |

---

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| | |
|:---|:---|
| 4 | The Board of Directors at its meeting held on April 04, 2022, approved a composite Scheme of amalgamation ("Scheme"), for the amalgamation of: (i) HDFC Investments Limited and HDFC Holdings Limited, into and with Housing Development Finance Corporation Limited ("HDFC Limited"); and thereafter (ii) HDFC Limited into HDFC Bank Limited ("Bank"), and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013 and other applicable laws including the rules and regulations. The share exchange ratio shall be 42 equity shares of face value of ₹ 1/- each of the Bank for every 25 equity shares of face value of ₹ 2/- each of HDFC Limited. As per the Scheme, the appointed date for the amalgamation of HDFC Limited with and into the Bank shall be the effective date of the Scheme. Upon the Scheme becoming effective, the Bank will issue equity shares to the shareholders of HDFC Limited as on the record date as per the Scheme. The equity shares held by HDFC Limited in the Bank will be extinguished as per the Scheme.  |

---

The Scheme was approved by the shareholders at the National Company Law Tribunal ("NCLT") convened meeting of the shareholders of the Bank held on November 25, 2022 for the purpose of considering and approving the arrangement embodied in the Scheme. Pursuant to the Joint Company Scheme Petition filed on December 7, 2022 with the NCLT in accordance with Sections 230-232 of the Companies Act, 2013 and rules thereunder, seeking the sanction of the NCLT for the Scheme, the NCLT has vide its order dated December 16, 2022, inter alia, fixed January 27, 2023 as the date for hearing for disposal of the said Joint Company Scheme Petition. Steps for seeking certain other regulatory approvals / consents shall be undertaken once the NCLT sanctions / approves the Scheme. <br>

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| | |
|:---|:---|
| 5 | The COVID-19 virus, a global pandemic affected the world economy over the last more than two years. The extent to which any new wave of COVID-19 will impact the group's results will depend on ongoing as well as future developments, including, among other things, any new information concerning the severity of the COVID-19 pandemic, and any action to contain its spread or mitigate its impact whether government-mandated or elected by us.  |

---

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| | |
|:---|:---|
| 6 | In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio, liquidity coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel III Framework. These disclosures would be available on the Bank's website at the following link: https://www.hdfcbank.com/personal/resources/regulatory-disclosures. 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 Sashidhar Jagdishan <br> Date : January 14, 2023 Managing Director

------

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| | | |
|:---|:---|:---|
| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

---

**HDFC Bank Limited** 

**FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2022** 

The Board of Directors of HDFC Bank Limited approved the Bank's (Indian GAAP) results for the quarter and nine months ended December 31, 2022, at its meeting held in Mumbai on Saturday, January 14, 2023. The accounts have been subjected to a 'Limited Review' by the statutory auditors of the Bank.

**<u>STANDALONE FINANCIAL RESULTS:</u>**

**Profit & Loss Account: Quarter ended December 31, 2022** 

The Bank's net revenue, grew by 18.3% to ₹ 31,487.7 crore for the quarter ended December 31, 2022 from ₹ 26,627.0 crore for the quarter ended December 31, 2021. Excluding net trading and mark to market income, the net revenue grew by 22.1% over the quarter ended December 31, 2021.

Net interest income (interest earned less interest expended) for the quarter ended December 31, 2022 grew by 24.6% to ₹ 22,987.8 crore from ₹ 18,443.5 crore for the quarter ended December 31, 2021. Core net interest margin was at 4.1% on total assets, and 4.3% based on interest earning assets.

The four components of other income for the quarter ended December 31, 2022 were fees & commissions of ₹ 6,052.6 crore (₹ 5,075.1 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 1,074.1 crore (₹ 949.5 crore in the corresponding quarter of the previous year), net trading and mark to market income of ₹ 261.4 crore (₹ 1,046.5 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹ 1,111.8 crore (₹ 1,112.5 crore in the corresponding quarter of the previous year). Other income, excluding net trading and mark to market income, grew by 15.4% over the quarter ended December 31, 2021.

Operating expenses for the quarter ended December 31, 2022 were ₹ 12,463.6 crore, an increase of 26.5% over ₹ 9,851.1 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.6%.

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| | | |
|:---|:---|:---|
| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

---

Pre-provision Operating Profit (PPOP) was at ₹ 19,024.1 crore. PPOP, excluding net trading and mark to market income, grew by 19.3% over the quarter ended December 31, 2021.

Provisions and contingencies for the quarter ended December 31, 2022 were ₹ 2,806.4 crore as against ₹ 2,994.0 crore for the quarter ended December 31, 2021.

The total credit cost ratio was at 0.74%, as compared to 0.94% for the quarter ending December 31, 2021.

Profit before tax (PBT) for the quarter ended December 31, 2022 was at ₹ 16,217.6 crore. After providing ₹ 3,958.1 crore for taxation, the Bank earned a net profit of ₹ 12,259.5 crore, an increase of 18.5% over the quarter ended December 31, 2021.

**Balance Sheet: As of December 31, 2022** 

Total balance sheet size as of December 31, 2022 was ₹ 2,295,305 crore as against ₹ 1,938,286 crore as of December 31, 2021, a growth of 18.4%.

Total Deposits showed a healthy growth and were at ₹ 1,733,204 crore as of December 31, 2022, an increase of 19.9% over December 31, 2021. CASA deposits grew by 12.0% with savings account deposits at ₹ 535,206 crore and current account deposits at ₹ 227,745 crore. Time deposits were at ₹ 970,253 crore, an increase of 26.9% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 44.0% of total deposits as of December 31, 2022.

Total advances as of December 31, 2022 were ₹ 1,506,809 crore, an increase of 19.5% over December 31, 2021. Gross of transfers through inter-bank participation certificates and bills rediscounted, total advances grew by 23.6% over December 31, 2021. Domestic retail loans grew by 21.4%, commercial and rural banking loans grew by 30.2% and corporate and other wholesale loans grew by 20.3%. Overseas advances constituted 2.8% of total advances.

**Nine months ended December 31, 2022** 

For the nine months ended December 31, 2022, the Bank earned a total income of ₹ 138,949.8 crore as against ₹ 116,177.2 crore in the corresponding period of the previous year. Net revenues (net interest income plus other income) for the nine months ended December 31, 2022 were ₹ 85,974.1 crore, as against ₹ 75,009.7 crore for the nine months ended December 31, 2021. Net profit for the nine months ended December 31, 2022 was ₹ 32,061.3 crore, up by 19.2% over the corresponding nine months ended December 31, 2021.

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| | | |
|:---|:---|:---|
| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

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**Capital Adequacy:** 

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines (including profits for the nine months ended December 31, 2022) was at 19.4% as on December 31, 2022 (19.5% as on December 31, 2021) as against a regulatory requirement of 11.7% which includes Capital Conservation Buffer of 2.5%, and an additional requirement of 0.2% on account of the Bank being identified as a Domestic Systemically Important Bank (D-SIB). Tier 1 CAR was at 17.2% as of December 31, 2022 compared to 18.4% as of December 31, 2021. Common Equity Tier 1 Capital ratio was at 16.4% as of December 31, 2022. Risk-weighted Assets were at ₹ 1,536,272 crore (as against ₹ 1,267,426 crore as at December 31, 2021).

**<u>NETWORK</u>** 

As of December 31, 2022, the Bank's distribution network was at 7,183 branches and 19,007 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,552 cities / towns as against 5,779 branches and 17,238 ATMs / CDMs across 2,956 cities / towns as of December 31, 2021. 51% of our branches are in semi-urban and rural areas. In addition, we have 15,815 business correspondents, which are primarily manned by Common Service Centres (CSC). Number of employees were at 166,890 as of December 31, 2022 (as against 134,412 as of December 31, 2021).

**<u>ASSET QUALITY</u>** 

Gross non-performing assets were at 1.23% of gross advances as on December 31, 2022 (1.00% excluding NPAs in the agricultural segment), as against 1.23% as on September 30, 2022 (1.03% excluding NPAs in the agricultural segment), and 1.26% as on December 31, 2021 (1.04% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.33% of net advances as on December 31, 2022.

**<u>SUBSIDIARIES</u>** 

The Bank's subsidiary companies prepare their financial results in accordance with the notified Indian Accounting Standards ('Ind-AS'). The Bank for the purposes of its statutory compliance prepares and presents its financial results under Indian GAAP. Hence the Bank's subsidiary companies, for the purposes of the consolidated financial results of the Bank, prepare 'fit-for-consolidation information' based on the recognition and measurement principles as per Indian GAAP. The financial numbers of the Bank's subsidiary companies mentioned herein below are in accordance with Ind-AS.

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---

| | | |
|:---|:---|:---|
| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

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**HDFC Securities Limited (HSL)** is amongst the leading retail broking firms in India. As on December 31, 2022, the Bank held 95.6% stake in HSL. For the quarter ended December 31, 2022, HSL's total revenue was at ₹ 504.9 crore, as against ₹ 535.6 crore for the quarter ended December 31, 2021. Profit after tax for the quarter was at ₹ 203.2 crore, as against ₹ 258.0 crore for the quarter ended December 31, 2021.

As on December 31, 2022, HSL had 210 branches across 147 cities / towns in the country.

**HDB Financial Services Limited (HDBFSL)** is a non-deposit taking non-banking finance company ('NBFC') offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on December 31, 2022, the Bank held 94.9% stake in HDBFSL.

For the quarter ended December 31, 2022, HDBFSL's net revenue was at ₹ 2,233.4 crore as against ₹ 1,981.6 crore for the quarter ended December 31, 2021, a growth of 12.7%. Profit after tax for the quarter ended December 31, 2022 was ₹ 501.2 crore compared to ₹ 304.0 crore for the quarter ended December 31, 2021.

The total loan book was ₹ 65,103 crore as on December 31, 2022. Stage 3 loans were at 3.73% of gross loans. As on December 31, 2022, total CAR was at 20.5% with Tier-I CAR at 16.0%.

As on December 31, 2022, HDBFSL had 1,421 branches across 1,020 cities / towns.

**<u>CONSOLIDATED FINANCIAL RESULTS</u>** 

The consolidated net profit for the quarter ended December 31, 2022 was ₹ 12,698 crore, up 19.9%, over the quarter ended December 31, 2021. Consolidated advances grew by 19.2% from ₹ 1,312,142 crore as on December 31, 2021 to ₹ 1,563,799 crore as on December 31, 2022.

The consolidated net profit for the nine months ended December 31, 2022 was ₹ 33,403 crore, up 21.0%, over the nine months ended December 31, 2021.

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---

| | | |
|:---|:---|:---|
| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

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Note:

₹ = Indian Rupees

1 crore = 10 million

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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| ![LOGO](g404315image3.jpg) | **NEWS RELEASE** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; HDFC Bank Ltd.<br> HDFC Bank House,<br> Senapati Bapat Marg,<br> Lower Parel,<br> Mumbai - 400 013.<br> CIN: L65920MH1994PLC080618 |

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For more information please log on to: <u>www.hdfcbank.com</u>

**For media queries please contact:** 

Madhu Chhibber

Head - Corporate Communications

HDFC Bank Ltd., Mumbai.

Mobile: +91 9833775515

<u>madhu.chhibber@hdfcbank.com</u>

**For investor queries please contact:** 

Investor Relations

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1054 (D) / 6652 1000 (B)

<u>investor.relations@hdfcbank.com</u>