Showing posts with label Private sector. Show all posts
Showing posts with label Private sector. Show all posts

Saturday 30 April 2016

HDFC Bank plans to raise Rs 50,000 crores via bonds

Private sector lender HDFC Bank today said it plans to raise Rs 50,000 crore through bonds over one year to fund business growth.

The board has accorded approval for seeking shareholders nod at the annual general meeting (AGM) for issue of perpetual debt instruments, tier-II bonds, senior long-term infra bonds up to a total amount of Rs 50,000 crore in the period of next 12 months through private placement, HDFC Bank said in a regulatory filing.
The board meeting will be held on May 19 to decide about the date for the AGM.
For the fourth quarter, HDFC Bank reported a 20.2 per cent jump in March quarter net at Rs 3,374.2 crore, helped by a healthy rise in core net interest income (NII).
The bank, which registered around 30 per cent profit growth for over a decade till 2013-14, posted a 20.4 per cent growth in post-tax profit at Rs 12,296.2 crore for the fiscal.
For January-March, NII rose 24 per cent to Rs 7,453.3 crore, while the non-interest income was up 11.8 per cent to Rs 2,865.9 crore.
On the asset quality front, gross non-performing assets (NPAs) were flat at 0.94 per cent of gross advances.
Net non-performing assets were at 0.3 per cent of net advances as on March 31, 2016. Total restructured loans were at 0.1 per cent of gross advances at the end of 2016-17.
Provisions and contingencies for the quarter ended March were Rs 662.5 crore as against Rs 576.7 crore in the corresponding quarter of the last year.

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