Third largest lender of the country HDFC bank has reported the slowest growth in the net profit. In the past 10 years bank has made the slowest growth of 23%. Bank has made a net profit of Rs 2,327 crore for the quarter ended March 2014 compared to Rs 1,890 crore in the corresponding quarter last year. The bank's total income grew nearly 15% to Rs 12,790 crore from Rs 11,128 crore a year.
On the other hand, the NPA of the banks have reduced from Rs 3,018 crore as of December 2013 to Rs 2,989 crore by end-March. Due to the slow and stagnant auto sales and drop down in gold loans the growth in high-margin retail loans also dropped down.
The bank's net interest margins had improved to 4.5% from 4.4% in the earlier quarter as it had deployed a large part of funds raised by way of non-resident foreign currency (non-resident) deposits.