HDFC Bank reported a strong performance in its Q2 results for FY2024, with a consolidated profit after tax (PAT) of ₹17,830 crore, reflecting a 17.4% year-on-year growth. The bank’s total revenue increased by 14.7% to ₹57,482 crore, driven by robust loan growth and improved net interest margins. The bank’s asset quality remained stable, with a gross non-performing asset (GNPA) ratio of 1.28%, indicating effective risk management strategies. HDFC Bank’s retail and wholesale banking segments both contributed significantly to the revenue increase, showcasing its diversified business model. Additionally, the bank’s strong digital initiatives have further enhanced customer engagement and service delivery. Overall, these results underscore HDFC Bank’s resilience and capacity to navigate the evolving economic landscape while maintaining a solid growth trajectory. The bank continues to focus on expanding its reach and enhancing customer experience through innovation and technology.
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