HDFC Bank Board Approves FY22 Dividend; Investors Need To Know This

HDFC Bank’s board of directors has recommended a dividend of Rs 15.50 per share of capital for the fiscal year 2021-22. There has been set May 13 as the record date to determine the eligibility of members entitled to receive a capital stock dividend.

“The board of directors, at their meeting held… (on April 23), has recommended a dividend of Rs 15.50 per share of Re 1, each fully paid (ie 1,550 per cent) of the net earnings for the year finalized. March 31, 2022,” HDFC Bank said in a BSE filing on Saturday.

However, it is subject to shareholder approval at the bank’s subsequent annual general meeting.

“The dividend, if approved by the shareholders of the bank, will be paid after the annual general meeting (AGM) to those shareholders, whose names appear in the register of members/register of beneficial owners of the bank maintained by the depositories, viz. National Securities Depository Limited and Central Depository Services (India) Ltd at the close of business hours on Friday, May 13, 2022,” it added.

The standalone net profit of the country’s largest private sector lender in the March 2022 quarter was Rs 10,055.18 crore, an increase of 22.82% compared to Rs 8,186.51 crore a year ago. Its total revenue during January-March 2022 rose eight per cent to Rs 41,085.78 crore, against Rs 38,017.50 in the same period a year earlier.

HDFC Bank’s Net Interest Income (NII), interest earned minus interest expense, during January-March 2022 grew by 10.2% to Rs 18,872.7 crore, compared with Rs 17,120.2 crore. rupees a year ago, according to a BSE report.

The bank’s total deposits as of March 31, 2022, stood at Rs 15,59,217 crore, an increase of 16.8% compared to the previous year. CASA (Current account savings account) deposits increased by 22 per cent with savings account deposits at Rs 5,11,739 crore and current account deposits at Rs 2,39,311 crore.

On the asset quality front, the bank reported Saturday that gross non-earning assets (GNPA) were 1.17% of gross advances as of March 31, 2022, compared to 1.31% a year ago. one year. NGPA during the December quarter of 2021 stood at 1.26 percent. In absolute terms, the bank’s NGPA gross non-earning assets rose to Rs 16,140.96 crore compared with Rs 15,086 crore a year ago.

Its net NPAs, or bad loans, stood at 0.32% of net advances at the end of the March 2022 quarter compared to 0.40% a year ago. In absolute terms, it stood at Rs 4,407.68 crore compared to Rs 4,554.82 crore a year ago. “The liquidity coverage ratio was healthy at 112 percent, well above the regulatory requirement,” HDFC Bank said in a statement.