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Tag: HDFC

  • HDFC Bank Posts 35 Per Cent Rise In YoY Profit; 2 Per Cent Dip From Last Quarter Of FY24 | Markets News

    New Delhi: Banking giant HDFC bank posted a standalone net profit of Rs 16,175 crore, climbing 35.3 per cent on a Year-On-Year (YoY) basis in the first quarter of Financial year (FY) 2025, as per the financial statement filed by the company with the stock exchanges on Saturday.

    The lender in the same period last year had reported a net profit of Rs 11952 crore. However, the net profit in the first quarter of FY 25 has dropped 2 per cent to Rs 16,511.85 crore, as compared to Rs 16512 crore in the fourth quarter of financial year 2024.

    The bank’s net interest income (NII) rose to 2.6 per cent quarter-on-quarter to Rs 29,837 crore. Net Interest Income (NII) is the difference between the revenue generated from a bank’s interest-bearing assets and expenses incurred while paying its interest-bearing liabilities. 

    The bank had reported Rs 29,078 crore in the March period.The net non-performing asset (NPA) of the bank upped 17.5 per cent sequentially. It stood at Rs 9508.4 crore in the first quarter of FY 25 as compared to Rs 8.091.7 crore in the fourth quarter of last year.

    The gross NPA of the bank also rose by 6 per cent quarter on quarter to Rs 33,026 crore in the June quarter, as compared to Rs 31,173 crore in the preceding March quarter of FY 2024.The bank had reported a 37 per cent YoY jump in the net profit at Rs 16,511 crore in the March quarter. 

    The net interest income had grown by 29 per cent YoY to Rs 29,077 crore.In the last trading session on Friday this week, the HDFC Banks stocks ended in red territory as they lasted 0.46 per cent lower at Rs 1607 apiece on the National Stock Exchange (NSE).The bank’s stocks have seen a decline of around 1.4 per cent over the past five trading sessions. However the the stocks of the bank have performed well rising 12.45 per cent in the last six months. 

  • HDFC Top 100 Fund Turns Rs 10,000 Monthly Sip Into Rs 8.30 Crore In 27 Years, Claims Company | Personal Finance News

    New Delhi: HDFC Top 100 Fund, an open-ended equity scheme predominantly investing in large-cap stocks has delivered Compound Annual Growth Rate (CAGR) of 19 percent. 

    Further, a SIP of Rs 10,000 invested systematically on the first business day of every month (total investment Rs 33.20 Lacs) in HDFC Top 100 Fund would have grown to Rs. 8.30 crores by May 31, 2024, said the company.

    Launched in October 1996, HDFC Top 100 Fund portfolio construction follows a bottom up approach to stock picking blended with top down sector and macro trend, said the company. The Fund follows a diversified style with a blend of GARP (growth at reasonable price) and value.

    “There is lot of focus on risk management with active positions being taken in a controlled manner while ensuring compliance with regulatory and internal risk guidelines. Any high conviction bets are taken after a considered evaluation of the company’s positioning in the industry and the business cycle and regularly evaluated. The portfolio is well diversified in number of stocks and the fund manager takes measured sector deviations calls vs benchmark,” the asset manager said in a release.

    Navneet Munot, MD & CEO – HDFC AMC, said, ” Sound Investment + Time + Patience has been the time-tested principle for wealth creation in equities. HDFC Top 100 Fund, which has stood the test of time bears testimony to this. Wealth creation journey of HDFC Top 100 Fund over 27 years is also a shining example of our robust research and investment processes which has helped the fund withstand multiple market cycles over the years.

    (Disclaimer: The return calculation is based HDFC Top 100 Fund’s own analysis and does not reflect the views of Zee Media)

  • HDFC Bank Customers Alert! UPI, Net Banking, And Mobile Banking Services Will Be Down On THIS Date & Time- Details Inside | Personal Finance News

    New Delhi: HDFC Bank customers would not be able to access several banking services early on Saturday, May 25. Due to scheduled maintenance, net banking, mobile banking and UPI will be unavailable from 3:30 am to 6:30 am, as stated on the bank’s website.

    HDFC Bank has informed its customers via SMS: “Scheduled Maintenance: Some transactions on HDFC Bank NetBanking and MobileBanking App will be unavailable on May 25, from 3:30 AM to 6:30 AM.”

    What banking services will be unavailable?

    The HDFC Bank website states that accounts, deposits, fund transfers (NEFT, IMPS, RTGS, and within bank transfers), online payments, and certain other transactions will be unavailable from 3:30 AM to 6:30 AM on May 25, 2024. (Also Read: Adani Enterprises Stock Recovers $30 Billion Following Hindenburg Report)

    Will UPI work during these hours?

    No, During this period customers will also be unable to make payments via UPI. (Also Read: Sensex, Nifty Close Flat After Touching All-Time High)

    HDFC Bank customers can utilize the bank’s ChatBanking service to learn more about the services affected by the scheduled maintenance of the bank’s platforms.

    What is HDFC ChatBanking service?

    HDFC Bank ChatBanking is a WhatsApp-based chat service allowing customers to access over 200 services and transactions 24/7. HDFC Bank’s ChatBanking service on WhatsApp is fully secure with end-to-end encryption.

    How to register for HDFC Bank’s ChatBanking service?

    To register for HDFC Bank ChatBanking simply save the number 7070022222 in your contacts. Then, send “Hi” or “Register” via WhatsApp from your bank-registered mobile number to 7070022222. You’ll receive guidance through the registration process. The bank has provided some frequently asked questions (FAQs) for customers regarding the ChatBanking service.

  • Non-public sector banks to supply monetary products and services in in another country procurement by way of Defence Ministry

    Via PTI

    NEW DELHI: The defence ministry on Thursday allowed 3 personal sector banks to supply monetary products and services to it for in another country procurement of army {hardware}.

    The banks are HDFC Financial institution Ltd, ICICI Financial institution and Axis Financial institution.

    Until now, handiest approved public sector banks have been utilised to supply products and services like issuance of letter of credit score and direct financial institution transfers to the ministry for in another country procurement.

    In keeping with additional opening of allocation of presidency trade to non-public sector banks by way of the dept of economic products and services, the ministry has assigned 3 personal sector banks to give you the LoC and direct financial institution switch trade for in another country procurement, an reputable unlock mentioned.

    “The chosen banks is also allotted with LC trade of Rs 2,000 crore, every at the capital and income aspect, for a length of 1 yr on concurrent foundation (Rs 666 crore for every financial institution below each capital in addition to Earnings),” the ministry mentioned.

    “The efficiency of those banks can be monitored continuously so that you could take essential additional motion as required,” it mentioned.