HDB HDFC Bank Limited

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of April, 2015

Commission File Number 001-15216

 

 

HDFC BANK LIMITED

(Translation of registrant’s name into English)

 

 

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  x            Form 40-F  ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):    Yes  ¨    No  x

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):    Yes  ¨    No  x

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.    Yes  ¨    No  x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

82- Not Applicable.

 

 

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

				HDFC BANK LIMITED
				(Registrant)
Date: 24th April, 2015				By		IsI Sanjay Dongre
				Name:		Sanjay Dongre
				Title:		Executive Vice President (Legal) & Company Secretary

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EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form 6-K.

Exhibit I

Description

Communication dated 23^rd April, 2015 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about Audited Annual Financial Results for the Financial Year ended 31^st March, 2015.

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Exhibit I

23^rd April, 2015

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir / Madam,

Re: Audited Annual Financial Results for the Financial Year ended 31^st March 2015

We attach herewith a file containing the Audited Financial Results (both Standalone and Consolidated) for the year ended 31^st March 2015, segment reporting and summarized Balance Sheet as on 31^st March, 2015 duly approved by the Board at its meeting held today. The Press Release in this regard are also enclosed.

The aforesaid audited annual financial results have been submitted to the stock exchanges in India as per the listing requirements of those Stock Exchanges.

The Board of Directors have recommended a dividend of Rs.8/- per equity share of Rs. 2/- each (i.e. 400%) out of the net profits for the year ended 31^st March, 2015, subject to approval of the shareholders at the ensuing Annual General Meeting of the Bank.

This is for your information and record.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Sanjay Dongre

Executive Vice President (Legal) &

Company Secretary

Encl. : a/a.

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HDFC BANK LIMITED

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2015

 

				( in lacs)
				Quarter ended 31.03.2015				Quarter ended 31.12.2014				Quarter ended 31.03.2014				Year ended 31.03.2015				Year ended 31.03.2014
		Particulars		Audited* (Refer note 3)				Unaudited				Audited* (Refer note 3)				Audited*				Audited*
1		Interest Earned (a)+(b)+(c)+(d)			1300637				1239583				1078856				4846991				4113554
		a) Interest / discount on advances / bills			982869				954318				848701				3718079				3168692
		b) Income on Investments			305719				269561				221790				1070561				903685
		c) Interest on balances with Reserve Bank of India and other inter bank funds			11006				13794				7642				51710				35599
		d) Others			1043				1910				723				6641				5578
2		Other Income			256376				253491				200142				899634				791964
3		TOTAL INCOME (1)+(2)			1557013				1493074				1278998				5746625				4905518
4		Interest Expended			699322				669590				583592				2607423				2265290
5		Operating Expenses (i)+(ii)			385496				345628				317472				1398755				1204219
		i) Employees cost			132556				113253				106124				475096				417898
		ii) Other operating expenses			252940				232375				211348				923659				786321
6		TOTAL EXPENDITURE (4)+(5) (excluding Provisions & Contingencies)			1084818				1015218				901064				4006178				3469509
7		Operating Profit before Provisions and Contingencies (3)-(6)			472195				477856				377934				1740447				1436009
8		Provisions (other than tax) and Contingencies			57665				56043				28613				207575				158802
9		Exceptional Items			—				—				—				—				—
10		Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)			414530				421813				349321				1532872				1277207
11		Tax Expense			133839				142362				116669				511280				429367
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			280691				279451				232652				1021592				847840
13		Extraordinary items (net of tax expense)			—				—				—				—				—
14		Net Profit / (Loss) for the period (12)-(13)			280691				279451				232652				1021592				847840
15		Paid up equity share capital (Face Value of 2/- each)			50130				48348				47981				50130				47981
16		Reserves excluding revaluation reserves															6150813				4299884
17		Analytical Ratios
		(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil				Nil
		(ii) Capital Adequacy Ratio			16.8	%			15.7	%			16.1	%			16.8	%			16.1	%
		(iii) Earnings per share ( )
		(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			11.4				11.5				9.7				42.1				35.5
		(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			11.3				11.4				9.6				41.7				35.2
		(iv) NPA Ratios
		(a) Gross NPAs			343838				346791				298928				343838				298928
		(b) Net NPAs			89628				90366				82003				89628				82003
		(c) % of Gross NPAs to Gross Advances			0.9	%			1.0	%			1.0	%			0.9	%			1.0	%
		(d) % of Net NPAs to Net Advances			0.2	%			0.3	%			0.3	%			0.2	%			0.3	%
		(v) Return on assets (average) - not annualized			0.5	%			0.5	%			0.5	%			2.0	%			2.0	%
18		Non Promoters Shareholding
		(a) Public Shareholding
		- No. of shares			1490274560				1467186868				1448829678				1490274560				1448829678
		- Percentage of Shareholding			59.4	%			60.7	%			60.4	%			59.4	%			60.4	%
		(b) Shares underlying Depository Receipts (ADS and GDR)
		- No. of shares			473004657				407004657				407004657				473004657				407004657
		- Percentage of Shareholding			18.9	%			16.8	%			17.0	%			18.9	%			17.0	%
19		Promoters and Promoter Group Shareholding
		(a) Pledged / Encumbered
		- No. of shares			—				—				—				—				—
		- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)			—				—				—				—				—
		- Percentage of Shares (as a % of the total share capital of the Company)			—				—				—				—				—
		(b) Non - encumbered
		- No. of shares			543216100				543216100				543216100				543216100				543216100
		- Percentage of Shares (as a % of the total shareholding of promoter and promoter group)			100.0	%			100.0	%			100.0	%			100.0	%			100.0	%
		- Percentage of Shares (as a % of the total share capital of the Company)			21.7	%			22.5	%			22.6	%			21.7	%			22.6	%

 

*	Except for disclosure regarding ‘Non Promoters Shareholding’ and ‘Promoters and Promoter Group Shareholding’ which are unaudited.

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

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Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Bank is as under:

 

		( in lacs)
Particulars		Quarter ended 31.03.2015				Quarter ended 31.12.2014				Quarter ended 31.03.2014				Year ended 31.03.2015				Year ended 31.03.2014
		Audited				Unaudited				Audited				Audited				Audited
1 Segment Revenue
a) Treasury			371936				334369				266743				1287130				1178670
b) Retail Banking			1289247				1256012				1088123				4881418				4080486
c) Wholesale Banking			615723				593676				508128				2318519				1964534
d) Other Banking Operations			178360				167827				145248				620102				503355
e) Unallocated			39				823				—				862				258
Total			2455305				2352707				2008242				9108031				7727303
Less: Inter Segment Revenue			898292				859633				729244				3361406				2821785
Income from Operations			1557013				1493074				1278998				5746625				4905518
2 Segment Results
a) Treasury			28827				26641				12565				58571				41230
b) Retail Banking			160438				164963				157893				622883				568541
c) Wholesale Banking			187592				195012				150037				750442				594011
d) Other Banking Operations			74178				72046				47620				248689				192046
e) Unallocated			(36505	)			(36849	)			(18794	)			(147713	)			(118621	)
Total Profit Before Tax			414530				421813				349321				1532872				1277207
3 Capital Employed
(Segment Assets - Segment Liabilities)
a) Treasury			15425638				12588592				12241141				15425638				12241141
b) Retail Banking			(17421098	)			(16204827	)			(12909019	)			(17421098	)			(12909019	)
c) Wholesale Banking			8307529				8817771				5305539				8307529				5305539
d) Other Banking Operations			1545754				1460408				1259579				1545754				1259579
e) Unallocated			(1656880	)			(1494667	)			(1549375	)			(1656880	)			(1549375	)
Total			6200943				5167277				4347865				6200943				4347865

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by RBI.

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

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Notes :

 

1	Statement of Assets and Liabilities as on March 31, 2015 is given below.

 

		( in lacs)
		As at 31.03.2015				As at 31.03.2014
Particulars		Audited				Audited
CAPITAL AND LIABILITIES
Capital			50130				47981
Reserves and Surplus			6150813				4299884
Deposits			45079565				36733748
Borrowings			4521356				3943900
Other Liabilities and Provisions			3248444				4134439
Total			59050308				49159952
ASSETS
Cash and Balances with Reserve Bank of India			2751045				2534563
Balances with Banks and Money at Call and Short notice			882100				1423801
Investments			16645996				12095107
Advances			36549504				30300028
Fixed Assets			312172				293992
Other Assets			1909491				2512461
Total			59050308				49159952

 

2	The above results have been approved by the Board of Directors at its meeting held on April 23, 2015. There are no qualifications in the auditor’s report for the year ended March 31, 2015. The information presented above is extracted from the audited financial statements as stated.

 

3	The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of third quarter of the respective financial year.

 

4	The Board of Directors at their meeting proposed a dividend of 8.00 per share, subject to the approval of the members at the ensuing Annual General Meeting.

 

5

Pursuant to the shareholder and regulatory approvals, the Bank on February 10, 2015, concluded a Qualified Institutions Placement (QIP) of 1,87,44,142 equity shares at a price of 1,067 per equity share aggregating 2,000 crore and an American Depository Receipt (ADR) offering of 2,20,00,000 ADRs (representing 6,60,00,000 equity shares) at a price of USD 57.76 per ADR, aggregating USD 1,271 million. Pursuant to these issuances, the Bank allotted 8,47,44,142 additional equity shares. Accordingly, share capital increased by 16.95 crores and share premium increased by 9,705.84 crores, net of share issue expenses of 151.03 crores.

 

6	During the quarter and year ended March 31, 2015, the Bank allotted 43,43,550 and 2,27,00,740 shares pursuant to the exercise of options under the approved employee stock option schemes.

 

7	Other income relates to income from non-fund based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments and recoveries from accounts written off.

 

8	As at March 31, 2015, the total number of branches (including extension counters) and ATM network stood at 4014 branches and 11766 ATMs respectively.

 

9	Information on investor complaints pursuant to Clause 41 of the listing agreement for the quarter ended March 31, 2015:

 

Opening: 8; Additions: 696; Disposals: 701; Closing position: 3.

 

10	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification.

11	10 lac = 1 million

10 million = 1 crore

 

Place : Mumbai		Aditya Puri
Date : April 23, 2015		Managing Director

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai—400013.

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HDFC BANK LIMITED GROUP

CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2015

 

				( in lacs)
		Particulars		Year ended 31-03-2015				Year ended 31-03-2014
				Audited				Audited
1		Interest Earned (a)+(b)+(c)+(d)			5066649				4255502
		a) Interest / discount on advances / bills			3933466				3307752
		b) Income on Investments			1070985				903920
		c) Interest on balances with Reserve Bank of India and other inter bank funds			54294				37860
		d) Others			7904				5970
2		Other Income			954569				829750
3		TOTAL INCOME (1)+(2)			6021218				5085252
4		Interest Expended			2728846				2344545
5		Operating Expenses (i)+(ii)			1457752				1246965
		i) Employees cost			516268				449447
		ii) Other operating expenses			941484				797518
6		TOTAL EXPENDITURE (4)+(5) (excluding Provisions & Contingencies)			4186598				3591510
7		Operating Profit before Provisions and Contingencies (3)-(6)			1834620				1493742
8		Provisions (Other than tax) and Contingencies			226675				172675
9		Exceptional Items			—				—
10		Profit / (Loss) from ordinary activities before tax (7)-(8)-(9)			1607945				1321067
11		Tax Expense			537940				444616
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			1070005				876451
13		Extraordinary items (net of tax expense)			—				—
14		Net Profit / (Loss) for the year (12)-(13)			1070005				876451
15		Minority Interest			1441				2465
16		Share in profits of associates			325				363
17		Consolidated profit for the year attributable to the Group (14)-(15)+(16)			1068889				874349
18		Paid up equity share capital (Face Value of 2/- each)			50130				47981
19		Reserves excluding revaluation reserves			6265276				4368682
20		Analytical Ratios
		(i) Percentage of shares held by Government of India			Nil				Nil
		(ii) Earnings per share ( )
		(a) Basic EPS before & after extraordinary items (net of tax expense)			44.1				36.6
		(b) Diluted EPS before & after extraordinary items (net of tax expense)			43.6				36.3

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

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Consolidated Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Group is as under:

 

				( in lacs)
Particulars				Year ended 31-03-2015				Year ended 31-03-2014
				Audited				Audited
1		Segment Revenue
a)		Treasury			1287130				1178670
b)		Retail Banking			4881418				4080486
c)		Wholesale Banking			2318519				1964534
d)		Other banking operations			894694				683088
e)		Unallocated			863				259
		Total			9382624				7907037
		Less: Inter Segment Revenue			3361406				2821785
		Income from Operations			6021218				5085252
2		Segment Results
a)		Treasury			58571				41230
b)		Retail Banking			622883				568541
c)		Wholesale Banking			750442				594011
d)		Other banking operations			323761				235905
e)		Unallocated			(147712	)			(118620	)
		Total Profit Before Tax, Minority Interest & Earnings from Associates			1607945				1321067
3		Capital Employed
		(Segment Assets - Segment Liabilities)
a)		Treasury			15425638				12241141
b)		Retail Banking			(17421098	)			(12909019	)
c)		Wholesale Banking			8307529				5305539
d)		Other banking operations			1676380				1340452
e)		Unallocated			(1656880	)			(1546276	)
		Total			6331569				4431837

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by RBI.

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

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Notes :

1	Consolidated Statement of Assets and Liabilities as on March 31, 2015 is given below.

 

		( in lacs)
Particulars		As at 31-03-2015				As at 31-03-2014
CAPITAL AND LIABILITIES			Audited				Audited
Capital			50130				47981
Reserves and Surplus			6265276				4368682
Minority Interest			16163				15174
Deposits			45028365				36708033
Borrowings			5947825				4959672
Other Liabilities and Provisions			3401893				4262454
Total			60709652				50361996
ASSETS
Cash and balances with Reserve Bank of India			2752229				2535722
Balances with Banks and Money at Call and Short notice			900413				1455621
Investments			16427261				11957106
Advances			38340797				31541886
Fixed Assets			322494				302628
Other Assets			1966458				2569033
Total			60709652				50361996

 

2

The above results represent the consolidated financial results for HDFC Bank Limited, its subsidiaries and associates. These results have been approved by the Board of Directors at its meeting held on April 23, 2015. There are no qualifications in the auditor’s report for the year ended March 31, 2015. The information presented above is extracted from the audited consolidated financial statements as stated.

 

3

The above results are prepared in accordance with the principles set out in Accounting Standard 21- Consolidated Financial Statements and Accounting Standard 23 - Accounting for Investments in Associates in Consolidated Financial Statements as prescribed by the Institute of Chartered Accountants of India.

 

4

Pursuant to the shareholder and regulatory approvals, HDFC Bank Limited on February 10, 2015, concluded a Qualified Institutions Placement (QIP) of 1,87,44,142 equity shares at a price of 1,067 per equity share aggregating 2,000 crore and an American Depository Receipt (ADR) offering of 2,20,00,000 ADRs (representing 6,60,00,000 equity shares) at a price of USD 57.76 per ADR, aggregating USD 1,271 million. Pursuant to these issuances, HDFC Bank Limited allotted 8,47,44,142 additional equity shares. Accordingly, share capital of HDFC Bank Limited increased by 16.95 crores and share premium increased by 9,705.84 crores, net of share issue expenses of 151.03 crores.

 

5

In accordance with RBI circular DBOD.No.BP.BC.2/21.06.201/2013-14 dated July 1, 2013, banks are required to make Pillar 3 disclosures under Basel III capital regulations for the Group. These disclosures are available at http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. The disclosures have not been subjected to audit or limited review.

 

6	Figures of the previous year have been regrouped/reclassified wherever necessary to conform to current year’s classification.

 

7	10 lac = 1 million

10 million = 1 crore

 

Place : Mumbai				Aditya Puri
Date : April 23, 2015				Managing Director

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

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NEWS RELEASE

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP)

FOR THE QUARTER AND YEAR ENDED MARCH 31, 2015

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended March 31, 2015 and the audited results for the year ended March 31, 2015, at their meeting held in Mumbai on Thursday, April 23, 2015.

FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended March 31, 2015

The Bank’s total income for the quarter ended March 31, 2015 was 15,570.1 crores, an increase of 21.7% over 12,790.0 crores for the quarter ended March 31, 2014. Net revenues increased by 23.3% to 8,576.9 crores for the quarter ended March 31, 2015 as against 6,954.1 crores for the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2015 grew by 21.4% to 6,013.2 crores from 4,952.6 crores for the quarter ended March 31, 2014, driven by average asset growth of 21.2% and a net interest margin for the quarter of 4.4%.

Other income (non-interest revenue) at 2,563.8 crores was 29.9% of the net revenues for the quarter ended March 31, 2015 and grew by 28.1% over 2,001.4 crores in the corresponding quarter ended March 31, 2014. The four components of other income for the quarter ended March 31, 2015 were fees & commissions of 1,834.8 crores ( 1,521.2 crores in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of 328.7 crores ( 252.1 crores for the corresponding quarter of the previous year), gain on revaluation / sale of investments of 196.1 crores ( 33.3 crores in the corresponding quarter of the previous year) and miscellaneous income including recoveries of 204.3 crores ( 194.8 crores for the corresponding quarter of the previous year).

 

 

 

Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013

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Operating expenses for the quarter ended March 31, 2015 were 3,855.0 crores, an increase of 21.4% over 3,174.7 crores during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 44.9% as against 45.7% for the corresponding quarter ended March 31, 2014.

Provisions and contingencies for the quarter ended March 31, 2015 were 576.7 crores (consisting of specific loan loss provisions 424.7 crores, general provisions 118.5 crores and other provisions 33.4 crores) for the quarter ended March 31, 2015 as against 286.1 crores (consisting of specific loan loss provisions 320.4 crores, general provisions 27.6 crores and write back / release of other provisions 61.9 crores) for the corresponding quarter ended March 31, 2014.

After providing 1,338.4 crores for taxation, the Bank earned a net profit of 2,806.9 crores for the quarter ended March 31, 2015, an increase of 20.6% over the quarter ended March 31, 2014.

Profit & Loss Account: Year ended March 31, 2015

For the year ended March 31, 2015, the Bank earned total income of 57,466.3 crores. Net revenues (net interest income plus other income) for the year ended March 31, 2015 were 31,392.0 crores, up by 18.9% over 26,402.3 crores for the year ended March 31, 2014. For the year ended March 31, 2015, the net interest margin remained stable at 4.4%. Cost to income ratio was at 44.6% for the year ended March 31, 2015, as against 45.6% for the previous year.

The Bank’s net profit for year ended March 31, 2015 was 10,215.9 crores, up 20.5%, over the year ended March 31, 2014. The consolidated net profit of the Bank increased by 22.2% to 10,688.9 crores for the year ended March 31, 2015.

 

 

 

Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013

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Balance Sheet: As of March 31, 2015

Total deposits as of March 31, 2015 were 450,796 crores, an increase of 22.7% over March 31, 2014. Savings account deposits grew 21.1 % over the previous year to reach 124,927 crores. Current account deposits grew 19.6% over the previous year to reach 73,565 crores. CASA deposits were 44.0% of total deposits as on March 31, 2015.

Advances as of March 31, 2015 were 365,495 crores, an increase of 20.6% over March 31, 2014. This loan growth was contributed by both segments of the Bank’s loan portfolio, with domestic retail loans and wholesale loans as per the Bank’s internal business classification growing by 21.8 % and 17.6% respectively (as per regulatory [Basel 2] segment classification growing by 15.5% and 25.9% respectively). The domestic loan mix as per Basel 2 classification between retail : wholesale was 51:49 and advances in overseas branches as of March 31, 2015 were at 7.9% of the total advances.

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as at March 31, 2015 (computed as per Basel III guidelines) stood at 16.8% as against a regulatory requirement of 9%. Of this, Tier-I CAR was 13.7%.

DIVIDEND

The Board of Directors recommended a dividend of 8.00 per equity share of 2 for the year ended March 31, 2015, as against 6.85 per equity share of 2 for the previous year. This would be subject to approval by the shareholders at the next annual general meeting.

NETWORK

The Bank has continued its branch expansion adding 611 branches in the year ended March 31, 2015, of which 320 of these branches were in semi-urban and rural locations. As of March 31, 2015, the Bank’s distribution network was at 4,014 branches and 11,766 ATMs in 2,464 cities / towns as against 3,403 branches and 11,256 ATMs in 2,171 cities / towns as of March 31, 2014. 55% of the total branches are now in semi-urban and rural areas.

 

 

 

Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013

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ASSET QUALITY

Gross non-performing assets (NPAs) were at 0.93% of gross advances as on March 31, 2015, as against 0.98% as on March 31, 2014. Net non-performing assets were at 0.2% of net advances as on March 31, 2015. Total restructured loans (including applications under process for restructuring) were at 0.1% of gross advances as of March 31, 2015.

Note:

= Indian Rupees

1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP.

NYSE: HDB

Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of our non-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.

For media queries please contact:

Neeraj Jha

Head, Corporate Communication

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1308 (D) / 6652 1000 (B)

Mobile: +91 93236 20828

neeraj.jha@hdfcbank.com

For investor queries please contact:

Bhavin Lakhpatwala

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1083 (D) / 6652 1000 (B)

Mobile: +91 74983 51730

bhavin.lakhpatwala@hdfcbank.com

 

 

 

Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai 400013