The asset quality of India's largest private sector lender HDFC Bank has improved as the bank's gross non-performing assets (NPAs) declined to 1.17 per cent of gross advances as on March 31, 2022, as against 1.32 per cent as on March 31, 2021, according to data released by the bank on Saturday.
HDFC Bank's asset quality has improved also on a quarter-on-quarter basis. The bank's gross NPA stood at 1.26 per cent as on December 31, 2021.
HDFC Bank's net non-performing assets stood at 0.32 per cent of net advances as on March 31, 2022, according to a statement released by HDFC Bank.
The Bank held floating provisions of Rs 1,451 crore and contingent provisions of Rs 9,685 crore as on March 31, 2022. Total provisions (comprising specific, floating, contingent and general provisions) were 182 per cent of the gross non-performing loans as on March 31, 2022.
The Board of Directors of HDFC Bank approved the company's results for the quarter and year ended March 31, 2022, at its meeting held on Saturday.
(With inputs from PTI)
