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HDFC Bank's Net NPA at 0.09%

Posted On: 2021-01-16 07:31:32 (Time Zone: Arizona, USA)


The Gross and Net non-performing assets of HDFC Bank were at 0.81% of gross advances and 0.09% of net advances as on December 31, 2020 respectively.

The restructuring under RBI resolution framework for COVID-19 was approximately 0.5% of advances.

The Honourable Supreme Court of India, in a public interest litigation (Gajendra Sharma Vs Union of India & Anr), vide an interim order dated September 3, 2020, directed that accounts which were not declared NPA till August 31, 2020 shall not be declared as such until further orders. Pursuant to the said interim order, accounts that would have otherwise been classified as NPA have not been and will not be, classified as NPA till such time that the Honourable Supreme Court rules finally on the matter.

However, if the Bank had classified borrower accounts as NPA after August 31, 2020 using its analytical models (proforma approach), the proforma Gross NPA ratio would have been 1.38% as on December 31, 2020, as against 1.37% as on September 30, 2020 and 1.42% as on December 31, 2019. The Bank's proforma Net NPA ratio would have been 0.40%. Pending disposal of the case, the Bank, as a matter of prudence, has made a contingent provision in respect of these accounts.

The Bank also continues to hold provisions as on December 31, 2020 against the potential impact of COVID-19 based on the information available at this point in time and the same are in excess of the RBI prescribed norms.

The Bank held floating provisions of ₹ 1,451 crore and contingent provisions of ₹ 8,656 crore as on December 31, 2020. Total provisions (comprising specific, floating, contingent and general provisions) were 260% of the reported Gross NPAs or 148% of proforma Gross NPAs as on December 31, 2020.

Shares of HDFC Bank Ltd was last trading in BSE at Rs.1467.95 as compared to the previous close of Rs. 1468.05. The total number of shares traded during the day was 236472 in over 8195 trades.

The stock hit an intraday high of Rs. 1474 and intraday low of 1445.5. The net turnover during the day was Rs. 344803524.


Source: Equity Bulls

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