HDFC Bank on Tuesday announced its financial result for the quarter ended on December 31. The bank reported a net profit of Rs 3,865.33 crore, a rise of 15%, as against Rs 3356.8 crore during the same period last year. 

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The bank's total income for the Q3FY17 stood at Rs 20,748.3 crore, up from Rs 18,283.3 crore in Q3FY16. The net revenues increased by 15.2% to Rs 11,451.8 crore during December, 2016 quarter as compared to Rs 9,940.7 crore during December, 2015 quarter.

The Net Interest Income for the quarter rose by 17.6% to Rs 8309.1 crore from Rs 7068.5 crore during December 31, 2015, mainly driven by average assets growth of 18.6% and a net interest margin for the quarter of 4.1%. 

Gross non-performing assets rose to 1.05% of gross advances as compared to 0.97% in Q3FY16 and 1.02% in Q2FY17. The net NPA were at 0.3% of net advances as on Q3FY17. 

Provisions and contingencies for the quarter ended December, 2016 were Rs 715.8 crore (consisting of specific loan loss provisions Rs 694.4 crore, general provisions Rs 9.3 crore and other provisions Rs 12.1 crore) as against Rs 653.9 crore (including specific loan loss of provisions Rs 601.5 crore, general provisions Rs 49.9 crore and other provisions Rs 2.5 crore) for the corresponding quarter last year. 

Deposits till December, 2016 stood at Rs 6,34,704.56 crore as against Rs 5,46,424.19 crore as on March 31, 2016 and Rs 5,23,996.79 crore as on December, 2015. The bank in the release said that this was after considering maturities of about $3 billion of Foreign Currency Non-Resident (FCNR) deposits raised during the quarter ended on December 31, 2013.

"CASA deposit growth saw a spurt largely attributed to the demonetisation exercise, with current account deposits growing by 36.7% over the previous year to reach Rs 1,01,239 crore and savings account deposits growing by 37.8% over the previous year to reach Rs 1,86,634 crore. Time deposits were at Rs 3,46,832 crore, an increase of 10.3% over the previous year resulting in CASA proportion of 45% as in Q3FY17," the bank said in the release. 

HDFC Bank's distribution network was at 4,555 branches and 12,087 ATMs across 2,597 cities/towns as against 4,281 branches and 11,843 ATMs across 2,505 cities/towns as of December 31, 2015. 

The bank in a release said that, of the total branches, 52% are in semi-urban and rural areas. Number of employees increased from 84,619 as of Q3FY16 to 90,421 in Q3FY17.