HDFC Bank Ltd has posted a net profit of Rs 988.80 million for the quarter ended December 31, 2002 (DQ-02) as compared to Rs 754.50 million in the quarter ended December 31, 2001 (DQ-01).

Total income has increased from Rs 5250.70 million in DQ-01 to Rs 6462.80 million in DQ-02.

Business Update :

During the current financial year so far, the bank's growth in each of its major business franchisees has remained healthy. Total number or retail accounts increased by over 50 per cent from 1.9 million in December 2001 to 3.0 million as of December 2002.

Portfolio quality remained healthy with net non-performing assets at 0.7 per cent of customer assets. Capital adequacy ratio was 13 per cent against the regulatory requirement of 9 per cent.

BSE Code: 500180