HDFC Bank Q3 Profit Rises 12% to Rs 19,807 Crore; ICICI Bank Profit Declines 2.7%

HDFC Bank reported a 12.17% rise in consolidated net profit to Rs 19,807 crore for the December quarter, driven by a 15% increase in non-interest income and a 6.4% growth in net interest income. Advances grew 11.9%, with retail loans up 6.9% and small and mid-market enterprise loans rising 17.2%. Asset quality improved, with gross non-performing assets declining to 1.24%. Implementation of new labour codes added Rs 800 crore in expenses. Provisions fell to Rs 2,838 crore, supporting profit growth. ICICI Bank’s Q3 profit declined 2.68% to Rs 12,538 crore amid higher provisions and labour code expenses.