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HDFC’s internet and mobile banking grew 186% in a decade


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HDFC Bank’s banking delivery through the internet and mobile banking have increased to whopping 85% as on March 31, 2018, as compared to merely 3% ten years ago, the bank’s investor presentation showed. This represents growth of nearly 186% in one decade.

A snapshot from HDFC Bank’s investor presentation.

Besides traditional banking, it offers services through various digital channels, such as the Internet, mobile banking, and POS, lending over an app, chatbot-based service, e-commerce etc. The company did not share more details on its digital banking.

HDFC said that all its branches are linked online, real-time, and 53% of total banking outlets are in Semi-urban and Rural locations. HDFC has total branches of 4787 in 2691 cities at the ending of FY18. The usage of ATMs has reduced to 6% from 40% between 2008-2018.

HDFC Bank’s revenues at the quarter ending March 31, 2018 (Q4 FY18) stood at Rs 14886 crore, up 19% from Rs 12501 crore. Profit after tax for the quarter stood at Rs 4799 crore, up 20% from Rs 3990 crore.

The consolidated net profit for the full financial year ended March 31, 2018, stood at Rs 18510 crore, up 21.4% on y-o-y basis.  In cards, HDFC’s credit cards at the end of FY18 stood at 8.5 million, and the bank said that 70% of new credit cards issued to existing. It deployed 420,000 POS terminals to the merchants the FY18.

Download: Financials| Investors Presentation

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