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During the quarter, the operating expenses grew by a modest 7.1% yoy, while sequentially it showed a decline of 1.1% QoQ primarily driven by just 3.5% growth in employee expenditure. The branch utilization has also improved during the quarter with cost/asset ratio at 3.0% as against 3.3% in most of FY09.The bank witnessed substantial improvement in operating profit margin of 520 bps over previous year period to 29.56%. Operating profit for the quarter ended June 30, 2009 grew by 47.8% to Rs 15,186.50 million over the corresponding quarter of the previous year.

Source: Firstcall India Equity Advisors , Company Research Publications, 2009

3.3 Advances & Deposits Growth

The Bank's total balance sheet size increased by Rs.175,164 million to touch Rs.18,61,150 million as of June 30, 2009. Total deposits were Rs.14,57,320 million, up from Rs.13,09,180 million as of June 30, 2008. With Savings account deposits at Rs.384,890 million and Current account deposits at Rs.270,260 million, the CASA mix was at 45% of total deposits as at June 30, 2009. Gross advances as at June 30, 2009 were Rs.10,52,880 million, an increase of 7.7% over June 30, 2008 and of 5.0% over March 31, 2009. Retail loans at Rs.611,300 million were 58.1% of gross advances.

3.3.1 Segment wise Revenue

Table 3.2: Segment Wise Revenue

3.3.2 Branch & ATM Network

As of June 30, 2009, the bank`s distribution network was 1,416 branches and 3,382 ATMs in 550 cities as against 1,229 branches and 2,526 ATMs in 444 cities as of June 30, 2008.

3.3.3 Slashes lending rate to 15.75%

HDFC Bank, country`s second largest private sector lender today slashed benchmark lending rate by 25 basis points to 15.75%. Benchmark Prime Lending Rate has been reduced to 15.75% per annum with effect from July 20, 2009.

3.3.4 Slashes deposit rates by up to 0.25%

HDFC has slashed its deposit rates by up to 0.25% across various maturities with effect from June 19, 2009. Even the HDFC Bank, promoted by the company, has also reduced its deposit rates by up to 0.25%. This reduction is in line with the market trends and taking into account the developments happening in the market in the recent past.

3.3.5 Allotment of Equity Shares under ESOS

The Investor Grievance (Share) Committee of the Bank have approved allotment of 5,22,522 equity shares to the employees of the Bank pursuant to exercise of options under its Employees Stock Option Schemes (ESOS). Increases floor level for savings accounts HDFC Bank has increased the floor level for balances in savings accounts. Now those opening new accounts in metro branches of the bank will have to maintain minimum average balances of Rs 10,000 each in their savings accounts against Rs 5,000 earlier. For semi-urban areas, the minimum balance for new customers has been raised Rs 5,000. The old limits would continue to apply for existing customers.

3.3.6 Bank Muscat sells 81% equity

Bank Muscat has sold 81% of its stake in HDFC Ban本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。