The bank clocked a total income of Rs 10,338 crore in the October-December quarter as compared to Rs 7,581 crore in the year-ago period, registering an increase of 36 per cent. Net income rose to Rs 1,230 crore in the three months ended December 31, as against Rs 910 crore a year earlier, the bank said.

The group’s consolidated results saw net profit of Rs 1,119.82 crore  for the third quarter ended December 31, 2007 as compared to Rs 883.9 crore in the corresponding quarter last year. Total income increased from Rs 10,596.31 crore for the third quarter compared to Rs 15,653.31 crore in the same period last year.

Loans grew 25 per cent in the reported quarter. Income from fees and commissions rose 28 per cent to Rs 2150 crore. Individuals borrowed 61 per cent of all loans, compared with 68 per cent a year before, as a rise in interest rates and higher real estate prices slowed borrowing. Home mortgage loans accounted for half the loans to individuals.

On deposit growth, the bank maintained its current and savings account deposits increased 33 per cent to Rs. 62,494 crore (US$15.9 billion) at December 31, 2007 from Rs 47,062 crore (US$11.9 billion) at December 31, 2006. During this period, the bank’s total deposits increased 17 per cent to Rs 2,29,779 crore (US$58.3 billion) at December 31, 2007 from Rs 1,96,893 crore (US$ 49.9 billion) at December 31, 2006.

Credit growth
The bank’s credit growth envisages total advances increased 25 per cent to Rs 2,15,517 crore (US$54.7 billion) at December 31, 2007 from Rs 1,72,763 crore (US$43.8 billion) at December 31, 2006.

The proportion of advances of the bank’s international branches in total advances increased from 12 per cent at December 31, 2006 to 21 per cent at December 31, 2007, reflecting effective synergies between  strong corporate franchise and international presence. The retail advances were Rs 1,32,311 crore (US$33.6 billion) at December 31, 2007 and constituted 61 per cent of total advances.