HDFC Bank has issued and allotted 7.84 percent, unsecured, subordinated, fully paid-up, non-convertible, Basel III compliant Tier 2 Bonds on a private placement basis. The bank said in a regulatory filling that “the bonds issued are in the nature of debentures for augmenting Tier 2 capital and overall capital of the Bank, for strengthening its capital adequacy and for enhancing its long-term resources amounting to Rs. 5000 crore (5000 Bonds of face value Rs.1,00,00,000/- each).”

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HDFC Bank also announced opening of 100 new branches across India - in 83 cities/towns spread across 15 states and Union Territories. More than half of these branches are located in semi-urban and rural areas.

"We are committed to serve our customers through a combination of physical branch units and digital banking services. We will continue to open more branches in coming months, making quality banking products and services available across the country,” said Arvind Vohra, Group Head – Retail Branch Banking, HDFC Bank.

Also read: HDFC Bank acquires 7.75% stake in fintech start-up Mintoak for Rs 31 crore

In the current financial year, the bank has opened 425 retail branches and four digital banking units. As of December 15, 2022, the bank had 6,762 retail branches, four digital banking units, and 17,076 ATMs in 3,279 cities and towns.

Also read: Analysts raise earnings estimates for HDFC Bank after solid quarterly performance

For the July-September quarter HDFC Bank reported a 17.6 percent jump in net profit at Rs 8,834.3 crore. In the corresponding quarter last year, the Mumbai-headquartered bank posted a net profit of Rs 7,513 crore. CNBC-TV18 Poll had predicted a profit of Rs 8796.8 crore for the quarter under review.

Total consolidated income during the quarter under review rose to Rs 41,436.36 crore from Rs 38,438.47 crore in July-September 2020, HDFC Bank said in a statement. On a standalone basis, after providing Rs 3,048.3 crore for taxation, it earned a net profit of Rs 8,834.3 crore, an increase of 17.6 percent over the quarter ended September 30, 2020.

Shares of HDFC Bank are trading at Rs 1,637.50, up by 0.69 percent from the previous close on the BSE.

Also read: HDFC Bank Q2 results: Net profit jumps 18% to Rs 8,834.3 crore, beats estimates