With the net profit at Rs 7,280.22 Cr, private sector lender HDFC Bank reported a 15.4 percent rise in its net profit.
The bank said it will not make any further dividend payouts from profit pertaining to 2019-20, in line with RBI directives announced on Friday. Earlier, the apex bank has debarred lenders from dividend payouts so that the capital can be conserved in the environment of uncertainity caused by corona pandemic
Accordingly, the board of directors of HDFC Bank, at their meeting held on Saturday, did not propose any final dividend for the year ended March 31, 2020, it added.
The central bank had debarred lenders from dividend payouts so that they can conserve capital in an environment of heightened uncertainty caused by the COVID-19 crisis.
Accordingly, the board of directors of HDFC Bank, at their meeting held on Saturday, did not propose any final dividend for the year ended March 31, 2020, it added.