HDFC Bank, India’s largest private lender, delivered a lukewarm Q3FY25 performance, reporting a 2.2% increase in net profit to ₹16,735.5 crore, up from ₹16,372 crore a year ago. While net interest income (NII) grew 7.68% to ₹76,006.88 crore, boosted by higher lending activity, rising expenses and a climb in non-performing assets (NPAs) tempered the results. Gross NPAs inched up to 1.42%, compared to 1.26% a year earlier, while net NPAs rose to 0.46% from 0.31%. These figures signal a slight weakening in asset quality, though they remain manageable. On the revenue front, retail banking was a bright spot, growing 11.11% year-on-year to ₹71,973.92 crore. Wholesale banking, however, saw a 4% dip, bringing in ₹47,683 crore. Treasury operations added some cushion with a 5.2% revenue bump to ₹15,428.73 crore. Despite mixed numbers, HDFC Bank shares edged up 1.43% during Wednesday’s session, trading at ₹1,665.25. Over the past year, the stock has returned nearly 15% to investors, although it has slid 7% year-to-date in 2025. As the bank navigates rising NPAs and fluctuating revenue streams, it continues to hold its ground as a dominant player in India’s banking landscape.