HDFC Bank earned a net profit of Rs 3,990 crore in the fourth quarter ended March 31, 2017, up 18 per cent year-on-year over the quarter ended March 31, 2016.

For the financial year ended March 31, 2017, India’s second largest private sector bank recorded a net profit of Rs 14,540 crore, up 18 per cent yoy over the year ended March 31, 2016.

The Board of Directors have recommended a dividend of Rs 11 per equity share of Rs 2 each (that is 550 per cent) out of the net profits for the year ended March 31, 2017, subject to the approval of the shareholders at the ensuing Annual General Meeting of the bank.

The profitability in the reporting quarter comes despite provisions and contingencies, jumping almost 90 per cent to Rs 1,262 crore as against Rs 662.5 crore in the year ago quarter.

Total deposits as of March 31, 2017 were Rs 6,43,640 crore, an increase of 18 per cent over March 31, 2016. Advances as of March 31, 2017 were Rs 5,54,568 crore, an increase of 19 per cent over March 31, 2016