HDFC Bank Q1 Update: Advances soar 53% YoY to Rs 24.87 lakh cr; deposits jump 24%
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Synopsis
Excluding the impact of the HDFC merger with the bank on July 1, 2023, the bank's gross advances grew by 15% compared to the same period last year. During the first quarter, retail loans increased by approximately Rs 18,600 crore, and commercial and rural banking loans grew by around Rs 7,200 crore. However, corporate and other wholesale loans decreased by Rs 26,600 crore compared to the preceding March quarter.
India's leading private lender HDFC Bank on Thursday said its gross advances registered 53% year-on-year growth at Rs 24.87 lakh crore in the first quarter. The same stood at Rs 16.3 lakh crore in the last year quarter.
The bank’s advances under management (grossing up for inter-bank participation certificates, bills rediscounted and securitisation / assignment) were Rs 25.7 lakh crore as of June 2024.
During the quarter, retail loans grew around Rs 18,600 crore, commercial and rural banking loans grew by around Rs 7,200 crore and corporate and other wholesale loans were lower by Rs 26,600 crore over the preceding March quarter.
HDFC Bank’s deposits saw growth of 24% year-on-year to Rs 23.79 lakh crore in the reporting first quarter, compared with Rs 19.13 lakh crore in the June quarter of last year. Deposits were at similar levels compared to Rs 23.79 lakh crore in the March quarter.
Excluding the July 2023 merger impact, the bank’s deposits grew by 16.5% over previous year.
The bank’s CASA deposits were Rs 8.63 lakh crore at the end of June quarter, showing growth of around 6% over Rs 8.1 lakh crore.
The current account balances of the bank reduced by Rs 42,500 crore during the quarter, it said in a filing.
The bank’s average deposits were Rs 22.83 lakh crore for the June 2024 quarter — growth of 25.2% over Rs 18.2 lakh crore for the June 2023 quarter, and 4.6% over the preceding March 2024 quarter.
The lender's average CASA deposits were Rs 8.1 lakh crore for the first quarter, registering growth of 8.1% over Rs 7.49 lakh crore in the same period last year.
HDFC Bank's liquidity coverage ratio (average) came in around 123% for the first quarter.
On Thursday, HDFC Bank shares closed 2.3% lower at Rs 1,728 on NSE.
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Excluding the impact of the merger of erstwhile HDFC with the bank on July 1, 2023, the bank’s gross advances grew 15% over the same period last year.The bank’s advances under management (grossing up for inter-bank participation certificates, bills rediscounted and securitisation / assignment) were Rs 25.7 lakh crore as of June 2024.
During the quarter, retail loans grew around Rs 18,600 crore, commercial and rural banking loans grew by around Rs 7,200 crore and corporate and other wholesale loans were lower by Rs 26,600 crore over the preceding March quarter.
HDFC Bank’s deposits saw growth of 24% year-on-year to Rs 23.79 lakh crore in the reporting first quarter, compared with Rs 19.13 lakh crore in the June quarter of last year. Deposits were at similar levels compared to Rs 23.79 lakh crore in the March quarter.
Excluding the July 2023 merger impact, the bank’s deposits grew by 16.5% over previous year.
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The bank’s CASA deposits were Rs 8.63 lakh crore at the end of June quarter, showing growth of around 6% over Rs 8.1 lakh crore.
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The current account balances of the bank reduced by Rs 42,500 crore during the quarter, it said in a filing.
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The bank’s average deposits were Rs 22.83 lakh crore for the June 2024 quarter — growth of 25.2% over Rs 18.2 lakh crore for the June 2023 quarter, and 4.6% over the preceding March 2024 quarter.
The lender's average CASA deposits were Rs 8.1 lakh crore for the first quarter, registering growth of 8.1% over Rs 7.49 lakh crore in the same period last year.
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HDFC Bank's liquidity coverage ratio (average) came in around 123% for the first quarter.
On Thursday, HDFC Bank shares closed 2.3% lower at Rs 1,728 on NSE.
(You can now subscribe to our ETMarkets WhatsApp channel)
