HDFC Bank’s gross advances surged 62.4 % to Rs 24.69 trillion in the October-December quarter of the current fiscal from Rs 15.2 trillion in the same quarter previous year. Sequentially, the advances saw a growth of around 4.9% over Rs 23.54 trillion as of September 30, 2023.
The country’s largest private lender, in its third quarter business update released on Friday, said the deposits grew 27.7% y-o-y to Rs22.14 trillion as of December 31, 2023 from Rs17.33 trillion.
Analysts expect other lenders to post similar numbers in the third quarter after HDFC Bank’s strong performance during the period.
The bank’s domestic retail loans grew 111% y-o-y and around 3 % q-o-q. Commercial and rural banking loans saw a rise of around 31.5% y-o-y and 6.5% q-o-q.
The corporate & other wholesale loans, excluding non-individual loans of erstwhile HDFC, grew 11% y-o-y and 2% q-o-q.
“Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7% over December 31, 2022 and around 3.8% over September 30, 2023,” the bank stated in a filing on the BSE.
The lender said the figures for the period ended December 31 include the operations of erstwhile HDFC, which amalgamated with HDFC Bank on July 1, 2023 and hence are not comparable with those of the corresponding period of the previous year.
The bank’s current account savings account (CASA) ratio stood at around 37.7% as of December 31 compared to 44% as of December 31, 2022 and 37.6% as of September 30, 2023. CASA deposits reached approximately `8.35 trillion, growing 9.5 % from `7.63 trillion in December 2022.
Retail CASA grew 10% y-o-y and around 2.3% over September 30, 2023.
Shares of the bank ended 0.5% down to close at `1,682 a piece on the BSE on Friday. Earlier this week, Punjab National Bank posted a 13.5% growth in advances to `9.72 trillion for the quarter. Total advances of the bank stood at `8.56 trillion at the end of the third quarter of the financial year.