HDFC Bank’s advances rise 16%, deposits up 20% in second quarter

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October 6, 2020 4:00 AM

In a stock exchange notification, the bank said that advances in September quarter grew 16% year-on-year to Rs 10.37 lakh crore, compared to Rs 8.97 lakh crore in the same period last year. The advances grew 3% quarter on quarter, compared to Rs 10.03 lakh crore in the June quarter.

hdfc bank, aditya puri, loan, deposits, capital, no threat on jobs, bonusesHDFC Bank has adequate capital and clean loan books.

Private lender HDFC Bank on Monday disclosed that its advances in September quarter grew 16% and deposits rose at 20% year-on-year. Similarly current account savings account (CASA) ratio of bank grew 270 basis points year-on-year to 42% during the September quarter.

In a stock exchange notification, the bank said that advances in September quarter grew 16% year-on-year to Rs 10.37 lakh crore, compared to Rs 8.97 lakh crore in the same period last year. The advances grew 3% quarter on quarter, compared to Rs 10.03 lakh crore in the June quarter.

The bank’s deposits aggregated to Rs 12.29 lakh crore as of September 30, 2020, a growth of around 20% year-on-year, compared to Rs 10.21 lakh crore in the same period last year. The deposits saw growth of 3% sequentially, compared to Rs 11.89 lakh crore at the end of June, 2020. The lenders current account savings account (CASA) ratio stood at around 42% as of September 30, 2020, compared to 39.3% as of September 30, 2019.

The CASA ratio stood at 40.1% as of June 30, 2020.

The bank also disclosed that lender purchased loans aggregating to Rs 3,026 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC).

HDFC Bank had earlier reported a 19.6% year-on-year growth in net profit to Rs 6,658.62 crore from Rs 5,568.16 crore in first quarter of financial year 2021. Its net interest income (NII) increased 17.8% year-on-year in June quarter to `15,665.4 crore.

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