HDFC Bank posts 23.5 pc loan growth in second quarter | The Financial Express

HDFC Bank posts 23.5 pc loan growth in second quarter

In another filing, Yes Bank said loan growth during the quarter increased by 11.6 per cent to Rs 1,92,809 crore as against Rs 1,72,839 crore in September 2021.

HDFC Bank posts 23.5 pc loan growth in second quarter
The merger is expected to be completed by the second or third quarter of FY24, subject to regulatory approvals.

Private sector HDFC Bank on Tuesday said it has registered a 23.5 per cent rise in loans to Rs 14.80 lakh crore in the second quarter of this fiscal.The credit book was Rs 11.98 lakh crore as of September 30 last year. Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 25.8 per cent over September 30, 2021, HDFC Bank said in a regulatory filing.

The bank’s deposits aggregated to approximately Rs 16.73 lakh crore as of September 30, 2022, nearly 19 per cent higher from Rs 14.06 crore as of September 30, 2021, it added.During the quarter ended September 30, 2022, the bank purchased loans aggregating Rs 9,145 crore through the direct assignment route under the home loan arrangement with parent firm Housing Development Finance Corporation Limited.

Earlier in April, India’s largest private lender HDFC Bank agreed to take over the biggest domestic mortgage lender in a deal valued at about USD 40 billion, creating a financial services titan.The proposed entity will have a combined asset base of around Rs 18 lakh crore. The merger is expected to be completed by the second or third quarter of FY24, subject to regulatory approvals. Once the deal is effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the bank.

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In another filing, Yes Bank said loan growth during the quarter increased by 11.6 per cent to Rs 1,92,809 crore as against Rs 1,72,839 crore in September 2021. At the same time, the bank’s deposits aggregated to Rs 2,00,020 crore as of September 30, 2022, a growth of around 13.2 per cent over Rs 1,76,672 crore as of September 30, 2021.

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