HDFC Bank Q2 update: Advances jump 57%, home loan grows 10% post merger

HDFC Bank’s deposits were approximately at Rs 21.73 lakh crore, growing by around 29.9 percent from Rs 16.73 lakh crore last year.

HDFC Bank, the country’s largest private sector bank, on October 4 said that it reported a robust 57.7 percent growth in advances, growing to Rs 23.54 lakh crore from Rs 14.93 lakh crore last year.

The bank, in a notification on the exchanges said that after the merger with the parent company, HDFC Limited on July 1, 2023, the bank reported highest home loan disbursals at around Rs 48,000 crore.

HDFC Bank’s deposits were approximately at Rs 21.73 lakh crore, growing by around 29.9 percent from Rs 16.73 lakh crore last year.

Also read: HDFC Bank's stock movement eyed after management rejig, price down over 9% in three weeks

On the advances front, the lender’s retail loans grew by around
111.5 percent year-on-year (YoY). Commercial and rural banking loans grew by around 29.5 percent whereas corporate and other wholesale loans grew by around 8 percent YoY.

Non-individual loans of the erstwhile HDFC Limited aggregated to approximately Rs 1.02 lakh crore.

For the July-September FY24 quarter, the bank’s current account and savings account (CASA) deposits aggregated to approximately Rs 8.17 lakh crore, compared to Rs 7.59 lakh crore last year, showing a 7.6 percent YoY growth. CASA ratio stood at around 37.6 percent compared to 45.4 percent last year.