The country’s largest private sector bank, HDFC Bank, on January 5 reported a 62.4 percent growth in gross advances to Rs 24.69 lakh crore in the October-December quarter of the financial year (FY) 2023-24.
The lender, in an exchange notification, informed that its advances grew by around 60.7 percent on a year-on-year (YoY) basis. Domestic retail loans grew by 111 percent from the corresponding quarter last year. Corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 11 percent YoY.
The lender’s deposits grew by 27.7 percent and stood at Rs 22.14 lakh crore as of December 31, 2023 from Rs 17.33 lakh crore last year.
HDFC Bank said that the figures for the period ended December 31, 2023, however, include the operations of erstwhile HDFC, which amalgamated with and into HDFC Bank on July 1, 2023, and hence are not comparable with those of the corresponding period of the previous year.
HDFC Bank's current account savings account (CASA) deposits reached approximately Rs 8.35 lakh crore as of December 31, 2023, growing by 9.5 percent from Rs 7.63 lakh crore in December 2022. Retail CASA grew by 10 percent YoY.
The bank's CASA ratio stood at around 37.7 percent compared to 44 percent in December 2022.
The shares of the bank were trading at Rs 1,679.95 a piece on BSE, down by 0.64 percent.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
