Private sector lender HDFC Bank posted 55.4 percent year-on-year (year-on-year) growth in gross advances to Rs 25.08 trillion at the end of the last quarter of the current fiscal (Q4 FY24), an increase from Rs 16.14 trillion in the year-ago period.
The erstwhile HDFC Ltd was merged with HDFC Bank on July 1, 2023 and the Q4 FY24 figures are not directly comparable to the Q4 FY23 figures.
Subsequently, the bank’s advances rose 1.6 percent from Rs 24.69 trillion at end-December 31, 2023 (Q3 FY24).
According to the bank’s internal business classification, domestic retail loans grew by about 108.9 percent from the year-ago period and 3.7 percent from Q3 2024 figures. Meanwhile, commercial and rural bank loans grew by about 24.6 percent on March 31, 2023, and by about 4.2 percent thereafter.
Corporate and other wholesale loans (excluding non-individual loans of erstwhile HDFC Ltd) grew by around 4.1 per cent as on March 31, 2023. However, sequentially, the segment witnessed a decline of around 2.2 per cent as on December 31, 2023.
Meanwhile, the bank’s deposits rose to around Rs 23.80 trillion as on March 31, 2024, 26.4 percent from Rs 18.83 trillion as on March 31, 2023.
On a sequential basis, it was almost 7.5 percent higher at Rs 22.14 trillion as of December 31, 2023.
In the quarter under review, the bank’s retail deposits grew by 27.8 percent compared to the same period a year ago and by approximately 6.9 percent compared to December 31, 2023.
The lender’s wholesale deposits increased 19.4 percent as of March 31, 2023, and approximately 10.9 percent from deposits as of December 31, 2023.
Meanwhile, Casa deposits (current account savings account) stood at nearly Rs 9.09 trillion as on March 31, 2024, growing almost 8.8 percent from Rs 8.36 trillion as of December 31, 2023. Retail Casa grew by approx. 6.3 percent by December 31, 2023.
The bank’s Casa ratio was approximately 38.2 percent as of March 31, 2024. For comparison, the ratio was 44.4 percent on March 31, 2023 and 37.7 percent on December 31, 2023.
First print: April 4, 2024 | 3:47 PM IST