HDFC Bank's advances rise 62.4% to Rs 24.7 trn in December quarter

In its exchange filing, the lender added that the figures for December 2023 included the business operations of HDFC as well and hence cannot be directly compared with the year ago period

The largest private sector lender, HDFC Bank, clocked 62.4 per cent year-on-year (YoY) growth in gross advances at Rs 24.69 trillion as of December 31, 2023.

Sequentially, the advances rose by nearly 4.9 per cent from Rs 23.55 trillion as of September 30, 2023.

In its exchange filing, the lender added that the figures for December 2023 included the business operations of HDFC as well and hence cannot be directly compared with the year ago period.

The lender noted that according to its internal classification, domestic retail loans surged over 110 per cent (YoY). Commercial & rural banking loans improved by nearly 31.5 per cent and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 11.0 per cent.

During the reported time period, total deposits reached approximately Rs 22.14 trillion, rising nearly 27.7 per cent from Rs 17.33 trillion from December 31, 2022 and had a sequential growth of around 1.9 per cent from quarter ended in September 30, 2023.

Retail deposits of the private sector major rose by Rs 53,000 crore during the quarter, and grew by around 28.4 per cent over December 31, 2022. Meanwhile, the wholesale deposits saw an improvement by around 24.4 per cent from December 31, 2022. However, sequentially it declined by nearly 3.4 per cent from Q2FY24.

Meanwhile, the bank’s CASA deposits rose 9.5 per cent to Rs 8.35 trillion as of December 31, 2023, from Rs 7.63 trillion as of December 31, 2022.

The CASA ratio of the private bank dropped to 37.7 per cent as of December 31, 2023, from 44 per cent as of December 31, 2022. However, it saw a marginal uptick from 37.6 per cent as of September 30, 2023.

At 11.20 AM, HDFC Bank shares were trading at Rs 1677.25, down 0.76% from the previous close, while the broader indices were up marginally.