HDFC Bank-HDFC's combined loan book up 13.1%; deposits up 16.2% in Q1

Sequentially, merged entity's advances rose by 0.7% to Rs 22.30 trillion as of March 31

HDFC Bank and HDFC Ltd’s combined loan book expanded by 13.1 per cent year-on-year (YoY) to Rs 22.45 trillion at the end of June 30, 2023 (Q1Fy24). The merged entity’s deposits grew by 16.2 per cent YoY at Rs 20.63 trillion at the end of the first quarter.

Sequentially, the merged entity’s advances rose by about 0.7 per cent to Rs 22.30 trillion as of March 31, 2023. However, the pace of deposit mobilisation was higher at 1.2 per cent over Rs 20.39 trillion as of March 31, 2023.

The merged entity's average Liquidity Coverage Ratio (LCR) was around 120 per cent for the quarter ended June 30, 2023.

The country’s largest private sector lender gave out details about the performance for the merged entity on a proforma basis. Mortgage major Housing Development Finance Corporation (HDFC) amalgamated with and into HDFC Bank on July 1, 2023.