HDFC Bank targets nearly Rs 1-trillion deposit mop-up every quarter

In the recent roadshows, the bank's management sounded confident of its ability to deliver both loan growth as well as deposit growth, a report by Macquarie Research said on Monday

HDFC Bank is looking to accelerate its deposit mobilisation process as it gets closer to merger with HDFC. It is eyeing around Rs 1 trillion of deposits per quarter.

In recent roadshows in Singapore and Australia, the bank’s management, including managing director (MD) and chief executive officer (CEO) Sashidhar Jagdishan elaborated the lender’s strategy on growing its assets and liabilities.  

In the April-June quarter of FY23, the bank had mobilised Rs 45,543 crore worth of deposits while in Q4 of FY22, deposit mobilisation topped Rs 1 trillion.

Both State Bank of India (SBI) and ICICI Bank