HDFC Bank Q3 Update: Total Advances Increase by 62% to INR 24.69 Lakh Crore
HDFC Bank, India's largest private lender, reported a 62.4% growth in its total advances for the quarter ending December 31, 2023. The total advances stood at INR 2,469,500 Crore, compared to INR 1,520,500 Crore as of December 31, 2022, marking a significant increase. The sequential growth in total advances was 4.9%, while it was INR 2,354,600 Crore in the September quarter.
The bank attributed the increase in advance figures to inter-bank participation certificates, transfer through bills of exchange, and repayments. On a year-on-year basis, the advance amount increased by 60.7%, and on a quarter-on-quarter basis, it saw a 3.8% growth, as reported in the filing to the exchanges.
In the domestic retail loan segment, there was an annual increase of 111% and a nearly 3% growth on a quarter-on-quarter basis. Commercial and rural banking loans witnessed an annual increase of 31.5% and a quarter-on-quarter growth of 6.5%. Corporate and other wholesale loans, excluding non-individual loans from the predecessor HDFC Limited, showed an annual growth of 11% and a quarter-on-quarter growth of 2%.
HDFC Bank's Q3 Deposits
As of the reported quarter, the total deposit amount for the bank was approximately INR 2,214,000 Crore, showing a significant YoY increase of 27.7% from INR 1,733,200 Crore in the corresponding period last year. On a quarter-on-quarter basis, it increased by 1.9%. The company had reported total deposits of INR 2,172,900 Crore in the September 2023 quarter.
During the quarter, retail deposits increased by approximately INR 53,000 Crore, with an annual growth of 28.4% and a quarter-on-quarter growth of around 2.9%. Wholesale deposits showed an annual growth of 24.4% and a quarter-on-quarter growth of 3.4%.
The quarterly report also mentioned that the bank's CASA (Current Account Savings Account) deposits were approximately INR 835,500 Crore. This amount was approximately 9.5% higher than the INR 763,000 Crore reported in Q3FY23 and 2.2% higher than the INR 817,700 Crore reported in Q2FY24. Retail CASA saw an approximate 10% YoY growth and a 2.3% QoQ growth.
CASA Ratio
As of December 31, 2023, the CASA ratio was approximately 37.7%, compared to 44% as of December 31, 2022, and 37.6% as of September 30, 2023.
Market Update
Before the market opened, the stock on the NSE (National Stock Exchange) experienced a 0.74% decline, reaching a day's low of INR 1,678.25.
Note: The information is based on updates provided before the market opened.
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