HDFC Bank loans rose 21.5% YoY in Q1 to Rs 13.95 trn, deposits up 19.3%

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India’s largest private lender reported 21.5 per cent year-on-year (YoY) growth in advances to Rs 13.95 trillion in Q1 FY23.

The advances were at Rs 11.48 trillion on June 30, 2021. On a sequential basis, the bank’s loans grew 1.9 per cent from Rs 13.69 trillion on March 31, 2022, the lender informed exchanges.

As of June 30, 2022, HDFC Bank’s deposits registered a YoY rise of 19.3 per cent to Rs 16.05 trillion from Rs 13.46 trillion a year ago. On a quarterly basis, the bank’s deposits climbed 2.9 per cent from Rs 15.59 trillion as of March 31, 2022.

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grew by around 21.5 per cent YoY in Q1 and approximately 5 per cent on a sequential basis, said, adding that commercial and rural banking loans registered a growth of around 29 per cent YoY and 3 per cent quarter-on-quarter (QoQ).

In April-June, corporate and other wholesale loans rose by roughly 15.5 per cent YoY and remained at levels similar to those observed on March 31, 2022, said.

“Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 22.5 per cent over June 30, 2021, and around 2.8 per cent over March 31, 2022,” the lender informed bourses.

For the period under review, HDFC Bank’s retail deposits grew around 18.5 per cent YoY and 3.5 per cent sequentially. Wholesale deposits registered a rise of roughly 22.5 per cent over June 30, 2021, and 0.5 per cent over March 31, 2022.

Current account savings account deposits aggregated to around Rs 7.35 trillion as of June 30, 2022, reflecting growth of around 20.1 per cent from Rs 6.12 trillion a year ago. On a sequential basis, however, HDFC Bank’s CASA deposits fell 2.2 per cent from Rs 7.51 trillion on March 31, 2022.

The CASA ratio was 46 per cent on June 30, 2022, against 45.5 per cent on June 30, 2021, and 48.2 per cent on March 31, 2022.

In April-June, HDFC Bank bought loans aggregating to Rs 9,533 crore through the direct assignment route under the home loan arrangement with Housing Development Corporation.

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