HDFC Bank Gross Advances increase to Rs 25.05 Trillion in Q4

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In the latest update from HDFC Bank, the gross advances for the March quarter saw a 1.6% increase, reaching 25.08 trillion rupees ($300.44 billion) compared to the previous quarter. The bank’s deposits also experienced growth, rising by 7.5% to 23.8 trillion rupees from the December quarter. These figures represent a significant increase from the corresponding period in the previous financial year, where gross advances were at ₹16.14 lakh crore. By December 31, 2023, the bank’s gross advances had risen to over ₹24.69 lakh crore.

HDFC Bank reported substantial growth in its domestic retail loans, with a remarkable increase of approximately 108.9% compared to March 31, 2023. In addition, the bank’s retail loans increased by around 3.7% or ₹43,700 crore from December 31, 2023. The commercial and rural banking loans also experienced growth, with a 24.6% increase in March and a 4.2% increase quarter-on-quarter (QoQ). Corporate and other wholesale loans saw a growth rate of 4.1% over the figures from March 31, 2023.

As of March 31, 2024, HDFC Bank’s deposits amounted to ₹23.80 lakh crore, representing a substantial 26.4% increase compared to the corresponding quarter. On a quarterly basis, the growth in deposits reached around 7.5%, as stated by the bank.

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The bank’s retail deposits showed significant growth, with a year-on-year (YoY) increase of approximately 27.8% and a quarter-on-quarter (QoQ) increase of around 6.9%. Wholesale deposits also experienced growth, with a YoY increase of approximately 19.4% and a QoQ increase of around 10.9%, according to the bank’s filing.

The filing also revealed that the retail Current Account Savings Account (CASA) grew by approximately 8.8% compared to March 31, 2023, and 6.3% compared to December 31, 2023. The CASA ratio stood at around 38.2% as of March 31, 2024, a decrease from the 44.4% reported in the same quarter of the previous year.

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