HDFC Bank has provided an update on its performance for the quarter ending September 30, 2024 (Q2 FY25). On Friday, October 4, the bank announced that its total loans, including inter-bank loans, rediscounted bills, and loans it has sold or assigned, amounted to ₹26,335 billion as of September 30, 2024. This is an increase of 8% compared to ₹24,374 billion a year ago and a 2.3% rise from ₹25,750 billion as of June 30, 2024. Click here to check PNB Q2 Report. Click here to check BoB Q2 Report.
Here are the key highlights of the quarter:
Loan Growth:
- Retail loans (loans to individual customers) grew by ₹338 billion during the quarter.
- Commercial and rural loans (loans to small businesses and farmers) increased by ₹380 billion.
- Corporate and other wholesale loans (loans to large businesses) saw a decline of ₹133 billion compared to June 2024.
The bank’s gross loans stood at ₹25,190 billion by the end of September 2024, showing a 7% increase from ₹23,546 billion in September 2023. As part of its strategy, the bank also securitised (sold or transferred) loans worth ₹192 billion during the quarter, bringing the total for the financial year so far to ₹246 billion.
Deposits Growth:
HDFC Bank reported deposits totaling ₹25,000 billion as of September 2024, which represents a 15.1% growth compared to ₹21,729 billion in September 2023 and a 5.1% rise from ₹23,791 billion in June 2024.
The CASA deposits (current and savings accounts) reached ₹8,835 billion, reflecting an 8% growth compared to ₹8,177 billion a year ago and a 2.3% increase from ₹8,636 billion in June 2024. More details will be released soon. Click here to join our WhatsApp channel to stay updated.
Share Purchase by Morgan Stanley and Citigroup:
In another development, global financial institutions Morgan Stanley and Citigroup bought HDFC Bank shares worth over ₹755 crore on Thursday. According to data from the BSE, these two companies purchased 43.75 lakh shares of HDFC Bank at an average price of ₹1,726.2 per share, making the total transaction value ₹755.29 crore.
The shares were sold by BNP Paribas Financial Markets, a division of BNP Paribas, through two separate block deals at the same price. Last week, BNP Paribas had also sold HDFC Bank shares worth ₹543.27 crore.
This transaction shows continued investor interest in HDFC Bank, as major international financial institutions like Morgan Stanley and Citigroup buy large stakes.
