HDFC Bank, the largest private sector lender in India, experienced some notable changes in its loan book and deposits during the June quarter of 2024.
Loan Book and Deposits:
- The bank’s gross advances stood at Rs 24.87 trillion as of June 30, 2024, compared to Rs 25.08 trillion on March 31, 2024, representing a sequential decrease of 0.8%. However, excluding the impact of the merger of erstwhile housing financier HDFC with HDFC Bank, the advances grew by 14.9% year-on-year.
- The deposit book as of June 30, 2024, was Rs 23.79 trillion, almost flat compared to the previous quarter. However, deposits grew by 16.5% year-on-year, excluding the impact of the merger.
Current and Savings Account Deposits (Casa):
- The current and savings account deposits (Casa), which are important indicators of margins, decreased by 5% sequentially to Rs 8.64 trillion from Rs 9.08 trillion.
- However, the bank reported that its Casa deposits were Rs 8.6 trillion as of June 30, 2024, showing a 6.2% increase compared to the same quarter last year. This was in comparison to Rs 9.08 trillion as of March 31, 2024, which had seen a seasonal impact.
Loan Growth by Segment:
- During the quarter, retail loans grew by around Rs 18,600 crore, commercial and rural banking loans grew by around Rs 7,200 crore, and corporate and other wholesale loans fell by Rs 26,600 crore compared to March 31, 2024.
Other Insights:
- The bank’s liquidity coverage ratio (average) was around 123% for the quarter.
RBL Bank’s Performance
In addition to HDFC Bank, RBL Bank, another private sector lender, also experienced changes in its deposits and loan growth during the June quarter of 2024.
Deposits and Loan Growth:
- RBL Bank’s deposits fell to Rs 1.01 trillion in June-end from Rs 1.03 trillion in the March quarter. On a year-on-year basis, the deposit growth was 18%. Casa deposits also fell to Rs 32,996 crore from Rs 36,448 crore. The proportion of Casa deposits to total deposits was 32.6% in June-end, down from 35.2% in March-end.
- The bank reported a loan growth of 3% on a sequential basis to Rs 88,455 crore. Advances also grew by 18% year-on-year.