HDFC Bank said its gross advances at the end of the March quarter rose 1.6% to 25.08 trillion rupees ($300.44 billion) from the December quarter.
The bank’s deposits in the March quarter rose 7.5% to 23.8 trillion rupees from the December quarter. Gross advances at ₹16.14 lakh crore in the corresponding period of the previous financial year and rose over ₹24.69 lakh crore as of December 31, 2023, the bank informed.
The private lender said that its domestic retail loans grew by around 108.9% over March 31, 2023 and around 3.7% or ₹43,700 crore over December 31, 2023. In March, the commercial & rural banking loans grew by around 24.6% while it grew around 4.2% quarter-on-quarter (QoQ). With respect to corporate and other wholesale loans, the growth was around 4.1% over March 31, 2023, the filing said.
As of March 31, 2024, HDFC Bank’s deposits aggregated to ₹23.80 lakh crore- up 26.4% over ₹18.83 lakh crore reported at the end of corresponding quarter. On quarterly basis, the growth was around 7.5%, the lender noted.
At the same time, retail deposits grew by around 27.8% YoY and around 6.9% QoQ. Wholesale deposits grew by around 19.4% YoY and around 10.9% QoQ, it said.
The filing also showed that retail CASA grew by around 8.8% over March 31, 2023, and 6.3% over December 31, 2023 while the CASA ratio stood at around 38.2% as of March 31, 2024, against 44.4% in the same quarter last yea.