April 5, 2024
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HDFC Bank Q4FY24 Update: Gross advances up 55.4% at Rs 25,080 billion
HDFC Bank on Thursday announced that its gross advances as of March 31, 2024 aggregated to Rs 25,080 billion, reporting a growth of 1.6 per cent (Rs 387 billion) over Rs 24,693 billion as of December 31, 2023. Gross advances increased by 55.4 per cent on-year in comparison to Rs 16,142 billion as of March 31, 2023
“Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 53.8 per cent over March 31, 2023 and around 1.9 per cent (Rs 472 billion) over December 31, 2023,” HDFC Bank said in a regulatory filing.
The private lender said that its domestic retail loans grew by 108.9 per cent on-year and by 3.7 per cent (Rs 437 billion) over December 31, 2023. Meanwhile, its commercial & rural banking loans grew by 24.6 on-year and went up by 4.2 per cent (Rs 323 billion) sequentially. The corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by 4.1 per cent on YoY basis and went down by 2.2 per cent (Rs 98 billion) over December 31, 2023.
HDFC Bank’s deposits aggregated to Rs 23,800 billion as of March 31, 2024, posting a growth of 26.4 per cent as against Rs 18,834 billion during the same period last year. It increased by 7.5 per cent (Rs 1,660 billion) over Rs 22,140 billion as of December 31, 2023.
Retail deposits, HDFC Bank said, grew by 27.8 per cent over March 31, 2023 and by 6.9 per cent (Rs 1,280 billion) sequentially; and wholesale deposits grew by 19.4 per cent on YoY basis and by 10.9 per cent (Rs 380 billion) over December 31, 2023.
The Bank’s CASA deposits aggregated to Rs 9,090 billion as of March 31, 2024, posting a growth of 8.7 per cent over Rs 8,360 billion as of March 31, 2023 and it grew by 8.8 per cent (Rs 734 billion) over Rs 8,356 billion as of December 31, 2023. Retail CASA grew by 8.8 per cent over March 31, 2023 and by 6.3 per cent (Rs 479 billion) over December 31, 2023. Further, the bank said that its CASA ratio stood at around 38.2 per cent as of March 31, 2024, as compared to 44.4 per cent as of March 31, 2023 and 37.7 per cent as of December 31, 2023.
It must be noted that HDFC Bank was merged with HDFC Limited on July 01, 2023, and per the exchange filing by the private lender, the figures for the period ended March 31, 2024 include the operations of erstwhile HDFC Limited.
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