Excluding the impact of the bank’s merger with erstwhile HDFC on July 1, 2023, the bank’s total loans grew 15% year-on-year.
Advances under the bank’s control (gross amount through interbank participation instruments, bill rediscounting and securitisation/transfer) stood at Rs 25.7 billion as on June 2024.
During the quarter, retail loans increased by about Rs 18,600 crore, commercial and rural bank loans increased by about Rs 7,200 crore, while corporate and other wholesale loans decreased by Rs 26,600 crore quarter-on-quarter.
HDFC Bank’s deposits grew 24% year-on-year to Rs 23.79 billion in the reported first quarter, up from Rs 19.13 billion in the second quarter last year. Deposits were at the same level as Rs 23.79 billion in the third quarter. Excluding the impact of the July 2023 merger, the bank’s deposits grew 16.5% year-on-year. The bank’s CASA deposits stood at Rs 8.63 billion at the end of the second quarter, up about 6% from Rs 8.1 billion. Current account balances fell by Rs 42.5 billion during the quarter, the bank said in a filing.
The bank’s average deposit balance for the June 2024 quarter was Rs 22.83 trillion, up 25.2% from Rs 18.2 trillion in the June 2023 quarter and up 4.6% from the previous March 2024 quarter.
The institution’s average CASA deposits in the first quarter stood at Rs8.1 trillion, up 8.1 percent from Rs7.49 trillion in the same period last year.
HDFC Bank’s liquidity coverage ratio (average) stood at around 123% in the first quarter.
On Thursday, HDFC Bank shares closed 2.3 per cent down at Rs 1,728 on the NSE.
