HDFC Bank, India’s largest private sector lender, announced a 7% year-on-year increase in gross advances, reaching ₹25.19 lakh crore as of September 30, 2024, up from ₹23.54 lakh crore a year earlier. The bank’s total advances under management, which include adjustments for inter-bank participation certificates and securitisation, grew approximately 8% YoY to ₹26.33 lakh crore from ₹24.37 lakh crore.
Sequentially, advances under management saw a 2.3% increase from ₹25.75 lakh crore as of June 30, 2024. In the latest quarter, retail loans surged by about ₹33,800 crore, while commercial and rural banking loans rose by around ₹38,000 crore. However, corporate and wholesale loans experienced a decline of ₹13,300 crore compared to the previous quarter.
In terms of deposits, HDFC Bank reported a substantial growth of 15.1%, bringing the total to ₹25 lakh crore in Q2FY25, up from ₹21.73 lakh crore in the same quarter last year. Sequentially, deposits increased by approximately 5.1% from ₹23.79 lakh crore as of June 30, 2024. The bank’s CASA (Current Account Savings Account) deposits rose 8% YoY and 2.3% quarter-on-quarter, totaling ₹8.83 lakh crore.
HDFC Bank maintained a healthy liquidity coverage ratio of around 127% for the quarter. In a recent block deal, Morgan Stanley and Citigroup acquired 43.75 lakh shares of HDFC Bank for ₹755.29 crore, with shares trading at ₹1,677.45 apiece as of 9:45 AM on October 4.
Overall, HDFC Bank’s performance highlights its robust growth strategy and strong position in the Indian banking sector, amidst a competitive landscape.