HDFC Bank Q4 advances surge by 17% to Rs 16 lakh crore, deposits up 21%

Private lender HDFC logged a decent loan growth for the March quarter with the bank’s advances aggregated to around Rs 16 lakh crore, a growth of around 16.9 per cent over Rs 13.6 lakh crore in the same quarter last year.

In a press note, the bank said that its domestic retail loans grew by around 21 per cent in March 2023 as compared to the same month last year 2022.

Meanwhile, commercial and rural banking loans increased by around 30 per cent year-on-year during the same period last year.

"Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances grew by around 21.3 per cent over March 2022, and around 6.5 per cent over December 2022," HDFC Bank said in a filing.

The corporate and other wholesale loans surged by around 12.5 per cent in the period ending March 2023.

According to the fourth quarter update by HDFC, the bank’s total deposits aggregated to around Rs 18.8 lakh as of March 2023, a growth of around 20.8 per cent over Rs 15.5 lakh crore as of March 2022.

Retail deposits surged by around Rs 1.06 lakh crore during the quarter, and grew by around 23.5 per cent over March 2022. The wholesale deposits rose by around 10 per cent over March 2022.

HDFC Bank’s CASA deposits reached to Rs 8.36 lakh crore as of March 2023, which is a growth of around 11.3 per cent over Rs 7.51 lakh crore as of March, 2022 and a growth of around 9.6 per cent.

The bank's retail CASA surged by around 12.5 per cent over March 31, 2022.The bank’s CASA ratio stood at around 44 per cent as of March 2023, as compared to 48.2 per cent March 2022.

During the quarter ended March 31, 2023, the bank purchased loans aggregating Rs 9,340 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC).

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