HDFC Bank's aggregate advances grow 14.4% to Rs 11.47 lakh crore in June quarter

HDFC Bank on Monday reported a 14.4 per cent year-on-year (YoY) growth in its aggregate advances to Rs 11,47,500 crore at the end of June 2021 quarter, led by growth in retail loans.
 
On a sequential basis, the bank's aggregate advances rose 1.3 per cent from Rs 11,32,800 crore as on March 31, 2021, it said in an exchange filing.
 
While retail loans grew around 9 per cent YoY as of June 30, 2021, they were 1 per cent lower as compared to March 31, 2021. The fall in retail loans category during June quarter can be attributed to the second wave of COVID-19 pandemic which led to state governments imposing lockdowns and restrictions on economic activities across the country.
 
"...commercial and rural banking loans grew by around 25 per cent over June 30, 2020 and around 4 per cent over March 31, 2021; and other wholesale loans grew by around 10.5 per cent over June 30, 2020 and around 1.5 per cent over March 31, 2021," the private sector lender said.
 
The bank's retail disbursements during the quarter ending June stood at Rs 43,600 crore, a growth of around 202 per cent over Rs 14,400 crore disbursed during the corresponding period of the prior year, and around 30 per cent lower than Rs 62,500 crore disbursed during the previous quarter.
 
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The April-June period of 2020 was almost a washout for banks as a nationwide lockdown to control the spread of COVID-19 infections had brought economic activities to a halt.
 
HDFC Bank's deposits aggregated to approximately Rs 13,46,000 crore as of June 30, 2021, a growth of around 13.2 per cent over Rs 11,89,400 crore as of June 30, 2020 and a growth of around 0.8 per cent over Rs 13,35,100 crore as of March 31, 2021. Its current and savings account (CASA) deposits rose 28.2 per cent YoY to Rs 6,12,000 crore at the end of June quarter, while it contracted  0.6 per cent on a quarterly basis.
 
"The Bank's CASA ratio stood at around 45 per cent as of June 30, 2021, as compared to 40.1 per cent as of June 30, 2020 and 46.1 per cent as of March 31, 2021," the filing said.
 
During the quarter ended June 30, 2021, HDFC Bank purchased loans aggregating to Rs 5,489 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited (HDFC Ltd).
 
Meanwhile, Yes Bank reported a 0.4 per cent YoY contraction in its loans and advances to Rs 1,63,914 crore as of June 30, 2021, while the contraction was at 1.8 per cent on a quarterly basis.
 
Its CASA deposits grew 47.7 per cent YoY and 5.2 per cent on quarterly basis to Rs 44,790 crore at the end of June 2021 quarter.
 
Shares of HDFC Bank were trading 1.18 per cent higher at Rs 1,498.05 on the BSE during the afternoon trade on Monday, while Yes Bank shares were trading 0.52 per cent lower at Rs 13.49.

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