HDFC Bank shares in focus as the lender shares March quarter updates

Shares of HDFC Bank will be in focus on Thursday' trading session after the largest private lender shares its updates for the quarter ended on March 31, 2024. The company announced its quarterly earnings before the opening bell for the session.

In its exchange filing with the bourses, HDFC Bank said that its gross advances aggregated to Rs 25.08 lakh crore as of March 31, 2024, registering a growth of around 55.4 per cent on a year-on-year (YoY) basis from Rs 16.14 lakh crore as of March 31, 2023. On a quarter-on-year basis (QoQ), it grew 1.6 per cent from Rs 24.69 lakh crore as of December 31, 2023.

HDFC Bank's domestic retail loans surged 108.9 per cent YoY and 3.7 per cent QoQ,; commercial & rural banking loans grew 24.6 per cent YoY and 4.2 per cent QoQ; corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC) rose 4.1 per cent YoY but dropped 2.2 per cent QoQ, as per the Bank's internal business classification.

Deposits of HDFC Bank aggregated to Rs 23.8 lakh crore as of March 31, 2024, registering a growth of around 26.4 per cent YoY, which was Rs 18.83 lakh crore as of March 31, 2023. The sequential growth came in at 7.5 per cent from Rs 22.14 lakh crore as of December 31, 2023, said the private lender.

Retail deposits increased 27.8 per cent YoY and 6.9 per cent sequentially while wholesale deposits showed a growth of 19.4 per cent YoY and 10.9 per cent from December 2023 quarter. HDFC Bank's CASA deposits aggregated to approximately Rs 9.09 lakh crore as of March 31, 2024, a growth of around 8.7 per cent YoY and 8.8 per cent QoQ.

Shares of HDFC Bank jumped about 3 per cent during the early trading session on Thursday to Rs 1525. The lender commanded a total market capitalization of close to Rs 11.75 lakh crore. The stock had settled at Rs 1482.55 on Wednesday, rising marginally for the session.