HDFC Bank shares drop after Q2 update; key details

Shares of HDFC Bank Ltd were trading lower in Friday's trade after the private lender said its gross advances grew 7 per cent for the September quarter, while deposits were up 15.1 YoY for the same period.

HDFC Bank said its gross advances aggregated to Rs 25,19,000 crore as of September 30, a growth of 7 per cent over Rs 23,54,600 crore as of September 30, 2023. The private lender said deposits stood at Rs 25,00,000 crore as of September 30, 2024, a growth of around 15.1 per cent over Rs 21,72,900 crore as of September 30, 2023. Sequentially, the deposit growth came in at 5.1 per cent over the June quarter's Rs 23,79,100 crore.

HDFC Bank shares were down 0.49 per cent at Rs 1,673.95. The scrip has risen 10 per cent in the past six months but is down 1.45 per cent year-to-date.

Advances under management -- advances grossing up for inter-bank participation certificates, bills rediscounted and securitisation -- rose 8 per cent year-on-year (YoY) to Rs 26,33,500 crore as of September 30 from Rs 24,37,400 crore as of September 30, 2023. Sequentially, advances grew 2.3 per cent over Rs 25,75,000 crore as of June 30, the most-valued private bank said on Friday.

HDFC Bank said its retail loans grew around Rs 33,800 crore; commercial & rural banking loans grew Rs 38,000 crore; and corporate & other wholesale loans fell Rs 13300 crore over June 30, 2024.

"During the quarter ended September 30, 2024, the bank assigned loans of Rs 19,200 crore (year to date Rs 24,600 crore) as a strategic initiative," HDFC Bank said.

HDFC Bank's CASA deposits stood at Rs 8,83,500 crore as of September 30, 2024, a growth of around 8 per cent over Rs 8,17,700 crore as of September 30, 2023. The Bank’s time deposits came in at Rs 16,16,500 crore in Q2, up 19.3 per cent over Rs 13,55,200 crore YoY, and 6.7 per cent over Rs 15,15,500 crore QoQ.  This reflects customer preference for time deposits in this stage of the rate cycle.

The bank said its liquidity coverage ratio (average) stood at 127 per cent for the quarter.