HDFC Bank shares Q3 business update, says advances jump 62.4%, deposits 27.7%

HDFC Bank Ltd on Friday said its gross advances soared 62.4 per cent to Rs 24,69,500 crore as on December 31, 2023, compared with Rs 15,20,500 crore as on December 31, 2022. On a sequential basis, advances were up 4.9 per cent over Rs 23,54,600 crore as on September 30, 2023. Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances were up 60.7 per cent over December 31, 2022 and around 3.8 per cent over September 30, 2023.

Following the business update, the hdfcbank-share-price-362936" target="_blank">HDFC Bank stock was trading 0.20 per cent lower at Rs 1,686.70 on BSE.

"As per the bank's internal business classification, domestic retail loans grew by around 111 per cent over December 31, 2022 and around 3 per cent over September 30, 2023; commercial & rural banking loans grew by around 31.5 per cent over December 31, 2022 and around 6.5 per cent over September 30, 2023; corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by around 11 per cent over December 31, 2022 and around 2 per cent over September 30, 2023," the private lender said.

HDFC Bank's deposits aggregated to approximately Rs 22,14,000 crore as on December 31, 2023, a growth of 27.7 per cent over Rs 17,33,200 crore as on December 31, 2022 and a growth of around 1.9 per cent over Rs 21,72,900 crore as on September 30, 2023.

Retail deposits, HDFC Bank said, increased by around Rs 53,000 crore during the quarter, and grew by around 28.4 per cent over December 31, 2022 and around 2.9 per cent over September 30, 2023; wholesale deposits grew by around 24.4 per cent over December 31, 2022 and were lower by around 3.4 per cent over September 30, 2023.

The bank’s CASA deposits aggregated to Rs 8,35,500 crore as on December 31, 2023, a growth of around 9.5 per cent over Rs 7,63,000 crore as on December 31, 2022 and around 2.2 per cent over Rs 8,17,700 crore as on September 30, 2023. Retail CASA grew 10 per cent over December 31, 2022 and 2.3 per cent over September 30, 2023.

HDFC Bank's CASA ratio stood at around 37.7 per cent as of December 31, 2023, as compared to 44 per cent as of December 31, 2022 and 37.6 per cent as of September 30, 2023.

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