HDFC Bank loans rose 21.5% year-on-year in Q1 to Rs 13.95 billion, deposits up 19.3%

India’s largest private lender, HDFC Bank, reported a 21.5% year-on-year (YoY) growth in advances to Rs 13.95 trillion in the first quarter of FY23.

The advances stood at 11.48 trillion rupees as of June 30, 2021. On a sequential basis, the bank’s lending increased by 1.9% from 13.69 trillion rupees as of March 31, 2022, informed the lender.

As of June 30, 2022, HDFC Bank’s deposits registered a year-on-year increase of 19.3% to reach 16.05 trillion rupees from 13.46 trillion rupees a year ago. On a quarterly basis, the bank’s deposits increased by 2.9% from 15.59 trillion rupees as of March 31, 2022.

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Retail lending grew about 21.5% year-on-year in the first quarter and about 5% on a sequential basis, HDFC Bank said, adding that commercial and rural bank lending saw growth of about 29% year-on-year and 3% quarter-on-quarter. (QoQ).

In April-June, corporate and other wholesale loans increased by around 15.5% year-on-year and remained at levels similar to those seen on March 31, 2022, HDFC Bank said.

“Gross of transfers through interbank participation certificates and rediscounted bills, advances from the bank increased by approximately 22.5% as at June 30, 2021 and by approximately 2.8% as at March 31, 2022”, informed the scholarship lender.

For the reporting period, HDFC Bank’s retail deposits increased approximately 18.5% year-on-year and 3.5% sequentially. Wholesale deposits were up approximately 22.5% from June 30, 2021 and 0.5% from March 31, 2022.

Current account savings account deposits totaled around 7.35 trillion rupees as of June 30, 2022, reflecting growth of around 20.1% from 6.12 trillion rupees a year ago. On a sequential basis, however, HDFC Bank’s CASA deposits fell by 2.2% from 7.51 trillion rupees as of March 31, 2022.

The CASA ratio was 46% as of June 30, 2022, compared to 45.5% as of June 30, 2021 and 48.2% as of March 31, 2022.

In April-June, HDFC Bank purchased loans totaling Rs 9,533 crore through the direct assignment route under the housing loan agreement with the Housing Development Finance Corporation.

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