HDFCBANK Advances up 1.6%, deposits rise 7.5% MoM

HDFC Bank Ltd on April 4 reported 1.6 percent growth in advances during January-March quarter of the financial year 2023-24. Total advances of the country’s largest private sector bank stood at Rs 25.08 lakh crore. Deposits grew 7.5 percent sequentially to Rs 23.8 lakh crore.

The numbers are not comparable year-on-year as HDFC Bank concluded the merger with Housing Development Finance Corp in July 2023.

The bank, in a stock exchange filing, said that domestic retail loans grew by around 108.9 percent on a YoY basis and around 3.7 percent sequentially. The commercial and rural banking loans grew by around 24.6 percent YoY and around 4.2 percent sequentially. Corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) of the bank grew 4.1 percent on an annual basis and dropped 2.2 percent sequentially.


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