HDFC Bank Q3 insights: Gross advances grew 62% y-o-y to Rs 24.69 lakh crore

5 Jan 2024 , 11:23 AM

HDFC Bank, India’s largest private lender, reported a 62.4% y-o-y increase in gross advances for the quarter ending December 31, 2023, to Rs 2,469,500 crore from Rs 1,520,500 crore in the previous corresponding period. Gross advances increased 4.9% sequentially to Rs 2,354,600 crore in the September quarter.

Grossing up for transfers via inter-bank participation certificates and rediscounted bills, HDFC Bank’s advances increased 60.7% year-on-year (YoY) and 3.8% quarter-on-quarter (QoQ), according to the company’s filing with the bourses.

Domestic retail loans increased 111% year-on-year and roughly 3% quarter-on-quarter, while commercial and rural bank loans increased 31.5% year-on-year and 6.5% quarter-on-quarter. The erstwhile HDFC Limited’s corporate and other wholesale loans, excluding non-individual loans, increased by 11% year-on-year and 2% quarter-on-quarter.

The bank’s deposits were around Rs 2,214,000 crore in the reporting quarter, a 27.7% increase over the previous year’s figure of Rs 1,733,200 crore. It increased by 1.9% year-on-year. In the September 2023 quarter, the company recorded deposits totaling Rs 2,172,900 crore.

Retail deposits climbed by roughly Rs 53,000 crore during the quarter, up 28.4% y-o-y and 2.9% sequentially. Wholesale deposits increased by 24.4% year-on-year and 3.4% quarter-on-quarter.

As of December 31, 2023, the CASA ratio was about 37.7%, compared to 44% in December 31, 2022, and 37.6% in September 30, 2023.

The bank’s CASA deposits were around Rs 835,500 crore in the reported quarter, representing a 9.5% increase over Rs 763,000 crore reported in Q3FY23 and a 2.2% increase over Rs 817,700 crore reported in Q2FY24. Retail CASA increased by roughly 10% year on year and 2.3% quarter on quarter.

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