Loans given by HDFC Bank increase y-o-y by 17% in March quarter

5 Apr 2023 , 10:55 AM

HDFC Bank, a prominent private lender, experienced robust loan growth in the March quarter, with a nearly 17% increase compared to the same period the previous year. As of March 2023, the bank’s advances amounted to Rs 16 lakh crore, while they stood at Rs 13.6 lakh crore in March 2022.

In a filing, HDFC Bank stated that their advances grew by approximately 21.3% compared to March 2022, excluding transfers through inter-bank participation certificates and bills rediscounted. Additionally, their advances grew by approximately 6.5% compared to December 2022.

During the same period, HDFC Bank’s domestic retail loans experienced a year-on-year (YoY) growth of around 21%, while commercial and rural banking loans surged by 30% compared to the March 2022 period.

HDFC Bank’s fourth quarter business update revealed that corporate and other wholesale loans witnessed a significant increase of 12.5% during the period ending March 2023.

During the quarter, HDFC Bank’s retail deposits rose by approximately Rs 1.06 lakh crore, resulting in a 23.5% increase compared to March 2022 quarter and a 7.5% increase compared to December 2022. Wholesale deposits, on the other hand, experienced a surge of 10% during the same period.

As of March 2023, HDFC Bank’s CASA deposits stood at Rs 8.36 lakh crore, indicating a growth of approximately 11% compared to the same period last year when it was at Rs 7.51 lakh crore. 

HDFC Bank’s CASA ratio, which indicates the proportion of current and savings account deposits to total deposits, was at approximately 44% as of March 2023. This is a decline from the previous year when it was 48.2%, but similar to the ratio of 44% recorded in December 2022.

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