Q1FY23 advances of HDFC Bank grow 1.9% sequentially, stock marginally up

4 Jul 2022 , 12:59 PM

As of June 30, 2022, HDFC Bank’s advances totalled Rs13,950 billion, up 1.9% from the Rs13,688 billion earned during the January-March 2022 quarter.

Gross of transactions made using rediscounted interbank participation certificates and bills, advances increased by almost 22.5% on a YoY basis and 2.8% sequentially, the bank updated the stock exchanges on July 4.

Compared to the year-ago quarter, retail loans increased by 21.5%, commercial and rural banking loans by about 29.0%, and corporate and other wholesale loans by about 15.5%. Sequentially, loans of these segment grew 5.0%, 3.0% and remained flattish, respectively.

HDFC Bank’s deposits stood at ~Rs16,050 billion as on June 30, growing almost 19.3% over Rs13,458 billion in the year ago quarter. Sequentially, deposits grew 2.9%. Deposit growth was roughly 18.5% for retail and 22.5% for wholesale as compared to the June 2021 quarter. 

As of June 30, the Bank’s CASA deposits totaled roughly Rs7,345 billion, an increase of about 20.1% over Rs6,118 billion from the previous year and a decrease of about 2.2% from Rs7,510 billion as of March 31, 2022.

By comparison to 45.5% last year and 48.2% in the March quarter, the CASA ratio was 46% as of June 30.

The largest private sector lender in the nation bought loans of Rs95.33 billion through direct assignment during the three months ended June 2022 as part of the home loan agreement with Housing Development Finance Corporation Limited.