According to HDFC Bank, its gross advances increased 1.6% from the December quarter to 25.08 trillion rupees ($300.44 billion) at the end of the March quarter. The bank’s deposits increased by 7.5% from December to 23.8 trillion rupees in March. According to the bank, gross advances increased to over ₹24.69 lakh crore as of December 31, 2023, from ₹16.14 lakh crore in the same period of the previous financial year.
According to the private lender, domestic retail loan growth was around 108.9% as of March 31, 2023, and 3.7%, or ₹43,700 crore, as of December 31, 2023. The growth in commercial and rural banking loans in March was around 24.6%, with a quarter-over-quarter (QoQ) growth of 4.2%. The statement stated that corporate and other wholesale loan growth was approximately 4.1% as of March 31, 2023.
Deposits held by HDFC Bank as of March 31, 2024, totalled ₹23.80 lakh crore, a 26.4% increase over the ₹18.83 lakh crore recorded at the end of the preceding quarter. The lender reported that the growth was approximately 7.5% every quarter.
Concurrently, there was an approximate growth of 27.8% YoY and 6.9% QoQ in retail deposits. According to the report, wholesale deposits increased by roughly 10.9% QoQ and 19.4% YoY.
The report also revealed that, compared to March 31, 2023, retail CASA increased by about 8.8% and 6.3%, respectively, and that, as of March 31, 2024, the CASA ratio was approximately 38.2%, down from 44.4% during the same period the previous year.