Advances Up 16.9%, Deposits 20.8%; Retail Loans Grew By 21%

HDFC Bank’s advances climbed 16.9% and deposits 20.8% within the March quarter of the fiscal 12 months 2022-23 from the year-ago interval, the non-public lender stated on April 3.

The financial institution’s advances aggregated to round Rs 16 lakh crore as of March 31, 2023, marking a development of round 16.9% from the year-ago interval, the lender stated in an alternate submitting.

As per the financial institution’s inside enterprise classification, home retail loans grew by 21% on-year, whereas company and different wholesale loans noticed a rise of 12.5%.

Deposits stood at Rs 18.83 lakh crore on the finish of FY23, round 20.8% larger from Rs 15.59 lakh crore as of March 31, 2022, Moneycontrol reported.

Retail deposits elevated by round 1.06 lakh crore in the course of the quarter, which is 23% larger than the year-ago interval, the financial institution stated. Wholesale deposits grew by round 10% over March 31, 2022, it added.

HDFC Bank’s CASA (present account and financial savings account) deposits aggregated to roughly Rs 8.36 lakh crore on the finish of FY23, up 11.3% from Rs 7.51 lakh crore within the year-ago interval.

The CASA ratio stood at round 44% on the finish of the fourth quarter, down from 48.2% within the corresponding interval of the earlier fiscal 12 months.

HDFC Bank reported a internet revenue of Rs 12,698 crore in Q3 FY23, 19.9% larger than the year-ago interval. Net curiosity revenue in the course of the quarter climbed 24.6% YoY to Rs 22,987.8 crore.

In the primary buying and selling session of FY24, the financial institution’s shares ended flat at Rs 1,610 apiece.

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