HDFC Bank.
| Photo Credit: REUTERS
Private sector lender HDFC Bank on Thursday stated its loan book crossed ₹25 lakh crore in the fourth quarter ended March 2024.
The financial institution’s gross advances aggregated to ₹25.08 lakh crore as of March 31, 2024, a development of 55.4% over ₹16.14 lakh crore as of March 31, 2023, HDFC Bank stated in a regulatory submitting.
The figures for the interval ended March 31, 2024 embrace the operations of erstwhile HDFC Ltd, which amalgamated with HDFC Bank on July 1, 2023 and therefore should not comparable with these of the corresponding interval of the earlier yr, it stated.
However, the loan development on quarter-to-quarter foundation elevated by marginal 1.6% as in comparison with ₹24.69 lakh crore on the finish of December 31, 2023. This development is comparable.
As per the financial institution’s inner enterprise classification, home retail loans grew round 109% over March 31, 2023 and round 3.7% over December 31, 2023.
The financial institution’s business and rural banking loans grew 24.6% over March 31, 2023 and round 4.2% over December 31, 2023, it stated.
The company and different wholesale loans, excluding non-individual loans of the erstwhile HDFC Ltd, grew round 4.1% over March 31, 2023.
The financial institution’s deposits aggregated to Rs 23.8 lakh crore as of March 31, 2024, a year-on-year development of round 26.4% over ₹18.83 lakh crore and of round 7.5% over ₹22.10 lakh crore as of December 31, 2023.
“Retail deposits grew by around 27.8% over March 31, 2023 and around 6.9% (₹1.2 lakh crore) over December 31, 2023; wholesale deposits grew by around 19.4% over March 31, 2023 and around 10.9% (₹38,000 crore) over December 31, 2023,” it stated.
Current Account Saving Account (CASA) deposits aggregated to roughly ₹9 lakh crore as of March 31, 2024, a development of round 8.7% over the year-ago interval.
In a separate submitting, Jaipur-based AU Small Finance Bank (SFB) stated it has posted 25% development in advances to ₹73,999 crore in the March quarter.
Total advances stood at ₹59,158 crore on the finish of the fourth quarter of the final monetary yr.
The financial institution’s deposits rose by 26% to ₹87,182 crore throughout the quarter from ₹69,365 crore in the year-ago interval, it stated.
Post receiving RBI approval on March 4, 2024, the merger of Fincare SFB with AU SFB grew to become efficient from April 1, 2024, and the deposit charges on the acquired branches have been aligned to AU deposit charges with impact from April 1, 2024.
Further, the combination course of is predicted to get accomplished over the subsequent 9 months, it stated.
