HDFC Bank Q4 advances surge by 17% to Rs 16 lakh crore, deposits up 21%

Private lender HDFC Bank reported solid loan growth in the March quarter, with advances totaling around Rs 16 lakh crore, a 16.9 percent increase over Rs 13.6 lakh crore in the same quarter last year.According to a press release, the bank’s domestic retail loans increased by around 21% in March 2023 compared to the same month last year.

During the same period last year, commercial and rural banking loans increased by around 30% year on year.

“Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank’s advances increased by approximately 21.3 percent over March 2022, and approximately 6.5 percent over December 2022,” HDFC Bank said in a statement. Corporate and other wholesale loans increased by around 12.5% in the year ending March 2023.

HDFC Bank

According to HDFC’s fourth quarter update, the bank’s total deposits totaled around Rs 18.8 lakh as of March 2023, a 20.8 percent increase over Rs 15.5 lakh crore as of March 2022.

Retail deposits increased by approximately Rs 1.06 lakh crore during the quarter and by approximately 23.5 percent over March 2022. Over March 2022, wholesale deposits increased by about 10%.

HDFC Bank’s CASA deposits reached Rs 8.36 lakh crore in March 2023, representing an 11.3 percent increase over Rs 7.51 lakh crore in March 2022 and a 9.6 percent increase.

Over March 31, 2022, the bank’s retail CASA increased by approximately 12.5%.

As of March 2023, the bank’s CASA ratio was around 44 percent, down from 48.2 percent in March 2022.

During the fiscal quarter ended March 31, 2023, the bank purchased loans totaling Rs 9,340 crore.