HDFC Bank, India’s largest private sector bank, recorded gross advances of ₹25.08 lakh crore as of March 31, indicating a significant growth of approximately 55.4% compared to ₹16.14 lakh crore reported as of March 31 of the previous year.
Sequentially, HDFC Bank’s advances witnessed a modest increase of 1.6%, rising from ₹24.69 lakh crore in December 2023.
Factoring in transfers via inter-bank participation certificates and bills rediscounted, the bank’s advances expanded by approximately 53.8% compared to March 31, 2023, and by about 1.9% (₹472 billion) compared to December 31, 2023.
It’s worth mentioning that HDFC Bank merged with HDFC Limited on July 1, 2023, and the data presented for the period ending March 31, 2024, pertains to the merged entity.
The bank’s domestic retail loans saw a robust year-on-year (YoY) growth of around 108.9% and a quarter-on-quarter (QoQ) increase of about 3.7%. Meanwhile, commercial and rural banking loans witnessed a YoY growth of approximately 24.6% and a QoQ growth of 4.2%.
In terms of deposits, HDFC Bank aggregated approximately ₹23.80 lakh crore in Q4FY24, marking a YoY increase of 26.4% and a QoQ rise of 7.5%. Retail deposits surged by 27.8% YoY and 6.9% QoQ, while wholesale deposits grew by 19.4% YoY and around 10.9% sequentially.
Notably, CASA deposits in Q4FY24 grew by 8.7% to ₹9.09 lakh crore from ₹8.36 lakh crore as of March 2023, with sequential growth of 8.8%.
The CASA ratio stood at approximately 38.2% as of March 31, 2024, compared to 44.4% as of March 31, 2023, and 37.7% as of December 31, 2023.
As of 9:20 am, HDFC Bank shares were trading 2.82% higher at ₹1,524.35 each on the BSE.
