HDFC Bank’s gross advances rose 62.4 per cent y-o-y to ₹24.7 lakh crore as of December 31, 2023. Sequentially, the credit growth was at around 4.9 per cent.

Grossing up for transfers through inter-bank participation certificates and bills rediscounted, advances were up by 60.7 per cent y-o-y and 3.8 per cent on quarter, per the provisional numbers notified to the exchanges.

The jump in annual figures is on account of the merger of erstwhile parent company Housing Development Finance Corporation (HDFC) with the bank, effective July 1, 2023.

As per the bank’s internal business classification, domestic retail loans grew 111 per cent, commercial and rural banking loans rose 31.5 per cent, and corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) by 11 per cent.

On quarter, domestic retail loans were up 3 per cent, commercial and rural banking loans grew 6.5 per cent, and corporate and other wholesale loans grew by around 2 per cent.

Deposits of the lender rose 27.7 per cent yoy to ₹22.14 lakh crore at the end of December, led by a 28.4 per cent increase in retail deposits and 24.4 per cent in wholesale deposits. Sequentially, the deposit growth was 1.9 per cent on the back of a 2.9 per cent rise in retail deposits and 3.4 per cent in wholesale deposits.

CASA deposits grew 9.5 per cent on year and 2.2 per cent on quarter to ₹8.35 lakh crore as of December 31. Retail CASA deposits were up 10 per cent y-o-y and 2.3 per cent q-o-q.

HDFC Bank’s CASA ratio stood at around 37.7 per cent at the end of the reporting quarter, marginally higher than 37.6 per cent a quarter ago, but lower than 44.0 per cent in the year ago period.

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