Gross advances rise 1.6%
Mumbai: HDFC Bank said its gross advances at the end of the March quarter (Q4)rose 1.6 per cent to Rs25.08 lakh crore ($300.44 billion) from the December quarter. The bank’s deposits in the March quarter rose 7.5 per cent to Rs 23.8 lakh crore from the December quarter. Gross advances at ₹16.14 lakh crore in the corresponding period of the previous financial year and rose over ₹24.69 lakh crore as of December 31, 2023, the bank informed.
The private lender said that its domestic retail loans grew by around 108.9 per cent over March 31, 2023 and around 3.7 per cent or Rs 43,700 crore over December 31, 2023. In March, the commercial & rural banking loans grew by around 24.6 per cent while it grew around 4.2 per cent quarter-on-quarter (QoQ). With respect to corporate and other wholesale loans, the growth was around 4.1 per cent over March 31, 2023, the filing said
As of March 31, 2024, HDFC Bank’s deposits aggregated to Rs 23.80 lakh crore- up 26.4 per cent over Rs18.83 lakh crore reported at the end of corresponding quarter. On quarterly basis, the growth was around 7.5 per cent, the lender noted.
At the same time, retail deposits grew by around 27.8 per cent YoY and around 6.9 per cent QoQ. Wholesale deposits grew by around 19. per cent YoY and around 10.9 per cent QoQ, it said.
