HDFC Bank stated that the bank’s advances under management were Rs 26,33,500 crore as of 30 September 2024, a growth of around 8% over Rs 24,37,400 crore as of 30 September 2023.
The advances are higher by 2.3% as compared with Rs 25,75,000 crore as of 30 June 2024.
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During the quarter, retail loans grew by around Rs 33,800 crore; commercial & rural banking loans grew by around Rs 38,000 crore; and corporate & other wholesale loans were lower by Rs 13,300 crore over 30 June 2024.
The banks gross advances aggregated to approximately Rs 25,19,000 crore as of 30 September 2024, a growth of around 7% over Rs 23,54,600 crore as of 30 September 2023.
During the quarter ended 30 September 2024, the bank securitised / assigned loans of Rs 19,200 crore as a strategic initiative.
The banks deposits were Rs 25,00,000 crore as of 30 September 2024, a growth of around 15.1% over Rs 21,72,900 crore as of 30 September 2023, and a growth of around 5.1% over Rs 23,79,100 crore as of 30 June 2024.
CASA deposits added up to Rs 8,83,500 crore as of 30 September 2024, up 8% YoY and up 2.3% QoQ.
The banks time deposits were Rs 16,16,500 crore as of 30 September 2024, up 19.3% YoY and 6.7% QoQ.
Liquidity coverage ratio (average) was around 127% for the quarter.
HDFC Bank is private sector lender, As of 30 June 2024, the bank’s distribution network was at 8,851 branches and 21,163 ATMs across 4,081 cities / towns as against 7,860 branches and 20,352 ATMs across 3,825 cities / towns as of June 2024.
The private lender’s net profit increased 35.33% to Rs 16,174.75 crore on 44.77% jump in total income to Rs 83,701.25 crore in Q1 FY25 over Q1 FY24. The bank’s provisions and contingencies rose 9.02% YoY to Rs 2,602.06 crore during the quarter under review.
The scrip rose 0.14% to currently trade at Rs 1684.50 on the BSE.
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First Published: Oct 04 2024 | 12:16 PM IST
