HDFC Bank's YoY Q3 Advances Surge By 62%

In the December quarter, the bank experienced a 4.9 per cent increase in gross advances compared to the figure of Rs 23,54,600 crore on 30 September 2023. Factoring in transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew approximately 60.7 per cent from 31 December 2022 and approximately 3.8 per cent from 30 September 2023. 

Internally categorised, domestic retail loans expanded by roughly 111 per cent since 31 December 2022 and about 3 per cent since 30 September 2023. Similarly, commercial and rural banking loans increased by about 31.5 per cent from 31 December 2022 and approximately 6.5 per cent from 30 September 2023. Corporate and other wholesale loans, excluding non-individual loans of the former HDFC, grew by around 11 per cent from 31 December 2022 and approximately 2 per cent from 30 September 2023.

During the same period, the private sector bank reported a 27.7 per cent growth in deposits, reaching Rs 22,14,000 crore by 31 December 2023, compared to Rs 17,33,200 crore on 31 December 2022 and a 1.9 per cent increase from Rs 21,72,900 crore on 30 September 2023.

Retail deposits increased by roughly Rs 53,000 crore in the quarter, growing by approximately 28.4 per cent since 31 December 2022 and about 2.9 per cent since 30 September 2023. Wholesale deposits grew by around 24.4 per cent from 31 December 2022, but decreased by approximately 3.4 per cent from 30 September 2023.

The bank's CASA deposits climbed 9.50 per cent to Rs 8,35,500 crore by December 31, 2023, from Rs 7,63,00 crore on 31 December 2022 and a 2.2 per cent increase from Rs 8,17,700 crore on 30 September 2023.

Retail CASA increased by approximately 10 per cent since 31 December 2022 and around 2.3 per cent since 30 September 2023. The CASA ratio was 37.7 per cent by 31 December 2023, compared to 44 per cent by 31 December 2022 and 37.6 per cent by 30 September 2023.

HDFC Bank, a contemporary private sector bank offering an array of banking services encompassing wholesale commercial and investment banking, as well as retail branch banking, witnessed a 50.64 per cent surge in net profit, reaching Rs 15,976.11 crore in Q2 FY24, compared to Rs 10,605.78 crore in Q2 FY23. The total income spiked by 69.78 per cent year-on-year to Rs 78,406.23 crore in the quarter ended on 30 September 2023.