HDFC Bank Extends Rs 48,000 Cr Home Loans In Q2, Casa Ratio Declines
HDFC Bank disbursed home loans worth Rs 48,000 crore from July to September, reflecting a 14 per cent sequential growth and a 10.5 per cent increase from the previous year on HDFC's loan portfolio.
This period marked the bank's initial quarter post its merger with mortgage provider HDFC. Previously, HDFC Bank acted as a distribution agent for HDFC rather than selling home loans directly.
In a notification to the exchanges, HDFC Bank stated, "Home loan disbursals during the first quarter post-merger were the best ever at Rs 480 billion. This is a growth of 14.0 per cent over the quarter ending June 30, 2023, and a growth of 10.5 per cent over the quarter ending 30 September 2022."
The bank's retail loan portfolio saw a significant increase, with an 85 per cent surge compared to the previous quarter and a 111.5 per cent rise from the same period the previous year.
The bank decided to reduce the non-individual loan portfolio of the former HDFC by 6.2 per cent sequentially. This brought down the non-individual loan portfolio to Rs 1.03 trillion from Rs 1.09 trillion at the end of June. As of September 30, 2022, the book size stood at Rs 1.3 trillion.
During the second quarter, the bank's gross advances grew by Rs 1.1 trillion, reaching Rs 23.5 trillion. This represented a 4.9 per cent increase over the proforma merged advances of Rs 22.4 trillion as of 30 June 2023.
Commercial and rural banking loans experienced a growth of approximately 29.5 per cent from 30 September 2022, and around 9.5 per cent from 30 June 2023. Corporate and other wholesale loans increased by about 8.0 per cent from 30 September 2022, and approximately 6.0 per cent from 30 June 2023.
Deposits saw a rise of Rs 1.1 trillion, reaching Rs 21.7 trillion, marking an approximate 5.3 per cent increase from the proforma merged deposits of Rs 20.6 trillion as of June 30, 2023.
The proportion of current and savings account deposits in relation to total deposits fell to 37.5 per cent as of September 30, down from 45.4 per cent in the year-ago period and 42.5 per cent in June 2023. This shift was primarily attributed to the addition of liabilities from HDFC, which consisted largely of fixed deposits.
