HDFC Bank's loans rise 14.1% in June quarter, advances total Rs 11.47 trn

Country's largest private lender HDFC Bank posted a 14.4 per cent growth on Year-on-Year (Y-o-Y) basis in loans in Q1FY22 and just 1.3 per cent over the preceding quarter ended March 2021 (Q4FY21).

The bank, in a filing with the BSE, said advances aggregated to Rs 11.47 trillion as of June 30, 2021 as against Rs 10.03 trillion in June 2020 and Rs 11.32 trillion in March 2021.

Retail loans expanded 9 per cent on Y-o-Y basis over June 2020 and at a lower pace of 1 per cent sequentially over March 2021. The commercial & rural banking loans grew by around 25 per cent over June 30, 2020 and around 4 per cent over March 31, 2021.

The retail disbursements, including home loans sourced under the arrangement with Housing Development Finance Corporation, were approximately Rs 43,600 crore in Q1FY22, as against Rs 14,400 crore disbursed in Q1FY21. The Y-o-Y growth was about 202 per cent, reflecting a very low activity in April-June 2020 during the first Coronavirus (Covid-19) wave. It was around 30 per cent lower than Rs 62,500 crore disbursed in Q4FY21, the bank said.

The bank purchased loans aggregating Rs 5,489 crore in Q1FY22 through the direct assignment route under the home loan arrangement with HDFC.

The bank’s deposits expanded by 13.2 per cent on a Y-o-Y basis to approximately Rs 13.46 trillion as of June 30, 2021. Its deposits grew by just 0.8 per cent over Rs 13.35 trillion as of March 31, 2021.

Retail deposits grew by around 16.5 per cent over June 30, 2020 and around 3.5 per cent over March 31, 2021. The share of low cost – current account and savings account (CASA) – was 45 per cent in June 2021, down from 46.1 per cent in March 2021 June 2020. The share of CASA deposits in total deposits was 40.1 per cent in June 2020.