HDFC Bank gains after Q2 advances jumps 24% YoY

HDFC Bank rose 2.34% to Rs 1,445.85 after the bank's advances aggregated to approximately Rs 14,80,000 crore as of 30 September 2022, recording a growth of around 23.5% over Rs 11,98,800 crore as of 30 September 2021.

The private lender registered a growth of around 6.1% in quarter ended September 2022 as against Rs 13,95,100 crore as of 30 June 2022.

Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew by around 25.8% over 30 September 2021 and around 7.2% over 30 June 2022.

As per the bank's internal business classification, domestic retail loans grew by around 21.5% over 30 September 2021 and around 5% over 30 June 2022; commercial & rural banking loans grew by around 31.5% over 30 September 2021 and around 9.5% over 30 June 2022; and corporate & other wholesale loans grew by around 27% over 30 September 2021 and around 9% over 30 June 2022.

The bank's deposits aggregated to approximately Rs 16,73,500 crore as of 30 September 2022, registering a growth of around 19% over Rs 14,06,300 crore as of 30 September 2021 and a growth of around 4.3% over Rs 16,04,800 crore as of 30 June 2022.

Retail deposits increased by Rs 70,500 crore during the quarter, and grew by around 20.5% over 30 September 2021 and around 5.5% over 30 June 2022; wholesale deposits grew by around 12.5% over 30 September 2021 and were lower by around 0.5% over 30 June 2022.

The private lender's CASA deposits aggregated to approximately Rs 7,59,500 crore as of 30 September 2022, a growth of around 15.4% over Rs 6,58,200 crore as of 30 September 2021 and a growth of around 3.4% over Rs 7,34,600 crore as of 30 June 2022. The bank's CASA ratio stood at around 45% as of 30 September 2022, as compared to 46.8% as of 30 September 2021 and 45.8% as of 30 June 2022.

During the quarter ended 30 September 2022, the bank purchased loans aggregating Rs 9,145 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.

HDFC Bank is private sector lender. As of 30 June 2022, the bank's distribution network was at 6,378 branches and 18,620 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,203 cities / towns as against 5,653 branches and 16,291 ATMs / CDMs across 2.917 cities /towns as of 30 June 2021. Number of employees were at 152.511 as of June 30, 2022 (as against 123,473 as of 30 June 2021).

The bank's net profit rose 18.97% to Rs 9,195.99 crore on 13.02% increase in total income to Rs 41,560.27 crore in Q1 FY23 over Q1 FY22.

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