HDFC Bank reports 24% growth in deposits

HDFC Bank on Friday (3 April 2020) said its advances grew 21% while its deposits rose 24% as of 31 March 2020 compared with corresponding period of the previous year.

HDFC Bank's advances aggregated to approximately Rs 9,93,000 crore as of 31 March 2020, a rise of 21.19% against Rs 8,19,400 crore as of 31 March 2019 and a growth of 6.09% compared with Rs 9,36,000 crore as of 31 December 2019.

The bank's deposits aggregated to approximately Rs 11,46,500 crore as of 31 March 2020, a rise of 24.20% compared with Rs 9,23,100 crore as of 31 March 2019 and a growth of 7.41% compared with Rs 10,67,400 crore as of 31 December 2019.

The bank's CASA ratio stood at around 42% as of 31 March 2020 compared with 42.4% as of 31 March 2019 and 39.5% as of 31 December 2019.

During the quarter ended 31 March 2020, the bank purchased loans aggregating Rs 5,47,900 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC).

On a standalone basis, HDFC Bank's net profit soared 32.8% to Rs 7,416.48 crore on a 17% jump in total income to Rs 36,039 crore in Q3 December 2019 over Q3 December 2018.

HDFC Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The bank's segments include treasury, retail banking, wholesale banking and other banking business.

Shares of the private lender ended 1.95% lower at Rs 813.50 on Friday, 3 April.

Powered by Capital Market - Live News