HDFC Bank vaults after advances grow 21% YoY in June quarter

HDFC Bank jumped 3% to Rs 1106.50 after the private sector lender said its advances grew 21% while its deposits rose 25%, on year-on-year basis, as on 30 June 2020.

The private sector lender said its advances aggregated to approximately Rs 10,04,500 crore as of 30 June 2020, a growth of around 21% from Rs 8,29,700 crore registered in 30 June 2019. As on 31 March 2020, advances stood at Rs 9,93,700 crore.

The bank's deposits aggregated to approximately Rs 11,89,500 crore as of 30 June 2020, registering a growth of around 25% from Rs 9,54,600 crore in 30 June 2019. The bank's deposit stood at Rs 11,47,500 crore as of 31 March 2020.

The bank's CASA ratio stood at around 40% as of 30 June 2020, as compared to 39.7% on 30 June 2019 and 42.2% on 31 March 2020.

During the quarter ended 30 June 2020, the bank said it purchased loans aggregating Rs 1,376 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC).

HDFC Bank's net profit rose 17.72% to Rs 6,927.69 crore on 15.10% increase in total income to Rs 35,917.63 crore in Q4 March 2020 over Q4 March 2019. Profit before tax (PBT) for Q4 March 2020 was at Rs 9,174.33 crore, up by 2.5% from Rs 8954.38 crore in the corresponding period of the previous year.

HDFC Bank is one of India's leading private banks. As of 31 March 2020, the bank's distribution network was at 5,416 banking outlets and 14,901 ATMs / Cash Deposit & Withdrawal Machines (CDM5) across 2,803 cities / towns as against 5,103 banking outlets and 13,489 ATMs towns as of 31 March 2019.

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