HDFC Bank's advances rise 17% YoY to Rs 16 trillion; deposits up 21%

The lenders' CASA deposits grew by 11.3% to Rs 8.03 trillion

The country’s largest private sector lender, HDFC Bank, has reported a 17 per cent year-on-year (YoY) increase in advances in the January-March quarter (Q4) of FY23, aided by growth in retail and commercial & rural banking book, taking the total advances to Rs 16 trillion. Sequentially, advances were up 6.32 per cent over the December quarter.

“Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 21.3 per cent over March 31, 2022, and around 6.5 per cent over December 31, 2022,” the lender said in an exchange notification on Monday.

In its quarterly update for January-March quarter, the bank said its domestic retail book has recorded 21 per cent growth on a YoY basis and 5 per cent sequentially; commercial & rural banking loans increased by 30 per cent YoY and 9.5 per cent sequentially; and wholesale loan book grew by 12.5 per cent on a YoY basis and 4.5 per cent on a sequential basis.

On the other hand, deposits of the lender grew by 21 per cent on a YoY basis and 8.7 per cent sequentially, aggregating to Rs 18.8 trillion in Q4FY23. The banks’ retail deposits grew over a trillion (Rs 1.06 trillion) in the quarter and 23.5 per cent on a YoY basis. In the same period, wholesale deposits increased by 10 per cent YoY and 15.5 per cent sequentially.

The lenders’ current account savings account (CASA) deposits grew by 11.3 per cent YoY and 9.6 per cent sequentially in Q4FY23, aggregating to Rs 8.03 trillion. Retail CASA grew by around 12.5 per cent over March 31, 2022 and around 7.5 per cent over December 31, 2022. The banks’ CASA ratio stood at around 44.0 per cent as of March 31, 2023, as compared to 48.2 per cent as of March 31, 2022 and 44 per cent as of December 31, 2022.