HDFC Bank posts 2.7% loan growth to ₹28.45 trn in Q3, deposits rise higher

India's top private lender HDFC Bank posted on Monday a ‍sequential quarterly loan ​growth, supported by the festive season and sweeping tax cuts, while deposits also rose.

As of December 31, loans rose 2.7 per cent sequentially to ₹28.45 trillion ($316.13 billion), while deposits increased ​2.1 per cent to ₹28.6 trillion, the Mumbai-based bank said.

Analysts had expected stronger loan demand in October-December, supported by spending in the festive season and the boost from tax cuts.

HDFC Bank merged with its parent HDFC in July 2023, adding a significant pool of loans but a smaller volume of deposits. This created pressure for the lender to either raise deposits or ease ‌loan growth.

 

Since the merger, the bank ​has consistently grown deposits faster than loans to manage its loan-to-deposit ratio (LDR).

HDFC Bank said it expects loan growth to match ‍the industry in fiscal year 2026 and exceed it in 2027.

The lender has ‍said it ‌aims to ​return its LDR to ‍pre-merger levels of 85 per cent-90 per cent in 2026-27.