HDFC Bank's advances rise 21% in March quarter; deposits go up 24%

The deposit base of the private sector lender stood at Rs 11.46 trillion in Q4FY20 compared to Rs 9.23 trillion in the same period last year

The country’s largest private sector lender HDFC Bank said in its quarterly update that its advances grew 21 per cent in the quarter ending March (Q4FY20) while its deposit base grew 24 per cent in the same period.

In absolute numbers, the bank’s advances aggregated to Rs 9.93 trillion in Q4FY20 compared to Rs 8.94 trillion in Q4FY19. This comes at a time when the overall bank credit growth has remained weak, given the challenging economic conditions.

Similarly, the deposit base of the private sector lender stood at Rs 11.46 trillion in Q4FY20 compared to Rs 9.23 trillion in the same period