HDFC Bank said that its gross advances aggregated to approximately Rs 24.87 lakh crore as of 30 June 2024, a growth of around 52.6% over Rs 16.30 lakh crore as of 30 June 2023.
Excluding the impact of the merger of erstwhile HDFC Limited with the bank on 1 July 2023, the banks gross advances grew by 14.9% over 30 June 2023. This compares to Rs 25.078 lakh crore as of 31 March 2024.
The banks advances under management (grossing up for inter-bank participation certificates, bills rediscounted and securitisation / assignment) were Rs 25.75 lakh crore as of 30 June 2024, Rs 17.053 lakh crore as of 30 June 2023, and Rs 25.758 lakh crore as of 31 March 2024.
During the quarter, retail loans grew by around Rs 18,600 crore; commercial & rural banking loans grew by around Rs 7,200 crore; and corporate & other wholesale loans were lower by Rs 26,600 crore over 31 March 2024.
The banks deposits were Rs 23.79 lakh crore as of 30 June 2024, a growth of around 24.4% over Rs 19.131 lakh crore as of 30 June 2023 and were at similar levels compared to Rs 23.798 lakh crore as of 31 March 2024. Excluding the July 2023 merger impact, the banks deposits grew by 16.5% over 30 June 2023.
The banks CASA deposits were Rs 8.635 lakh crore as of 30 June 2024, a growth of around 6.2% over Rs 8.13 lakh crore as of 30 June 2023. This compares to Rs 9.088 lakh crore as of 31 March 2024, which had a seasonal impact. Current account balances reduced by Rs 42,500 crore during the quarter.
The banks time deposits were Rs 15.155 lakh crore as of 30 June 2024, a growth of around 37.7% over Rs 11.001 lakh crore as of 30 June 2023. This compares to Rs 14.71 lakh crore as of 31 March 2024.
The banks advances under management, on an average basis, were Rs 25.325 lakh crore for the June 2024 quarter, reflecting a significant 54.1% increase year-over-year (YoY) and an rise of 0.8% compared to the previous quarter (QoQ).
The banks average deposits were Rs 22.83 lakh crore for the June 2024 quarter, translating to a YoY jump of 25.2% and a QoQ increase of 4.6%.
The banks average CASA deposits were Rs 8.105 lakh crore for the June 2024 quarter, demonstrating an 8.1% YoY rise and a 3.3% increase QoQ.
Liquidity coverage ratio (average) was around 123% for the quarter.
HDFC Bank is private sector lender, As of 31 March 2024, the bank's distribution network was at 8,738 branches and 20,938 ATMs across 4,065 cities / towns as against 7,821 branches and 19,727 ATMs across 3,811 cities / towns as of 31 March 2023.
The bank's net profit jumped 37.06% to Rs 16,511.85 crore on 66.5% increase in total income to Rs 89,639 crore in Q4 FY24 over Q4 FY23.
The scrip declined 3.67% to currently trade at Rs 1663.15 on the BSE.
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