On Thursday, HDFC Bank revealed that the total amount of its gross advances as of March 31, 2024, was Rs 25,080 billion. This represents a rise of 1.6% (or Rs 387 billion) over the gross advances as of December 31, 2023, which was Rs 24,693 billion. As of March 31, 2023, gross advances stood at Rs 16,142 billion, up 55.4% year over year.
"The Bank's advances grew by approximately 53.8 percent over March 31, 2023, and approximately 1.9 percent (Rs 472 billion) over December 31, 2023, grossing up for transfers through inter-bank participation certificates and bills rediscounted," HDFC Bank stated in a regulatory filing.
The private lender reported that during December 31, 2023, its domestic retail loan portfolio increased by 3.7 percent (or Rs 437 billion) and by 108.9 percent year-over-year. Its commercial and rural banking loans, meanwhile, increased by 24.6 percent year over year and by 4.2 percent (or Rs 323 billion) over a two-year period. With the exception of non-individual loans from the former HDFC Limited, corporate and other wholesale loans increased by 4.1 percent year over year and decreased by 2.2 percent (or Rs 98 billion) over December 31, 2023.
As of March 31, 2024, HDFC Bank has deposits of Rs 23,800 billion, up 26.4 percent from Rs 18,834 billion at the same time the previous year. As of December 31, 2023, it has grown by 7.5% (Rs 1,660 billion) over Rs 22,140 billion.
According to HDFC Bank, wholesale deposits increased by 10.9 percent (Rs 380 billion) over December 31, 2023, and by 19.4% on a year-over-year basis. Meanwhile, retail deposits increased by 27.8% over March 31, 2023 and by 6.9 percent (Rs 1,280 billion) sequentially.
As of March 31, 2024, the Bank's CASA deposits totaled Rs 9,090 billion, representing an increase of 8.7% over Rs 8,360 billion as of March 31, 2023, and 8.8% (or Rs 734 billion) above Rs 8,356 billion as of December 31, 2023. Retail CASA increased by 6.3% (or Rs 479 billion) over December 31, 2023, and by 8.8% over March 31, 2023. The bank also stated that as of March 31, 2024, its CASA ratio was about 38.2 percent, down from 44.4 percent on March 31, 2023, and 37.7 percent on December 31, 2023.
It should be recalled that on July 01, 2023, HDFC Bank merged with HDFC Limited. According to the private lender's exchange filing, the operations of the former HDFC Limited are included in the numbers for the period ending March 31, 2024.
