HDFC Bank.
| Photo Credit: REUTERS
Private sector lender HDFC Bank on Thursday said its loan book crossed ₹25 lakh crore in the fourth quarter ended March 2024.
The bank’s gross advances aggregated to ₹25.08 lakh crore as of March 31, 2024, a growth of 55.4% over ₹16.14 lakh crore as of March 31, 2023, HDFC Bank said in a regulatory filing.
The figures for the period ended March 31, 2024 include the operations of erstwhile HDFC Ltd, which amalgamated with HDFC Bank on July 1, 2023 and hence are not comparable with those of the corresponding period of the previous year, it said.
However, the loan growth on quarter-to-quarter basis increased by marginal 1.6% as compared to ₹24.69 lakh crore at the end of December 31, 2023. This growth is comparable.
As per the bank’s internal business classification, domestic retail loans grew around 109% over March 31, 2023 and around 3.7% over December 31, 2023.
The bank’s commercial and rural banking loans grew 24.6% over March 31, 2023 and around 4.2% over December 31, 2023, it said.
The corporate and other wholesale loans, excluding non-individual loans of the erstwhile HDFC Ltd, grew around 4.1% over March 31, 2023.
The bank’s deposits aggregated to Rs 23.8 lakh crore as of March 31, 2024, a year-on-year growth of around 26.4% over ₹18.83 lakh crore and of around 7.5% over ₹22.10 lakh crore as of December 31, 2023.
“Retail deposits grew by around 27.8% over March 31, 2023 and around 6.9% (₹1.2 lakh crore) over December 31, 2023; wholesale deposits grew by around 19.4% over March 31, 2023 and around 10.9% (₹38,000 crore) over December 31, 2023,” it said.
Current Account Saving Account (CASA) deposits aggregated to approximately ₹9 lakh crore as of March 31, 2024, a growth of around 8.7% over the year-ago period.
In a separate filing, Jaipur-based AU Small Finance Bank (SFB) said it has posted 25% growth in advances to ₹73,999 crore in the March quarter.
Total advances stood at ₹59,158 crore at the end of the fourth quarter of the last financial year.
The bank’s deposits rose by 26% to ₹87,182 crore during the quarter from ₹69,365 crore in the year-ago period, it said.
Post receiving RBI approval on March 4, 2024, the merger of Fincare SFB with AU SFB became effective from April 1, 2024, and the deposit rates at the acquired branches have been aligned to AU deposit rates with effect from April 1, 2024.
Further, the integration process is expected to get completed over the next 9 months, it said.
