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HDFC Bank Deposits Grow Faster Than Advances in September Quarter
HDFC Bank reported that both its loans and deposits grew by the end of September.
Deposits grew faster than loans.
The bank had Rs 33.28 lakh crore in deposits and Rs 32.20 lakh crore in gross advances.
Time deposits grew more quickly than CASA deposits.
The bank also brought in foreign currency deposits worth $11.5 billion.
It used some of these deposits to support lending through its overseas branches.
The bank also raised $2.5 billion by selling bonds denominated in US dollars.
HDFC Bank’s gross advances rose 16.3% year-on-year to Rs 32.20 lakh crore as of September 30.
Deposits grew 18.8% year-on-year to Rs 33.28 lakh crore, outpacing advances.
Period-end advances under management increased 15.3% to Rs 33.08 lakh crore; average advances under management rose 14% to Rs 31.87 lakh crore.
Time deposits grew 22.8% to Rs 22.76 lakh crore, while CASA deposits increased 10.8% to Rs 10.52 lakh crore.
The bank mobilised $11.5 billion in foreign currency deposits and raised $2.5 billion through US dollar-denominated bonds during June-August.
- Who
- HDFC Bank
- What
- Released provisional business figures showing growth in advances and deposits, alongside foreign currency funding and bond issuance.
- Where
- HDFC Bank; its overseas branches extended loans against foreign currency deposits.
- When
- As of September 30; bond fundraising took place during June-August.
- Why
- The articles do not state a specific reason for the reported growth or funding activity.
Deposit Growth
Advances Growth
Relative growth rates
Deposit Growth
Deposits rose 18.8% year-on-year to Rs 33.28 lakh crore, growing faster than advances.
Advances Growth
Gross advances rose 16.3% year-on-year to Rs 32.20 lakh crore; advances under management also increased.
Deposit composition
Deposit Growth
Time deposits grew 22.8% year-on-year, faster than the overall deposit growth rate.
Advances Growth
CASA deposits grew more slowly, at 10.8% year-on-year.
Key facts
- Gross advances
- Rs 32.20 lakh crore as of September 30, up 16.3% year-on-year
- Deposits
- Rs 33.28 lakh crore as of September 30, up 18.8% year-on-year
- Period-end advances under management
- Rs 33.08 lakh crore, up 15.3% year-on-year
- Average deposits
- Rs 31.67 lakh crore, up 16.8% year-on-year
- Time deposits
- Rs 22.76 lakh crore as of September 30, up 22.8% year-on-year
- CASA deposits
- Rs 10.52 lakh crore as of September 30, up 10.8% year-on-year
- Foreign currency deposits mobilised
- $11.5 billion under the Reserve Bank of India’s FCNR(B) swap facility
- US dollar-denominated bonds
- $2.5 billion raised during June-August
Sources
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