CHENNAI: HDFC Bank's gross advances grew around 57.7% to Rs 23,545 billion on September 30, 2023, compared to Rs 14,933 billion in the same period last year, according to a market filing by the bank on Wednesday.
Gross advances jumped 44.4% over Rs 16,300 billion on June 30, 2023.
The bank reported boosted growth in advances and deposits as a result of the merger with its home loan entity - HDFC Limited on July 1, 2023.
Advances grew by around Rs 1,101 billion in the July- September quarter, registering a growth of around 4.9% over the merged advances of Rs 22,444 billion as of June 30, 2023.
Domestic retail loans grew by around 111.5%, and commercial and rural banking loans grew by around 29.5% over September 30, 2022.
Home loan disbursals during the September quarter, the first quarter post-merger stood at Rs 480 billion, with 14% growth over the quarter ending June 30, 2023, and a growth of 10.5% over the quarter ending September 30, 2022.
Corporate and other wholesale loans grew by around 8% over the same period. Non-individual loans of the former HDFC Limited aggregated to around Rs 1,025 billion, as of September 2023.
HDFC Bank’s deposits touched Rs 21,730 billion on September 30, witnessing a growth of around 30% over Rs 16,734 billion last year, according to the filing.
The lender's CASA deposits aggregated to approximately Rs 8,175 billion, a growth of around 7.6% over Rs 7,597 billion in the same period.
CASA ratio stood at around 37.6% as of September 30, 2023, as compared to 45.4% as of September 30, 2022.