HDFC Bank Q3 business update: Lender's gross advances jump 62.4%, retail loans zoom 111%

HDFC Bank Q3 results update: HDFC Bank, the country's largest private sector bank, released its FY24 third-quarter business update on Friday, January 5. The lender's gross advances zoomed to approximately Rs 24,69,500 crore in Q3 that ended on December 31, 2023, a growth of around 62.4 per cent from 15,20,500 crore in the previous year and a growth of around 4.9 per cent over Rs 23,54,600 crore on a sequential basis.

Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7 per cent over December 31, 2022, and around 3.8 per cent over September 30, 2023, HDFC Bank said in a regulatory filing.

Its domestic retail loans during the three-month period surged by around 111 per cent over December 31, 2022, and by around 3.0 per cent over September 30, 2023. Commercial and rural banking loans increased by around 31.5 per cent YoY and around 6.5 per cent QoQ.

Corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) gained by around 11 per cent and around 2.0 per cent YoY and QoQ, respectively.

The lender’s deposits soared to approximately Rs 22,140,00 crore as of December 31, 2023, registering a growth of around 27.7 per cent against Rs 17,332,00 crore registered a year ago and a growth of around 1.9 per cent over Rs 21,729,00 crore as of September 30, 2023.

Meanwhile, HDFC Bank's retail deposits increased by around Rs 530,00 crore during the quarter and grew by around 28.4 per cent over December 31, 2022, and around 2.9 per cent over September 30, 2023; wholesale deposits grew by around 24.4 per cent over December 31, 2022, and were lower by around 3.4 per cent over September 30, 2023.

The bank’s CASA deposits aggregated to approximately Rs 8,355,00 crore as of December 31, 2023, a growth of around 9.5 per cent from Rs 7,630,00 crore in the year-ago period and around 2.2 per cent over Rs 8,177,00 crore as of September 30, 2023.

Retail CASA grew by around 10.0 per cent YoY and by around 2.3 per cent on a QoQ basis. The lender’s CASA ratio stood at around 37.7 per cent as of December 31, 2023, against 44.0 per cent as of December 31, 2022 and 37.6 per cent as of September 30, 2023.

HDFC Bank shares on Friday closed 0.7 per cent, or Rs 11.85 lower, at Rs 1,679 on the NSE.

HDFC Bank Q3 results 2024 date

The bank is scheduled to release its quarterly results on January 16.

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