Q1 Updates: From Bajaj Finance to Bandhan Bank; here is how the financial sector is performing this quarter

The banking and financial sector performed considerably well in the FY23 year-ending quarter as the majority of the companies managed to recover their loans, thereby minimising the share of non-performing assets. In this quarter, all eyes are on the HDFC merger, as analysts expect that HDFC Bank will be one of the largest lenders after State Bank of India in terms of credit after the merger.

1. HDFC Bank

HDFC Bank witnessed a growth of 15.8 per cent in its advances to approximately Rs 16,15,500 crore as of June 30, 2023, which previously stood at Rs 13,95,100 crore on June 30, 2022. The bank mentioned in its filings that domestic retail loans grew by around 20.0 per cent over June 30, 2022, and around 4.0 per cent over March 31, 2023; commercial and rural banking loans grew by around 29.0 per cent over June 30, 2022, and around 2.0 per cent over March 31, 2023.  

2. RBL Bank

The total deposit for the bank grew by 8 per cent as the deposit jumped from Rs 79,216 crore in June 2022 to Rs 84,887 crore in June 2023. The bank also mentioned in its filings that retail advances grew 32 per cent Y-o-Y while wholesale advances grew 8 per cent Year-on-Year (Y-o-Y) for the quarter ended June 30, 2023. 

3. Bandhan Bank

The bank recently garnered attention as Sunil Samdani, Chief Financial Officer (CFO), resigned in July. The loan book for the bank grew by more than 6 per cent in June 2023 on a Y-o-Y basis and the total deposits grew by more than 16 per cent.  

4. AU Small Finance Bank

This SFB recorded 27 per cent deposit growth on a Y-o-Y basis in June 2023. The small finance bank mentioned in its filings that the total deposits grew from Rs 54,631 crore in June 2022 to Rs 69,315 crore in June 2023.  

5. Bajaj Finance

Non-banking lender Bajaj Finance Ltd. on Monday, July 3, that the new loans booked during the first quarter of FY24 grew by 34 per cent in June 2023. 

Also Read: Equitas Small Finance Bank shares hit record high after lender reports 36.5% growth in Q1 loans