HDFC Bank records growth of 15.8% in loans to Rs 16.15 lakh crore in Q1 of FY 24

Private sector lender HDFC Bank on Wednesday said it has registered a 15.8 per cent rise in loans to Rs 16,15,500 crore in the first quarter of current fiscal year. The credit book was Rs 13,95,000 crore as of June 30 last year.

Gross transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew 20.2 per cent over June 30, 2022, HDFC Bank said in a regulatory filing.

The bank's deposits aggregated to approximately Rs 19,13,000 crore as of June 30, 2023, a growth of around 19.2 per cent over Rs 16,05,000 crore as of June 30 last year, it added.

During April-June 2022, the bank purchased loans aggregating Rs 11,632 crore through the direct assignment route under the home loan arrangement with parent Housing Development Finance Corporation (HDFC) Ltd, it said. On July 1, HDFC Ltd merged with HDFC Bank, creating the biggest private sector lender.

The merged entity's gross advances aggregated to approximately Rs 22,45,000 crore as of June 30, 2023, a growth of 13.1 per cent over Rs 19,85,900 crore as of same period last year.

With regard to deposit, it said, it aggregated to approximately Rs 20,63,500 crore as of June 30, 2023, registering a rise of 16.2 per cent from Rs 17,76,000 crore as of same period a year ago.

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