HDFC Bank Q4 advances surge by 17%

HDFC Bank said on April 3 that during the March quarter of the fiscal year 2022–23, its advances rose 16.9 per cent. Moreover, its deposits increased by 20.8 per cent as compared to the same quarter last year. As of March 31, 2023, the private lender’s advances totalled roughly Rs 16 lakh crore. An increase of about 16.9% from the same time last year, the bank stated in the exchange filing.

Domestic retail loans spiked by 21 per cent year over year, according to the bank’s internal business categorization, while corporate and other wholesale loans increased by 12.5 per cent.

The bank mentioned that deposits were at Rs 18.83 lakh crore at the end of FY23, around 20.8 per cent higher from Rs 15.59 lakh crore as of March 31, 2022.

It further added that the retail deposits rose by about 1.06 lakh crore during the quarter, or 23 per cent, over the same time last year. Over March 31, 2022, wholesale deposits increased by roughly 10%, it noted.

Meanwhile, during the same time last year, commercial and rural banking loans soared by about 30% year-over-year.

HDFC bank said in an exchange notification on Monday, “Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 21.3 per cent over March 31, 2022, and around 6.5 per cent over December 31, 2022.”

In its quarterly update for the January-March quarter, HDFC stated that its domestic retail book had grown by 21% year over year and 5%. Commercial & rural banking loans had grown by 30% YoY and 9.5% sequentially. Additionally, the wholesale loan book had grown by 12.5% year over year and 4.5% sequentially.

HDFC Bank CASA Deposits

At the end of FY23, HDFC Bank’s CASA (current account and savings account) deposits totalled roughly Rs 8.36 lakh crore. An increase of 11.3 per cent from Rs 7.51 lakh crore in the same time the previous year.

At the conclusion of the fourth quarter, the CASA ratio was approximately 44%, down from 48.2% in the same period of the prior fiscal year.

In Q3 FY23, HDFC Bank recorded a net profit of Rs 12,698 crore, up 19.9% from the same quarter last year. The quarter’s net interest revenue increased 24.6 per cent YoY to Rs 22,987.8 crore.

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