HDFC Bank Q1 update: Advances up 16% YoY, deposits up 19%

HDFC Bank Q1 update

by Tanushree Jaiswal Last Updated: Jul 05, 2023 - 05:38 pm 302 Views

HDFC Bank reported that its advances, which represent its loans and credit extended to customers, amounted to approximately ₹16.15 lakh crore for the quarter ending June 30. This reflected a year-on-year increase of nearly 15.8% compared to ₹13.95 lakh crore in the same period the previous year. On a quarter-over-quarter basis, advances grew by around 0.9% compared to ₹16 lakh crore in the previous quarter (Q4FY23).

The bank's deposits showed significant growth, rising by 19.2% year on year to ₹19.13 lakh crore for the quarter. This was a notable increase from ₹16.04 lakh crore in the first quarter of the previous fiscal year (Q1FY23). On a quarter-over-quarter basis, deposits increased by 1.6% from Rs 18.83 lakh crore in the quarter ended March 31, 2023.

During the quarter, HDFC Bank witnessed a 21.5% year-on-year increase and a 2.5% quarter-on-quarter increase in retail deposits, amounting to an additional ₹38,000 crore. Wholesale deposits, on the other hand, grew by approximately 9% year on year but declined by around 2.5% quarter on quarter. Additionally, HDFC Bank acquired loans amounting to ₹11,632 crore through the direct assignment route, as part of its home loan arrangement with HDFC Ltd.

As of June 30, 2023, HDFC Bank's Current Account and Savings Account (CASA) deposits reached ₹8.13 lakh crore, indicating an improvement of 10.7% compared to ₹7.34 lakh crore as of June 30, 2022. However, CASA deposits declined by 2.7% from ₹8.36 lakh crore at the end of March 2023. The retail CASA grew by 11% in Q1FY24 compared to Q1FY23 but fell by 2% quarter on quarter. The bank's CASA ratio for the quarter stood at approximately 42.5%, lower than 45.8% in Q1FY23 and 44.4% in Q4FY23.
 

Share Market Today


How do you rate this article?

or

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Open Free Demat Account
Resend OTP
Please Enter OTP
Account belongs to

By proceeding, you agree to the T&C.

Latest News
Stocks in News Today

Our analysts at 5paisa scan through the financial markets and select the few trending stocks which were in the news and in the limelight for the day. Here is the list of a few trending stocks with their latest News and Updates.

  • Sep 25, 2023
Sai Silks Kalamandir IPO subscribed 4.40 times at close

The ₹1,201 crore IPO of Sai Silks (Kalamandir) Ltd, consisted of a combination of fresh issue and offer for sale. The fresh issue was to the tune of ₹600 crore while the offer for sale (OFS) was worth ₹601 crore.

  • Sep 22, 2023
SignatureGlobal India IPO subscribed 11.88 times at close

The ₹730 crore IPO of SignatureGlobal India Ltd, consisted of a combination of fresh issue and offer for sale. The fresh issue was to the tune of ₹603 crore while the offer for sale (OFS) was worth ₹127 crore.

  • Sep 22, 2023