hdfc bank: HDFC Bank posts strong loan growth in September quarter

hdfc bank: HDFC Bank posts strong loan growth in September quarter

In signs that bank credit growth may be on an uptrend, private lender HDFC Bank said its advances book grew by around 15.4% at the end of the September quarter, proforma numbers released by the bank showed. The lender’s total loans aggregated to Rs 11.98 lakh crore and grew 4.4% sequentially.

As per the Bank’s internal business classification, retail loans grew by around 13% over September quarter last year and 5.5% over June. Commercial and rural banking loans grew by around 27.5% year-on-year at the end of the September 2021 quarter while other wholesale loans grew by around 6%.

HDFC Bank’s total deposits aggregated to Rs 14.06 lakh crore at the end of September 30, 2021, a growth of around 14.4% over September last year.

Retail deposits grew by around 17.5% while wholesale deposits grew by around 2%. The bank’s current and savings account (CASA) deposits aggregated to Rs 6.5 lakh crore, a growth of around 28.6%.The Bank’s CASA ratio stood at around 47% as of September 30, 2021.

During the quarter HDFC Bank purchased loans aggregating Rs 7132 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.

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