HDFC Bank Q4 Update: Gross advances jump 55% YoY to Rs 25.08 lakh crore; deposits rise 26%

India's biggest private lender HDFC Bank on Thursday reported a 55.4% year-on-year (YoY) growth in its gross advances to Rs 25.08 lakh crore for the quarter ended March 31, 2024.

The figure stood at Rs 16.14 lakh crore in the corresponding period of the previous financial year. On a sequential basis, gross advances rose 1.6% over Rs 24.69 lakh crore as of December 31, 2023, the company informed ahead of the market opening today.

Following the update, shares of HDFC Bank jumped 3% to hit the day's high of Rs 1,526.35 on the NSE. It was the top Nifty gainer and the update triggered strong volume action in the counter, with 98.72 lakh shares getting traded on the NSE around Rs 9:40 am. The total traded value of the shares stood at Rs 1,499 crore.


In its March quarter updates, the private lender said domestic retail loans grew by around 108.9% over March 31, 2023, and around 3.7% or Rs 43,700 crore over December 31, 2023. The commercial & rural banking loans grew by around 24.6% YoY in March while around 4.2% quarter-on-quarter (QoQ).

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As for the corporate and other wholesale loans (excluding non-individual loans of the erstwhile HDFC), the growth was around 4.1% over March 31, 2023, and was lower by around 2.2% over December 31, 2023, the filing said.

HDFC Bank’s deposits aggregated to approximately Rs 23.80 lakh crore as of March 31, 2024, up 26.4% over Rs 18.83 lakh crore reported at the end of corresponding quarter of the previous financial year. On QoQ basis, the growth was around 7.5%.

The retail deposits grew by around 27.8% YoY and around 6.9% QoQ while the wholesale deposits grew by around 19.4% YoY and around 10.9% QoQ.

The bank’s CASA deposits aggregated to approximately Rs 9.09 lakh crore as of March 31, 2024, which was a growth of around 8.7% over Rs 8.36 lakh crore as of March 31, 2023. Meanwhile, the CASA deposits record a rise of around 8.8% over Rs 8.35 lakh crore as of December 31, 2023.

Retail CASA grew by around 8.8% over March 31, 2023, and 6.3% over December 31, 2023, the filing claimed.

The CASA ratio stood at around 38.2% as of March 31, 2024, as against 44.4% in the same quarter last year and 37.7% in the previous quarter.

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