HDFC Bank advances and deposits grow 19% for December quarter

Market


HDFC Bank’s advances grew 19.5 % (YoY) to 15,070 billion as on December 31, 2022 versus 12,609 billion as on December 31, 2021; and a QoQ growth on around 1.8 % over 14,799 billion as on September 30, 2022.

“As per the Bank’s internal business classification, domestic retail loans grew by around 21.5% over December 31, 2021 and around 5.0% over September 30, 2022; commercial & rural banking loans grew by around 30.0% over December 31, 2021 and around 5.0% over September 30, 2022; and corporate & other wholesale loans grew by around 20.0% over December 31, 2021 and were lower by around 1.0% over September 30, 2022,” the bank informed the exchanges in an update.

Meanwhile, the bank’s deposits grew around 19.9% (YoY) to 17,335 billion as on December 31, 2022 as compared to 14,459 billion as of December 31, 2021. The deposits were up 3.6% (QoQ) over 16,734 billion as of September 30, 2022.

“Retail deposits increased by around 670 billion during the quarter, and grew by around 21.5% over December 31, 2021 and around 5.0% over September 30, 2022; wholesale deposits grew by around 11.5% over December 31, 2021 and were lower by around 2.5% over September 30, 2022,” said the bank.

The Bank’s CASA ratio stood at around 44% as of December 31, 2022 versus 47.1% as on December 31, 2021 and 45.4% as on September 30, 2022.

“The Bank’s CASA deposits aggregated to approximately 7,630 billion as of December 31, 2022, a growth of around 12.0% over 6,812 billion as of December 31, 2021 and a growth of around 0.4% over 7,597 billion as of September 30, 2022,” said the bank.

The bank bought loans worth 88.92 billion from HDFC under the direct assignment route.

On April 4, 2022, HDFC Bank announced that parent HDFC will merge with the bank to enable seamless delivery of home loans and leverage on the large base of over 68 million customers of HDFC Bank and inter alia improve the pace of credit growth in the economy.

Under the scheme, HDFC shareholders will receive 42 shares of HDFC Bank having a face value of Re 1 each for 25 shares of HDFC having a face value of 2 each. Further, HDFC shareholding in HDFC Bank will be extinguished as per the scheme of amalgamation.

Post the merger, HDFC Bank will be 100% owned by public shareholders and existing shareholders of HDFC will own 41% of the former.

 


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