HDFC Bank Q3 Update: Gross advances rise 62.4% to ₹24.69 lakh crore; deposits up 27.7% YoY

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₹24,69,500 crore as of December 31, 2023, registering a growth of around 62.4% over ₹15,20,500 crore as of December 31, 2022. On a sequential basis, the bank’s gross advances grew by 4.9% from ₹23,54,600 crore as of September 30, 2023. Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7% over December 31, 2022 and around 3.8% over September 30, 2023, HDFC Bank said in a regulatory filing.

Also Read: Q3 result preview: Banking sector's earnings could moderate; NIM compression to ease from Q2 levels, says Motilal Oswal Domestic retail loans jumped 111% year-on-year (YoY), and around 3.0% quarter-on-quarter (QoQ). Commercial & rural banking loans grew by 6.5% and corporate & other wholesale loans (excluding non-individual loans of the erstwhile HDFC Limited) grew by 2.0% sequentially. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) HDFC Bank’s deposits increased by 1.9% to ₹22,14,000 crore at the end of December quarter from ₹21,72,900 crore at the end of September 2023.

Deposits recorded a growth of 27.7% YoY. Retail deposits increased by 2.9%, while wholesale deposits declined 3.4%, QoQ. Also Read: Q3 result preview: NBFCs likely to see healthy profit growth of 27% YoY amid moderating margins The bank’s CASA deposits aggregated to approximately ₹8,35,500 crore in Q3FY24, a growth of 2.2% QoQ.