HDFC Bank shares in focus after Q3 deposit growth outpaces loan growth by an extensive margin
HDFC Bank will remain in focus on Monday after its deposit growth outpaced loan growth for the quarter ending December 2024. While deposits grew by 15.8% on year, its loans grew by 3%, provisional numbers released by the lender showed.
Total gross advances stood at Rs 25.42 lakh crore as of December 31, 2024, a growth of around 3.0% over Rs 24.69 lakh crore at the end of December 31, 2023.
The bank securitised loans worth Rs 21,600 crore during the quarter as a strategic initiative. In this fiscal year the bank has so far assigned loans worth Rs 46,300 crore.
Advances growth including inter-bank participation certificates, bills rediscounted and securitisation, stood at Rs 26.84 lakh crore at the end of the December quarter, a growth of around 6.1% on year.
On a year-on-year basis, retail loans grew by around 10%, commercial & rural banking loans grew by around 11.5% and corporate & other wholesale loans were lower by around 10.3%.
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