HDFC Bank reported on Friday that its gross advances were 24,69,500 crore as of December 31, 2023, representing a 62.4% increase over the previous year's total of 15,20,500 crore. The bank's gross advances increased by 4.9% year on year to 23.54,600 crore as of September 30, 2023.
Grossing up for transfers via inter-bank participation certificates and rediscounted bills, HDFC Bank's advances increased by approximately 60.7% between December 31, 2022 and September 30, 2023, according to a regulatory filing.
Domestic retail loans increased 111% year on year (YoY) and approximately 3.0% quarter on quarter (QoQ). Commercial and rural banking loans increased by 6.5%, while corporate and other wholesale loans (excluding non-individual loans from the former HDFC Limited) increased by 2.0%.
HDFC Bank's deposits climbed by 1.9% to 22.14 billion rupees at the end of the December quarter, up from 21.72 billion rupees at the end of September 2023. Deposits increased by 27.7% year on year. Retail deposits climbed by 2.9% year on year, while wholesale deposits decreased by 3.4%.
In Q3FY24, the bank's CASA deposits were roughly 8,35,500 crore, representing a 2.2% increase year on year. Retail CASA increased by approximately 10.0% between December 31, 2022 and September 30, 2023.
As of December 31, 2023, the bank's CASA ratio was around 37.7%, compared to 44.0% in December 31, 2022 and 37.6% in September 30, 2023.
HDFC Bank shares have failed to provide significant returns in the last year, with the stock up just over 5% compared to the Nifty 50's more than 20% gains during the same period. The HDFC Bank share price was trading 0.39% down on the BSE at 1,683.45 per share at 9:35 a.m.
