HDFC Bank Q2 Update: Gross advances rise 7% to ₹25.19 lakh crore, deposits jump 15% YoY

HDFC Bank, the country’s biggest private sector lender, on Friday, reported gross advances growth of 7% at ₹25.19 lakh crore as of September 30, 2024, compared with ₹23.54 lakh crore as of September 30, 2023.

HDFC Bank’s advances under management, which include advances grossing up for inter-bank participation certificates, bills rediscounted and securitisation/assignment, stood at ₹26.33 lakh crore as of September 30, a growth of around 8% year-on-year (YoY) from ₹24.37 lakh crore.

The bank’s advances under management grew 2.3% from ₹25.75 lakh crore as of June 30.

During the quarter, retail loans grew by around ₹33,800 crore, commercial & rural banking loans grew by around ₹38,000 crore while corporate & other wholesale loans dipped by ₹13,300 over June 30, 2024, HDFC Bank said in a BSE filing on October 4.

HDFC Bank securitised or assigned loans of ₹19,200 crore (year-to-date ₹24,600 crore) as a strategic initiative.

Deposits

HDFC Bank’s deposits grew 15.1% to ₹25 lakh crore in Q2FY25 from ₹21.73 lakh crore crore in Q2FY24. Sequentially, deposit growth was around 5.1% from ₹23.79 lakh crore as of June 30, 2024.

The private lender’s CASA deposits in Q2 rose 8% YoY and 2.3% quarter-on-quarter (QoQ) to ₹8.83 lakh crore.

The liquidity coverage ratio (average) was around 127% for the quarter, HDFC Bank said.

HDFC Bank Block Deal

HDFC Bank shares saw a major block deal transaction on Thursday, 3 October as Morgan Stanley and Citigroup bought 43.75 lakh shares of the private sector lender through open market transactions. The total transaction value stood at ₹755.29 crore.

BNP Paribas’ arm BNP Paribas Financial Markets sold HDFC Bank shares in the deal through two separate blocks at ₹1,726.2 apiece on the BSE.

At 9:45 am, HDFC Bank shares were trading 0.28% lower at ₹1,677.45 apiece on the BSE.

Read all Q2 Updates here