HDFC Bank Q4 Update: Advances Up 16.9%, Deposits 20.8%; Retail Loans Grew By 21%

HDFC Financial institution’s advances climbed 16.9% and deposits 20.8% within the March quarter of the fiscal 12 months 2022-23 from the year-ago interval, the personal lender stated on April 3.

The financial institution’s advances aggregated to round Rs 16 lakh crore as of March 31, 2023, marking a progress of round 16.9% from the year-ago interval, the lender stated in an change submitting.

As per the financial institution’s inside enterprise classification, home retail loans grew by 21% on-year, whereas company and different wholesale loans noticed a rise of 12.5%.

Deposits stood at Rs 18.83 lakh crore on the finish of FY23, round 20.8% greater from Rs 15.59 lakh crore as of March 31, 2022, Moneycontrol reported.

Retail deposits elevated by round 1.06 lakh crore in the course of the quarter, which is 23% greater than the year-ago interval, the financial institution stated. Wholesale deposits grew by round 10% over March 31, 2022, it added.

HDFC Financial institution’s CASA (present account and financial savings account) deposits aggregated to roughly Rs 8.36 lakh crore on the finish of FY23, up 11.3% from Rs 7.51 lakh crore within the year-ago interval.

The CASA ratio stood at round 44% on the finish of the fourth quarter, down from 48.2% within the corresponding interval of the earlier fiscal 12 months.

HDFC Financial institution reported a internet revenue of Rs 12,698 crore in Q3 FY23, 19.9% greater than the year-ago interval. Web curiosity revenue in the course of the quarter climbed 24.6% YoY to Rs 22,987.8 crore.

Within the first buying and selling session of FY24, the financial institution’s shares ended flat at Rs 1,610 apiece.

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