HDFC Bank's new record; Loan of Rs 25 lakh crore given in the fourth quarter

During the fourth quarter that ended in March 2024, HDFC Bank reported on Thursday that its loan book had exceeded Rs 25 lakh crore. As per the bank's regulatory filing, as of March 31, 2024, the gross advances of the bank were Rs 25.08 lakh crore, which represents a 55.4% increase from Rs 16.14 lakh crore before that date.

Results for the quarter ending March 31, 2024, include the activities of the former HDFC Ltd., which on July 1, 2023, amalgamated with HDFC Bank. As such, a comparison with the same period last year's figures is not possible.

By comparison, during the quarter ending December 31, 2023, loan growth increased by 1.6% on a quarter-over-quarter basis to Rs 24.69 lakh crore. This rise is equal.

As per the bank's internal business classification, domestic retail loans grew by about 109 per cent on March 31, 2023, and by about 3.7 per cent on December 31, 2023.

The bank's commercial and rural banking credit grew by 24.6 per cent during March 31, 2023, and about 4.2 per cent during December 31, 2023.

HDFC Ltd's corporate and other wholesale loans, excluding non-personal loans, grew by about 4.1 per cent as of March 31, 2023.

The bank's total deposits as of March 31, 2024, stood at Rs 23.8 lakh crore, up about 26.4 per cent year-on-year from Rs 18.83 lakh crore and about 7.5 per cent more than Rs 22.10 lakh crore as of December 31, 2023.

While fixed deposits climbed by approximately 27.8% (or Rs 1.2 lakh crore) on March 31, 2023, and 6.9% (or Rs 1.2 lakh crore) on December 31, 2023, bulk deposits increased by approximately 19.4% on March 31, 2023, and by approximately 10.9% (or Rs 38,000 crore) on December 31, 2023.

By March 31, 2024, deposits into Current Account Savings Accounts (CASAs) had increased to approximately Rs 9 lakh crore, or 8.7% more than they were a year earlier.

The AU Small Finance Bank (SFB), situated in Jaipur, stated in a separate filing that it recorded a 25% increase in advance payments to Rs 73,999 crore during the latest quarter. Rs 59,158 crore had been advanced overall as of the end of the previous fiscal year's fourth quarter.

It said bank deposits grew 26 per cent to Rs 87,182 crore during the quarter, from Rs 69,365 crore in the year-ago period.

After receiving RBI approval on March 4, 2024, the merger of Fincare SFB with AU SFB became effective from April 1, 2024, and the deposit rates in the acquired branches became in line with AU deposit rates from April 1, 2024. Furthermore, the integration process is expected to be completed in the next 9 months.