Hot Pursuit     04-Apr-24
HDFC Bank gains after gross advances climbs 55% YoY in Q4
HDFC Bank advanced 2.10% to Rs 1,513.75 after the private lender's gross advances jumped 55.4% to Rs 25,08,000 crore as of 31 March 2024 as compared with Rs 16,14,200 crore as of 31 March 2023.
HDFC Bank's gross advances registered a growth of around 1.6% in quarter ended 31 March 2024 from Rs 24,69,300 crore as of 31 December 2023.

As per the Bank's internal business classification, domestic retail loans surged around 108.9% over March 31, 2023 and around 3.7% over 31 December 2023; commercial & rural banking loans grew by around 24.6% over 31 March 2023 and around 4.2% over 31 December 2023; corporate & other wholesale loans grew by around 4.1% over 31 March 2023 and were lower by around 2.2% over 31 December 2023.

The Bank’s deposits aggregated to approximately Rs 23,80,000 crore as of 31 March 2024, recording a growth of around 26.4% as against Rs 18,83,400 crore as of 31 March 2023 and a growth of around 7.5% over Rs 22,14,000 crore as of 31 December 2023.

Retail deposits grew by around 27.8% over 31 March 2023 and around 6.9% over 31 December 2023. Wholesale deposits grew by around 19.4% over 31 March 2023 and around 10.9% over 31 December 2023.

The Bank’s CASA deposits aggregated to approximately Rs 9,09,000 crore as of 31 March 2024, a growth of around 8.7% from Rs 8,36,000 crore as of 31 March 2023 and a growth around 8.8% over Rs 8,35,600 crore as of 31 December 2023.

Retail CASA increased around 8.8% over 31 March 2023 and rose around 6.3% over 31 December 2023.

The Bank’s CASA ratio stood at around 38.2% as of 31 March 2024, as compared to 44.4% as of 31 March 2023 and 37.7% as of 31 December 2023.

HDFC Bank is private sector lender, As of 31 December 2023, the bank's distribution network was at 8,091 branches and 20,688 ATMs across 3,872 cities / towns as against 7,183 branches and 19,007 ATMs across 3,552 cities / towns as of 31 December 2022.

The private lender's net profit increased 33.55% to Rs 16,372.54 crore on 59.58% jump in total income to Rs 81,719.65 crore in Q3 FY24 over Q3 FY23.

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