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HDFC Bank’s loan book expanded by 19.5 per cent on Year on Year (YoY) basis Rs 15.07 trillion as of December 31, 2022 (Q3FY23), higher than the banking industry’s growth of 17.4 per cent YoY in December. Sequentially, the lender posted a growth of about 1.8 per cent over Rs 1,479 crore as of September 2022 (Q2FY23).
Domestic retail loans grew by around 21.5 per cent YOY and sequentially 5 per cent over September 2022, the country’s largest lender said in a filing with the BSE.
During the quarter ended December 31, 2022, the bank purchased loans aggregating Rs 8,892 crore through the direct assignment route under the home loan arrangement with mortgage major Housing Development Finance Corporation (HDFC). The housing finance company is slated to merge with HDFC Bank for which work for obtaining regulatory and legal approvals is underway.
The pace of loan expansion in commercial and rural banking loans was much stronger at around 30 per cent YoY and sequentially around 5 per cent over September 30, 2022. The corporate and other wholesale portfolio grew by around 20 per cent YoY.
The pace of liabilities was 19.9 per cent YoY, much higher than banking industry’s growth of 9.4 per cent in December 2022. Sequentially, deposits grew by 3.6 per cent over Rs 16.73 trillion at the end of September 2022.
Retail deposits increased by around 21.5 per cent YoY and by around 5 per cent over September 30, 2022. The wholesale deposits grew by around 11.5 per cent YoY and sequentially 2.5 per cent over September 30, 2022.
The bank’s low cost funds – Current Account and Savings Account (CASA) – grew by 12 per cent YoY to approximately Rs 7.6 trillion and 0.4 per cent over Rs 7.59 trillion as of September 30, 2022.
The bank’s share of CASA in total deposits stood at around 44 per cent as of December 31, 2022, down from 47.1 per cent a year ago and 45.4 per cent as of September 30, 2022.
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