HDFC Bank on Sunday said its deposits have risen 16.8 per cent y-o-y to Rs 15.59 lakh crore and advances have witnessed a 20.85 per cent jump year-on-year (y-o-y) to Rs 13.69 lakh crore in the March 2022 quarter. The growth in deposits was the best in five quarters and the rise in advances was the highest in seven quarters, year-on-year.
Its deposits had stood at Rs 13.35 lakh crore and advances at Rs 11.33 lakh crore in the corresponding quarter of the previous financial year. Sequentially, deposits during the March 2022 quarter have registered a growth of 7.82 per cent, highest in 12 quarters, compared with Rs 14.46 lakh crore in the December 2021 quarter. Advances have posted the best jump in 20 quarters at 8.57 per cent quarter-on-quarter as compared with Rs 12.6 lakh crore in the December 2021 quarter.
The bank’s CASA (current account, saving account) ratio stood at around 48 per cent as of March 31, 2022, which is the highest in 26 quarters. It had stood at 46.1 per cent as of March 31, 2021, and 47.1 per cent as of December 31, 2021, HDFC Bank said in a statement said.
It added that the bank’s CASA deposits aggregated to about Rs 75.10 lakh crore as of March 31, 2022, a growth of around 22 per cent over Rs 61.57 lakh crore as of March 31, 2021, and a growth of around 10.2 per cent over Rs 68.12 lakh crore as of December 31, 2021.
Ex-HDFC Ltd pool, loan growth remains robust at 20.94 per cent year-on-year and 8.6 per cent quarter-on-quarter. The bank’s credit-deposit ratio stood at 87.81 per cent as compared with 84.85 per cent at the end of the March 2021 quarter and 87.21 per cent during the December 2021 quarter, it said.
According to the bank’s internal business classification, retail loans grew around 15 per cent over March 31, 2021, and around five per cent over December 31, 2021; commercial and rural banking loans rose around 30.5 per cent over March 31, 2021, and around 10 per cent over December 31, 2021. Its corporate and other wholesale loans rose around 17.5 per cent over March 31, 2021, and around 11.5 per cent over December 31, 2021.
Retail deposits grew around 18.5 per cent in the March 2022 quarter compared to the year-ago quarter and around 6 per cent over the preceding quarter; wholesale deposits jumped around 10 per cent year-on-year and around 17 per cent sequentially.
HDFC Bank said it has added 563 branches during the March 2022 quarter, bringing the network to 6,342 branches as on March 31, 2022, compared with 5,779 in the preceding quarter and 5,608 branches a year ago.
During the quarter ended March 31, 2022, the bank purchased loans aggregating Rs 8,117 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.
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