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.
As per the Bank’s internal business classification, retail loans grew by around 15.0% over March 31, 2021 and around 5.0% over December 31, 2021; commercial & rural banking loans grew by around 30.5% over March 31, 2021, and around 10.0% over December 31, 2021.
A corporate & other wholesale loan grew by around 17.5% over March 31, 2021, and around 11.5% over December 31, 2021.
HDFC Bank’s deposits aggregated to approximately Rs 15,59,000 crore as of 31 March 2022. It registered a growth of around 16.8% over Rs 13,35,100 crore as of 31 March 2021. A growth of around 7.8% over Rs 14,45,900 crore as of 31 December 2021.
Retail deposits grew by around 18.5% over 31 March 2021 and around 6% over 31 December 2021; wholesale deposits grew by around 10% over 31 March 2021 and around 17% over 31 December 2021.
The Bank’s cheaper deposits (CASA) aggregated to approximately Rs 7.51 lakh crore as of March 31, 2022, posting a growth of around 22 percent over Rs 6.15 lakh crore as of March 31, 2021. The growth of around 10.2 percent over Rs 6.812 lakh crore as of December 31, 2021.
The Bank’s CASA ratio stood at around 48 percent as of March 31, 2022, as compared to 46.1 percent as of March 31, 2021, and 47.1 percent as of December 31, 2021, the bank said in an update to stock exchanges.
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 Limited, the bank said.
HDFC Limited, India’s largest housing finance company will merge into HDFC Bank, India’s largest private sector bank by assets.
HDFC Bank is one of India’s leading private banks and was among the first to receive approval from the Reserve Bank of India (RBI) to set up a private sector bank in 1994. HDFC has come a long way since its inception in 1977.
Today, HDFC Bank has a banking network of 5,779 branches and 17,238 ATMs in 2,956 cities/towns.
Both the stocks’ have seen exponential market cap growth from their initial days of trading on the bourses. Since June 2011, HDFC Bank started outperforming HDFC and now HDFC Bank’s market cap is over doubled to HDFC.
The proposed transaction is to create a large balance sheet and net worth that would allow a greater flow of credit into the economy. It will also enable the underwriting of larger ticket loans, including infrastructure loans, an urgent need of the country, said the filing.