HDFC Bank, the country’s largest private sector lender, reported gross advances growth of 7% in $25.19 lakh crore as on September 30, 2024 compared to more $23.54 lakh crore as on September 30, 2023.
HDFC BankAdministered advances, which include advances for the valuation of interbank participation certificates, bill rediscounts and securitizations/assignments, were $26.33 crore as on September 30, a growth of around 8.0% since $24.37 lakh crore, year-on-year (YoY).
Advances under management of the bank experienced a growth of around 2.3% during $25.75 lakh crore as on June 30.
During the quarter, retail loans grew by around $33.8 billion rupees; Loans from commercial and rural banks grew approximately $38,000 crores; and corporate loans and other wholesale loans decreased by $13,300 during June 30, 2024, HDFC Bank said in a BSE presentation on October 4.
Loans securitized or assigned by HDFC Bank of $19.2 billion rupees (year to date) $24,600 crore) as a strategic initiative.
Deposits
HDFC Bank’s deposits grew 15.1% to $25.00 lakh crore in Q2FY25 since $21.73 lakh crore crore in Q2FY24. Deposit growth was around 5.1% from $23.79 lakh crore as on June 30, 2024.
The private lender’s CASA deposits in the second quarter increased by 8% year-on-year and 2.3% quarter-on-quarter for $8.83 crores.
The liquidity coverage ratio (average) was around 127% for the quarter, HDFC Bank saying.
HDFC Bank Block Deal
HDFC Bank shares saw a major block transaction on October 3 when Morgan Stanley and Citigroup bought 43.75 lakh shares of the private sector lender through open market transactions. The total value of the transaction was $755.29 crores.
BNP Paribas division BNP Paribas Financial Markets sold HDFC Bank shares in the deal through two separate blocks in $1,726.2 each in the BSE.
At 9:45 am, HDFC Bank shares were trading 0.28% lower on $1,677.45 each in the BSE.
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