HDFC Bank records 15.8% loan growth, 20% rise in advances in Q1 FY24

Private sector lender HDFC Bank on Wednesday said it has registered a 15.8% rise in loans to ₹ 16,15,500 crore in the first quarter of current fiscal year. The credit book was ₹ 13,95,000 crore as of June 30 last year.

Gross transfers through inter-bank participation certificates and bills rediscounted, the bank's advances grew 20.2 % over June 30, 2022, HDFC Bank said in a regulatory filing.

The bank's deposits aggregated to approximately ₹19,13,000 crore as of June 30, 2023, a growth of around 19.2 % over ₹ 16,05,000 crore as of June 30 last year, it added.

During April-June 2022, the bank purchased loans aggregating ₹ 11,632 crore through the direct assignment route under the home loan arrangement with parent Housing Development Finance Corporation (HDFC) Ltd, it said.

On July 1, HDFC Ltd merged with HDFC Bank, creating the biggest private sector lender.

The merged entity's gross advances aggregated to approximately ₹ 22,45,000 crore as of June 30, 2023, a growth of 13.1 % over ₹ 19,85,900 crore as of same period last year.

With regard to deposit, it said, it aggregated to approximately ₹ 20,63,500 crore as of June 30, 2023, registering a rise of 16.2 % from ₹ 17,76,000 crore as of same period a year ago.