| Company | Value | Change | %Change |
|---|
The bank’s gross advances stood at ₹2,54,250 crore, marking a 0.9% sequential growth (QoQ) and a 3% year-on-year (YoY) increase.
HDFC Bank’s total deposits grew by 2.5% QoQ and 15.8% YoY, reaching ₹2,56,350 crore. However, the bank’s CASA deposits, a critical metric of low-cost funding, decreased by 1.2% QoQ and 4.4% YoY, standing at ₹87,250 crore.
The dip in CASA deposits has contributed to a reduction in the bank’s CASA ratio, which stands at 34.04% as of Q3, compared to 35.34% in the previous quarter and 37.74% in the same period last year.
On a more positive note, HDFC Bank witnessed a 4.6% increase in time deposits, which rose to ₹1,69,100 crore, up 22.7% from the same quarter last year.
HDFC Bank’s Assets Under Management (AUM) showed healthy growth, up 2.5% QoQ and 7.6% YoY, reaching ₹2,62,760 crore.
HDFC Bank’s credit-deposit ratio stood at 99.18%, slightly down from 100.76% in Q2 and 111.53% in Q3 FY2024, reflecting a moderate reduction in loan growth relative to deposits.
HDFC Bank merged with HDFC in July 2023, adding a large pool of loans to its portfolio but a much smaller volume of deposits.
Over the past few months, India’s largest private lender has offered retail loans for sale to reduce its loan-to-deposit ratio, a key metric for banks to assess their liquidity position.
Separately, HDFC Bank late on Friday said that the Reserve Bank of India had allowed it to acquire a stake of up to 9.5% in Kotak Mahindra Bank, AU Small Finance Bank and Capital Small Finance Bank within a year from the approval date.
#Q3BusinessUpdate | @HDFC_Bank
Gross Advances Up 0.9% QoQ & 3% YoY At ₹25,425 Bn
Deposits Up 2.5% QoQ & 15.8% YoY At ₹25,635 Bn
CASA Deposits Down 1.2% QoQ & 4.4% YoY At 8,725 Bn
Time Deposits Up 4.6% QoQ & 22.7% YoY At ₹16,910 Bn
AUM Up 2.5% QoQ & 7.6% YoY At ₹26,276… pic.twitter.com/yfxy63X18B
— CNBC-TV18 (@CNBCTV18Live) January 4, 2025
With inputs from Reuters