HDFC Bank's Q2 Gross Advances Up 1.3% To Rs 25.2 Lakh Crore

HDFC Bank Ltd.'s gross advances for the quarter ended September witnessed a rise of 1.3% on quarter to Rs 25.2 lakh crore, according to provisional numbers disclosed to exchanges. On a year-on-year basis, India's largest private sector bank's gross advances grew 7%.

These provisional earnings numbers reflect the full effect of the merger with Housing Development Finance Corp., which took force in July 2023.

Deposits which have lagging credit growth grew 3.1% on quarter and 15.4% on year to Rs 23.5 lakh crore.

Of this, current account savings account deposit declined 0.3% on quarter but rose 7.3% on year.

As of September end, the bank's liquidity coverage ratio was around 127%.

Advances under management were up 2.3% on quarter and 8% on year to Rs 26.3 lakh crore. During the quarter, retail loans grew by around Rs 33,800 crore on quarter, followed by commercial and rural banking loans by Rs 38,000 crore. Corporate and other wholesale loans were lower by Rs 13,300 crore.

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