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HDFC Bank posts healthy credit and deposit growth in Q2FY21; advances grew by 16 pct

HDFC Bank posts healthy credit and deposit growth in Q2FY21; advances grew by 16 pct
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HDFC Bank

Highlights

The private lender HDFC Bank on Monday said it has recorded a 16 per cent year-on-year growth in advances in the September quarter compared to the corresponding quarter last year.

The private lender HDFC Bank on Monday said it has recorded a 16 per cent year-on-year growth in advances in the September quarter compared to the corresponding quarter last year. Its advances aggregated to approximately Rs 10,370 billion (Rs 10.37 lakh crore) in the quarter ended September 30, 2020. It is a growth of 16 per cent as compared to Rs 8,970 billion (Rs 8.9 lakh crore) posted in the same period last year.

The advances in Q2FY21 grew by around 3 per cent as compared to Rs 10,033 billion (Rs 10.33 lakh crore) posted in the previous quarter ended June 30, 2020 (Q1FY21).

The bank in its regulatory filing said, on the liabilities sides its deposits aggregated to approximately Rs 12,290 billion (Rs 12.29 lakh crore) as of September 30, 2020, a growth of around 20 per cent as compared to Rs 10,216 billion (Rs 10.21 lakh crore) as of September 30, 2019. It is a growth of around 3 per cent as compared to Rs 11,894 billion (Rs 11.89 lakh crore) as of June 30, 2020.

The Bank's CASA ratio stood at around 42 per cent as of September 30, 2020, as compared to 39.3 per cent as of September 30, 2019, and 40.1 per cent as of June 30, 2020.

During the quarter ended September 30, 2020, the Bank purchased loans aggregating Rs 30.26 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.

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