HDFC Bank reports over 14% loan growth in Q1; deposits grow 13.2% YoY

Private lender HDFC Bank on Monday reported more than 14 percent growth in advances and over 13 percent on-year rise in total deposits for the first quarter of fiscal 2021.

In its quarterly business update, HDFC Bank said its advances aggregated to Rs 11,47,500 crore as of June 30, 2021, a growth of around 14.4 percent over Rs 10,03,300 crore as of June 30, 2020, and a growth of around 1.3 percent over Rs 11,32,800 crore as of March 31, 2021.

“As per the Basel 2 segment classification, domestic retail loans as of June 30, 2021, grew by around 10.5% over June 30, 2020, and remained at a level similar to that as of March 31, 2021; domestic wholesale loans as of June 30, 2021, grew by around 17.0% over June 30, 2020, and around 2.0% over March 31, 2021,” HDFC Bank said.

Among loan categories, retail loans grew by around nine percent YoY and were lower by around one percent QoQ; commercial and rural banking loans grew by around 25 percent YoY and around four percent sequentially.

Other wholesale loans grew by around 10.5 percent YoY and around 1.5 percent QoQ.

Retail Disbursements (including home loans sourced under the arrangement with Housing Development Finance Corporation Limited), during Q1FY22, jumped to Rs 43,600 crore from Rs 14,400 crore disbursed during the corresponding period of the previous year.

Retail Disbursements were around 30 percent lower than Rs 62,500 crore disbursed during the previous quarter.

The bank’s deposits in Q1FY22 rose 13.2 percent to Rs 13,46,000 crore from Rs 11,89,400 crore, YoY and 0.8 percent from Rs 13,35100 crore, QoQ.

Retail deposits grew by around 16.5 percent YoY and around 3.5 percent QoQ, while wholesale deposits remained stable as compared to June 30, 2020, and were lower by around 10.0 percent as compared to March 31, 2021.

The bank’s CASA deposits during the quarter under review increased 28.2 percent to Rs 612,000 crore from Rs 477,400 crore, YoY, but declined by 0.6 percent from Rs 615,700 crore, QoQ.

The bank’s CASA ratio stood at around 45 percent as of June 30, 2021, as compared to 40.1 percent as of June 30, 2020, and 46.1 percent as of March 31, 2021.

During the quarter ended June 30, 2021, the bank purchased loans aggregating Rs 5,489 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited, it said.

At 10:20 am, the shares of HDFC Bank were trading 1.27 percent higher at Rs 1,499.40 apiece on the BSE.