HDFC Bank reports 52.6% jump in gross advances

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HDFC Bank has reported a 52.6 per cent year-on-year (yoy) jump in gross advances and 24.4 per cent yoy growth in total deposits in Q1FY25. These figures take into account the impact of merger of erstwhile HDFC Ltd with the Bank on July 1, 2023.

Gross advances aggregated to approximately ₹24,87,000 crore as of June 30, 2024 against ₹16,30,000 crore as of June 30, 2023.

Excluding the impact of the aforementioned merger, the bank’s gross advances grew by 14.9 per cent over June 30, 2023.

During the quarter, retail loans grew by around ₹18,600 crore; commercial & rural banking loans grew by around ₹7,200 crore; and corporate & other wholesale loans were lower by ₹26,600 crore over March 31, 2024, per the Bank’s regulatory filing.

Deposits

The Bank’s deposits were at ₹23,79,000 crore as of June 30, 2024 against ₹19,13,100 crore as of June 30, 2023. Excluding the July 2023 merger impact, the Bank’s deposits grew by 16.5 per cent over June 30, 2023.