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HDFC Bank Q3 Update: Robust Growth in Gross Advances and Deposits

HDFC Bank Q3 Update: In the latest update for the third quarter of the financial year 2023-24, HDFC Bank has reported substantial growth in both gross advances and deposits. HDFC Bank’s money pile got bigger, reaching around ₹22.14 lakh crore by December 31, 2023. This is almost 27.7% more than the ₹17.33 lakh crore they had in 2022. Let’s delve into the details of this notable development.

Gross Advances Soar

In the HDFC Bank Q3 update, as of December 31, 2023, HDFC Bank’s gross advances reached an impressive ₹24.69 lakh crore, marking a remarkable surge of 62.4% from the previous year. This robust growth is a clear indication of the bank’s strengthened lending portfolio.

HDFC Bank Q3 update

Segment-wise Loan Growth

The bank’s domestic retail loans experienced a staggering 111% year-on-year growth, coupled with a steady 3.0% quarter-on-quarter increase. Loans for businesses and rural areas grew a lot – they went up by 31.5% from last year and also went up by a good 6.5% from the last three months. Corporate and other wholesale loans demonstrated growth of around 11.0% and 2.0% over the corresponding periods.

Deposits Register Impressive Surge

As part of the HDFC Bank Q3 update, the deposits experienced a significant increase, reaching approximately ₹22.14 lakh crore by the end of December 2023. This reflects a substantial YoY growth of 27.7%. The detailed breakdown reveals intriguing insights into the composition of this growth.

HDFC Bank Q3 update

CASA Deposits and Ratio

The current account savings account (CASA) deposits amounted to about ₹8.35 lakh crore in Q3FY24, showcasing a 9.5% increase from December 2022 and a 2.2% increase from September 2023. Retail CASA, a vital component, grew by 10.0% over December 2022 and 2.3% over September 2023. Notably, the CASA ratio stood at around 37.7%, demonstrating a shift from the previous figures.

HDFC Bank Q3 update: Share Market Performance

In contrast to the positive financial indicators highlighted in the HDFC Bank Q3 update, HDFC Bank shares have shown a subdued performance in the stock market. Over the past year, the stock has yielded just over 5% returns, significantly trailing behind Nifty 50’s robust gains of over 20% during the same period. At 9:35 am, HDFC Bank’s share price, as part of the HDFC Bank Q3 update, dropped a bit, 0.39% less, trading at ₹1,683.45 each on the BSE.

HDFC Bank Q3 update

Conclusion

In conclusion, HDFC Bank Q3 update paints a picture of resilience and growth in its lending and deposit portfolios. The significant surge in gross advances and deposits reflects positively on the bank’s operational strength, even though the stock market performance suggests a nuanced scenario. Investors and stakeholders will keenly observe how these dynamics unfold in the coming quarters.

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2 Comments

  • HDFC Bank Q3 update on DailyRadar.in. 🏦💼 It’s interesting to see how the bank is performing and adapting to the changing economic landscape. 💰📈 #BankingUpdates

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