HDFC Bank has announced its key business performance highlights for the quarter ended December 31, 2024, showcasing robust growth in deposits and advances.
The bank’s total deposits stood at ₹25,63,500 crore as of December 31, 2024, reflecting a 15.8% year-on-year (YoY) increase compared to ₹22,14,000 crore in the same period last year. On a quarter-on-quarter (QoQ) basis, deposits grew by 2.5% from ₹25,00,100 crore as of September 30, 2024.
- Deposits:
- Total deposits: ₹25,63,500 crore (15.8% YoY growth, 2.5% QoQ growth).
- CASA deposits: ₹8,72,500 crore (4.4% YoY growth, -1.2% QoQ decline).
- Time deposits: ₹16,91,000 crore (22.7% YoY growth, 4.6% QoQ growth).
- Average deposits grew 15.9% YoY to ₹24,52,700 crore for the quarter.
- Advances:
- Average advances under management: ₹26,27,600 crore (7.6% YoY growth, 2.5% QoQ growth).
- Period-end advances under management: ₹26,84,000 crore (6.1% YoY growth, 1.9% QoQ growth).
- Gross advances (period-end): ₹25,42,500 crore (3.0% YoY growth, 0.9% QoQ growth).
- Segment-wise Growth in Advances (YoY):
- Retail loans grew by 10.0%.
- Commercial & rural banking loans increased by 11.5%.
- Corporate and other wholesale loans declined by 10.3%.
- Strategic Initiatives:During the quarter, the bank securitized/assigned loans worth ₹21,600 crore, bringing the year-to-date total to ₹46,300 crore.
The bank’s CASA deposits, which reflect low-cost funds, saw a modest 4.4% YoY growth to ₹8,72,500 crore as of December 31, 2024. However, time deposits showed significant growth, rising by 22.7% YoY to ₹16,91,000 crore, indicating customer preference for fixed-term deposits amidst rising interest rates.
HDFC Bank’s credit-deposit ratio and diversified loan book highlight its continued focus on both secured and retail segments. Despite a decline in corporate loans, retail and rural lending have driven overall growth.
This performance update is provisional and subject to limited review by the bank’s statutory auditors.
