HDFC Bank has announced its Q2 FY25 business update, highlighting a year-on-year growth of 8% in advances under management, which reached ₹26,335 billion as of September 30, 2024. Deposits grew by 15.1% YoY to ₹25,000 billion, reflecting robust customer demand, especially in time deposits.
Key highlights:
- Advances under management: ₹26,335 billion as of September 30, 2024, up 8.0% YoY and 2.3% QoQ.
- Gross advances: ₹25,190 billion, showing 7% YoY growth.
- Deposits: ₹25,000 billion, reflecting 15.1% YoY growth and 5.1% QoQ growth. CASA deposits grew by 8.0% YoY.
- Time deposits: Saw strong growth of 19.3% YoY, reflecting a shift in customer preference.
- Liquidity coverage ratio: The bank maintained a strong liquidity coverage ratio of 127% for the quarter.
HDFC Bank’s performance shows continued strength in its lending and deposit growth, with focus on credit costs in the upcoming earnings call. The results are subject to a limited review by statutory auditors.
Disclaimer: This information is for informational purposes only and should not be considered investment advice. Please consult a financial advisor before making any investment decisions.