HDFC Bank has reported a significant growth in its total deposits for the second quarter of FY25. As of September 30, 2024, the bank’s total deposits stood at ₹25,00,100 crore, marking a 15.1% year-on-year (YoY) increase compared to ₹21,72,000 crore in the same quarter last year. This growth in deposits reflects HDFC Bank’s strong customer acquisition and retention strategies.
Key highlights include:
- CASA deposits (Current and Savings Account) grew by 8.1% YoY, with savings account deposits reaching ₹6,081 crore and current account deposits totaling ₹2,754 crore.
- Time deposits saw a robust growth of 19.3% YoY, reaching ₹16,165 crore as of September 30, 2024, reflecting increased customer preference for fixed-term deposits.
- CASA deposits now comprise 35.3% of the bank’s total deposits.
Additionally, the bank’s average deposits for the September 2024 quarter stood at ₹23,540 crore, representing a 15.5% YoY increase from ₹20,385 crore in Q2 FY24, and a 3.1% rise compared to ₹22,831 crore in the previous quarter ending June 2024.
The bank’s average CASA deposits reached ₹8,084 crore for Q2 FY25, a growth of 7.3% over ₹7,535 crore in Q2 FY24.
This substantial growth in both CASA and time deposits highlights HDFC Bank’s continued focus on deepening customer relationships and strengthening its deposit base.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Please consult your financial advisor before making investment decisions.
