Four of top 10 most-valued firms add over Rs 81,000 crore
Last week, four of the top 10 most-valued firms together added Rs 81,151.31 crore in market valuation. ICICI Bank and HDFC Bank emerged as the biggest gainers.
HDFC Bank, the largest private sector lender, recorded a 55.4% YoY growth in terms of gross advances to Rs 25.08 trillion at the end of the last quarter of fiscal year 2024 (Q4 FY24).
It recorded a surge from Rs 16.14 trillion in the year-ago period.
Bank’s advances inched up 1.6% from Rs 24.69 trillion at the end of December 31, 2023 (Q3 FY24).
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According to the bank’s internal business classification, the domestic retail loans grew by around 108.9% over the year-ago period and rose by 3.7% over Q3 FY24.
The commercial and rural banking loans grew by around 24.6% over March 31, 2023, and around 4.2% sequentially.
Private sector lender’s corporate and other wholesale loans, excluding non-individual loans of the erstwhile HDFC Ltd, grew by around 4.1% over March 31, 2023. However, sequentially, the segment witnessed a drop of around 2.2% over December 31, 2023.
Bank’s deposits rose to approximately Rs 23.80 trillion as of March 31, 2024, 26.4% over Rs 18.83 trillion as of March 31, 2023. On a sequential basis, it was nearly 7.5% higher than Rs 22.14 trillion as of December 31, 2023.
In the quarter under review, the retail deposits of the bank grew by 27.8% over the corresponding year-ago period and around 6.9 per cent over December 31, 2023.
Bank’s wholesale deposits of the lender increased by 19.4% from March 31, 2023, and around 10.9% from the deposits on December 31, 2023.
Casa deposits aggregated to nearly Rs 9.09 trillion as of March 31, 2024, registering nearly 8.8% over Rs 8.36 trillion as of December 31, 2023. Retail Casa grew by approximately 6.3% over December 31, 2023.
Notably, the erstwhile HDFC Ltd was merged with HDFC Bank on July 1, 2023, and the figures for Q4 FY24 are not directly comparable to the figures for Q4 FY23.
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