HDFC Bank’s deposit growth for the second quarter of the financial year (Q2 FY25) has outpaced its credit growth on a sequential basis.
HDFC Bank Representational image (Photo:IANS)
HDFC Bank’s deposit growth for the second quarter of the financial year (Q2 FY25) has outpaced its credit growth on a sequential basis. According to an exchange filing on Friday, the bank reported a 5.1% growth in deposits compared to Q1FY25, while its advances during the same period rose by 1.3%.
Year-on-year (Y-o-Y), HDFC Bank’s deposit growth in Q2 FY25 outpaced its credit growth. Its deposit base stood at Rs 25 trillion, up 15.1% Y-o-Y from the corresponding period a year ago, while its gross advances stood at Rs 25.19 trillion, up 7% year-on-year. In Q2 FY25, the bank also securitised Rs 19,200 crore of loans as a strategic initiative to lower its high LDR.
Advertisement
The bank’s current account savings account deposits stood at Rs 8.83 trillion in Q2 FY25, up around 8% compared to Q2FY24. Such deposits are up 2.3% compared to Q1 FY25. The time deposits stood at Rs 16.16 trillion in Q2 FY25, 19.3% higher than the same period last year, and 6.7% higher than the previous quarter, reflecting customer preference for time deposits during this stage of the rate cycle.
Advertisement
In its filing, the bank said that its advances under management stood at Rs 26.33 trillion in Q2 FY25, up 8% Y-o-Y and 2.3 per cent sequentially. HDFC’s retail loans grew by around Rs 33,800 crore in the quarter; commercial and rural banking loans grew by around Rs 38,000 crore; and corporate and other wholesale loans were lower by Rs 13,300 crore compared to Q1 FY25.
Advertisement
