Last Update: January 04, 2023, 18:23 IST
On a sequential basis, HDFC Bank reports a growth of 1.8 per cent at Rs 14.7 lakh crore figure for the September 2022 quarter.
HDFC Bank’s corporate and other wholesale loans grew by nearly 20 per cent as on December 31, 2021
Private sector lender HDFC Bank on Wednesday said it has registered a 19.5 per cent growth in loan growth for the third quarter ended December 2022 to Rs 15 lakh crore. The bank’s outstanding loan at the end of December 31, 2021 stood at Rs 12.6 lakh crore. , HDFC Bank said in a regulatory filing.
On a sequential basis, the bank reported a growth of 1.8 per cent at Rs 14.7 lakh crore figure for the September 2022 quarter.
As per the bank’s internal business classification, domestic retail loans grew by about 21.5 per cent on December 31, 2021 and about 5 per cent on September 30, 2022; Commercial and rural banking credit increased by about 30 per cent on December 31, 2021 and about 5 per cent on September 30, 2022.
Corporate and other wholesale loans increased by about 20 per cent on December 31, 2021, but were about 1 per cent lower than on September 30, 2022.
Bank deposits stood at about Rs 17.3 lakh crore as on December 31, 2022, up about 19.9 per cent from Rs 14.4 lakh crore in the year-ago period.
With regard to Current Account Savings Account (CASA) deposits, it said they stood at about Rs 7.6 lakh crore as of December 31, 2022, a growth of about 12 per cent over the same period a year ago.
During the quarter ended December 31, 2022, the bank bought loans worth Rs 8,892 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation (HDFC), its parent entity.
Last April, the country’s largest private lender HDFC Bank agreed to take over the largest home mortgage lender in a deal worth around USD 40 billion, thereby creating a financial services titan.
The proposed entity will have a combined asset base of about Rs 18 lakh crore. The merger is expected to be completed by Q2 or Q3 of FY24, subject to regulatory approvals.
Once the deal becomes effective, HDFC Bank will be 100 per cent owned by public shareholders, and existing shareholders of HDFC will own 41 per cent of the entity.
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(This story has not been edited by News18 staff and is published from a syndicated news agency feed)