HDFC Bank's deposits at ₹ 19,130 billion as of June 30, 2023

HDFC Bank's advances aggregated to approximately ₹ 16,155 billion as of June 30, 2023, a growth of around 15.8% over ₹ 13,951 billion as of June 30, 2022 and a growth of around 0.9% over ₹ 16,006 billion as of March 31, 2023. Gross of transfers through inter-bank participation certificates and bills rediscounted, the Bank's advances grew by around 20.2% over June 30, 2022 and around 1.9% over March 31, 2023.

As per the Bank's internal business classification, domestic retail loans grew by around 20.0% over June 30, 2022 and around 4.0% over March 31, 2023; commercial & rural banking loans grew by around 29.0% over June 30, 2022 and around 2.0% over Mach 31, 2023; and corporate & other wholesale loans grew by around 11.0% over June 30, 2022 and were lower by around 1.0% over March 31, 2023.

2) The Bank's deposits aggregated to approximately ₹ 19,130 billion as of June 30, 2023, a growth of around 19.2% over ₹ 16,048 billion as of June 30, 2022 and a growth of around 1.6% over ₹ 18,834 billion as of March 31, 2023.

Retail deposits increased by around ₹ 380 billion during the quarter, and grew by around 21.5% over June 30, 2022 and around 2.5% over March 31, 2023; wholesale deposits grew by around 9.0% over June 30, 2022 and were lower by around 2.5% over March 31, 2023.

The Bank's CASA deposits aggregated to approximately ₹ 8,130 billion as of June 30, 2023, a growth of around 10.7% over ₹ 7,346 billion as of June 30, 2022 and were lower by around 2.7% over ₹ 8,360 billion as of March 31, 2023. Retail CASA grew by around 11.0% over June 30, 2022 and was lower by around 2.0% over March 31, 2023. The Bank's CASA ratio stood at around 42.5% as of June 30, 2023, as compared to 45.8% as of June 30, 2022, and 44.4% as of March 31, 2023.

During the quarter ended June 30, 2023, the Bank purchased loans aggregating ₹ 116.32 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.

The above information as of June 30, 2023 is subject to a limited review by the statutory auditors of the Bank.

HDFC Limited amalgamated with and into HDFC Bank on July 01, 2023. The bank has announced the following for the merged Balance Sheet of HDFC Bank Limited and HDFC Limited (hereinafter referred to as the 'Merged entity') on a proforma basis. Further, in order to facilitate the merging of the financials of HDFC Limited with those of the Bank, HDFC Limited closed its books of accounts a few days prior to the quarter ended June 30, 2023 and accordingly some of the numbers may not be directly comparable with those of the previous year.

The Merged entity's gross advances aggregated to approximately ₹ 22,450 billion as of June 30, 2023, a growth of around 13.1% over ₹ 19,859 billion as of June 30, 2022, and a growth of around 0.7% over ₹ 22,302 billion as of March 31, 2023.

The Merged entity's gross advances, excluding wholesale advances of HDFC Ltd, aggregated to approximately ₹ 21,365 billion as of June 30, 2023, a growth of around 15.3% over ₹ 18,522 billion as of June 30, 2022, and a growth of around 1.3% over ₹ 21,097 billion as of March 31, 2023.

The Merged entity's deposits aggregated to approximately ₹ 20,635 billion as of June 30, 2023, a growth of around 16.2% over ₹ 17,760 billion as of June 30, 2022, and a growth of 1.2% over ₹ 20,394 billion as of March 31, 2023.

The Merged entity's average LCR for the quarter ended June 30, 2023, was around 120% on a proforma basis.

Shares of HDFC Bank Limited was last trading in BSE at Rs. 1728.65 as compared to the previous close of Rs. 1719.55. The total number of shares traded during the day was 291561 in over 8008 trades.

The stock hit an intraday high of Rs. 1746.45 and intraday low of 1713.75. The net turnover during the day was Rs. 504159372.00.

Source : Equity Bulls

Keywords

HDFCBank INE040A01034 HDB Merger BusinessUpdate Advances Deposits