India's largest private lender HDFC Bank on Wednesday, October 4, said its advances have aggregated to approximately Rs 23.54 lakh crore as of September 30, 2023, rising 57.7 percent over Rs 14.93 lakh crore reported in the corresponding quarter of FY23 and around 44.4 percent growth over Rs 16.30 lakh crore reported for the three months ended June 30, 2023.

Gross of transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.0 percent over September 30, 2022 and around 43.0 percent over June 30, 2023, the bank informed in an exchange filing.

The bank's deposits climbed 29.9 percent to Rs 21.73 lakh crore for the quarter under review versus Rs 16.73 lakh crore in Q2FY23. The are up 13.6 percent quarter-on-quarter, as per the filing. The deposits stood at Rs 19.13 lakh crore in the quarter ended June 30, 2023.

The bank's current and savings account (CASA) deposits aggregated to approximately Rs 8.17 lakh crore as of September 30, 2023, a growth of around 7.6 percent over Rs 7.59 lakh crore as of the corresponding quarter of last year and around 0.6 percent over Rs 8.13 lakh crore as of the previous June quarter.

The CASA ratio stood at around 37.6 percent as of September 30, 2023, compared to 45.4 percent as of September 30, 2022, and 42.5 percent as of June 30, 2023, the bank said.

Merged Entity Q1 Update

The company also shared information about the merged balance sheet of HDFC Bank and HDFC Ltd.

HDFC Bank said that after the merger with the parent company HDFC Ltd, the bank reported highest ever home loan disbursals at around Rs 48,000 crore. This is a growth of 14 percent quarter-on-quarter and a growth of 10.5 percent over the same quarter last year.

The bank's gross advances aggregated to approximately Rs 23.54 lakh crore as of the reported quarter. Its advances grew by around Rs 1.10 lakh crore in the quarter, registering a growth of around 4.9 percent over the proforma merged advances of Rs 22.44 lakh crore as of June 30, 2023.

The bank's deposits aggregated to approximately Rs 21.73 lakh crore as of September 30, 2023. Deposits grew by around Rs 1.09 lakh crore in the quarter registering a growth of around 5.3 percent over the proforma merged deposits of Rs 20.63 lakh crore as of June 30, 2023.

Shares of HDFC Bank gained a percent to trade at Rs 1,523.35 apiece during Wednesday's afternoon deals. The stock has tumbled 4 percent in the last one month following the takeover of HDFC Ltd. However, analysts consider it to be trading at attractive valuations and believe it offers a favorable risk-reward for long-term investors.