Bank loans

HDFC Bank loans surge over 14% to Rs 11.47 lakh crore in June

HDFC Bank on Monday reported a growth of 14.4% in advances to over Rs 11.47 lakh crore as of June 30 this year. “Advances from the bank amounted to approximately Rs 11.475 billion as of June 30, 2021, a growth of approximately 14.4% from Rs 10.033 billion as of June 30, 2020 and a growth of approximately 1 .3% from Rs 11.328 billion on March 31, 2021,” HDFC Bank said in a regulatory filing.

The private sector lender said its domestic retail lending at the end of the first quarter of the current fiscal year was up 10.5% year-on-year, while domestic wholesale lending was up about 17% .

Among loan categories, retail loans increased approximately 9% from June 30, 2020 and decreased approximately 1% from March 31, 2021.

Commercial and rural bank lending was up about 25% from June 30, 2020 and about 4% from March this year. Other wholesale loans were up about 10.5% from June last year and about 1.5% from March 2021.

Retail disbursements in the first quarter of FY22 amounted to around 43,600 crore rupees (436 billion rupees), 202% higher than a year ago. However, it declined by 30% from Rs 62,500 crore (Rs 625 billion) in the quarter ended March 2021.

These retail disbursements included home loans from parent company HDFC Ltd.

On the deposits front, the bank recorded a growth of 13.2% to Rs 13.46 lakh crore (Rs 13.460 billion) as of June 30, 2021. It increased by 0.8% from Rs 13.35 lakh crore (Rs 13,351 billion) in March 2021.

Retail deposits were up around 16.5% year-on-year and around 3.5% in March, and wholesale deposits were flat from June last year, but down about 10% from March this year, the bank said.

“During the quarter ended June 30, 2021, the bank purchased loans totaling Rs. Development Finance Corporation Limited,” he added.

Shares of HDFC Bank were trading at 1,500.95 rupees each on the BSE, up 1.35% from its previous close.