MUMBAI: HDFC Financial institution has reported a file addition of Rs 1.66 lakh crore in deposits for the quarter ended March 2024, in an try and bridge the hole between its mortgage guide and deposits following the merger of HDFC with itself. A big 77% of the incremental deposits (Rs 1.28 lakh crore) got here from retail clients.
As of March 31, 2024, the nation’s largest financial institution’s gross advances elevated by 1.6% quarter-on-quarter to slightly over Rs 25 lakh crore from Rs 24.7 lakh crore in Dec 2023.Throughout the identical interval, the financial institution’s deposits rose 7.5% to Rs 23.8 lakh crore from Rs 22.1 lakh crore.
The year-on-year progress in advances and deposits stood at 55.4% and 26.4% respectively. Nevertheless, these numbers don’t precisely mirror the state of affairs for the reason that figures are for the interval ended March 31, 2024, which embody operations of the erstwhile HDFC, which merged with and into HDFC Financial institution on July 1, 2023.
“HDFC Financial institution (excluding the erstwhile HDFC’s deposits) has mobilised round Rs 3.5 lakh crore of deposits in FY24,” mentioned Suresh Ganapathy from Macquarie.
As of March 31, 2024, the nation’s largest financial institution’s gross advances elevated by 1.6% quarter-on-quarter to slightly over Rs 25 lakh crore from Rs 24.7 lakh crore in Dec 2023.Throughout the identical interval, the financial institution’s deposits rose 7.5% to Rs 23.8 lakh crore from Rs 22.1 lakh crore.
The year-on-year progress in advances and deposits stood at 55.4% and 26.4% respectively. Nevertheless, these numbers don’t precisely mirror the state of affairs for the reason that figures are for the interval ended March 31, 2024, which embody operations of the erstwhile HDFC, which merged with and into HDFC Financial institution on July 1, 2023.
“HDFC Financial institution (excluding the erstwhile HDFC’s deposits) has mobilised round Rs 3.5 lakh crore of deposits in FY24,” mentioned Suresh Ganapathy from Macquarie.
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HDFC Financial institution deposits develop Rs 1.66 lakh crore in Q4FY24
HDFC Financial institution reported a file Rs 1,66,000 crore deposit rise publish the merger with HDFC. Retail clients contributed considerably. Gross advances elevated by 1.6%. Retail loans grew by 8.9%, with CASA deposits reaching Rs 9,09,000 crore.
HDFC Financial institution reported a file Rs 1,66,000 crore deposit rise publish the merger with HDFC. Retail clients contributed considerably. Gross advances elevated by 1.6%. Retail loans grew by 8.9%, with CASA deposits reaching Rs 9,09,000 crore.
