HDFC Bank‘s share price was wobbly on Friday morning as it started the day in red. Shares of the banking giant have ended in the red in the past four consecutive sessions.
What Happened: HDFC Bank saw its gross advances growing by 7% year on year and 1.3% quarter on quarter, reaching ₹25.2 lakh crore as of September 30, 2024. Including securitised or sold loans, total advances under management saw an 8% rise from a year ago, totalling ₹26.34 lakh crore. The figure grew 2.3% from June 2024.
Retail loans grew by ₹33,800 crore, and commercial and rural banking loans increased by ₹38,000 crore. However, corporate and wholesale loans contracted by ₹13,300 crore compared to the previous quarter.
The bank’s total deposits also grew impressively, rising 15.1% year on year to ₹25 lakh crore, with a 5.1% quarter-on-quarter increase. Current and savings account deposits grew 8% year-on-year to ₹8.84 lakh crore, while time deposits surged by 19.3% to ₹16.17 lakh crore from a year ago.
| Key Figures (₹ crore) | 30-Sep-23 | 30-Jun-24 | 30-Sep-24 | QoQ | YoY |
|---|---|---|---|---|---|
| Advances under management | |||||
| Period end | 24,37,400 | 25,75,000 | 26,33,500 | 2.3% | 8.0% |
| Average | 23,26,600 | 25,32,700 | 25,63,000 | 1.2% | 10.2% |
| Gross advances | 23,54,600 | 24,86,900 | 25,19,000 | 1.3% | 7.0% |
| Deposits – period end | |||||
| CASA deposits | 8,177,00 | 8,63,600 | 8,83,500 | 2.3% | 8.0% |
| Time deposits | 13,55,200 | 15,15,500 | 16,16,500 | 6.7% | 19.3% |
| Deposits – average | |||||
| CASA deposits | 7,53,500 | 8,10,600 | 8,08,200 | -0.3% | 7.3% |
| Time deposits | 12,85,000 | 14,72,500 | 15,45,000 | 4.9% | 20.2% |
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On an average basis, advances reached ₹25.63 lakh crore, showing a 10.2% increase from a year earlier, while average deposits rose 15.4% to ₹23.53 lakh crore. CASA deposits grew 7.3%, though they were slightly down 0.3% quarter on quarter. HDFC Bank maintained a liquidity coverage ratio of 127%.
Meanwhile, Morgan Stanley and Citigroup collectively acquired shares of HDFC Bank worth over ₹755 crore through open market transactions. According to block deal data from the BSE, the firms, through their affiliates, purchased 43.75 lakh shares of HDFC Bank at an average price of ₹1,726.2 per share, leading to a combined transaction value of ₹755.29 crore.
BNP Paribas Financial Markets, the affiliate of BNP Paribas, divested the exact same number of shares through two block deals at the same price of ₹1,726.2 per share.
Price Action: HDFC Bank’s share price was down 0.36% to trade at ₹1,676 shortly after the market open on Friday.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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