HDFC Bank reports double-digit increase in deposits and advances in Q3

HDFC Bank

Private sector lender HDFC Bank has reported a double-digit increase in deposits and advances in the third quarter of the fiscal year.

In a regulatory filing on Tuesday, the lender said its advances inflated by 16 percent to Rs 10.82-lakh crore as on December 31, 2020 as compared to Rs 9.36-lakh crore a year ago. This was a growth of around 4 percent when compared to Rs 10.38-lakh crore as of September 30, 2020.

In addition, the bank’s deposits rose by 19 percent in the third quarter of the fiscal to Rs 12.71-lakh crore in comparison to Rs 10.67-lakh crore as of December 31, 2019, and an escalation of nearly 3 percent compared to Rs 12.29 lakh crore as of September 30, 2020.

Furthermore, the lender’s CASA ratio is reported at around 43 percent as of December 31, 2020 as compared to 39.5 percent as of December 31, 2019, and 41.6 percent as of September 30, 2020.

“During the quarter ended December 31, 2020, the bank purchased loans aggregating Rs 7,076 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited,” it further said.

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