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HDFC Bank records 21.5% loan growth in Q1

Private sector HDFC Bank said on Monday that it had registered a loan growth of 21.5 per cent to Rs 13,95,000 crore in the first quarter of this fiscal.

As on June 30 last year, the credit book was Rs 11,47,700 crore.

Gross transfers through certificates of interbank participation and bills, the bank’s progress has increased by about 22.5 percent compared to June 30, 2021, HDFC Bank said in a regulatory filing.

As on June 30, 2022, the bank’s deposits were around Rs 16,05,000 crore, an increase of about 19.3 per cent over Rs 13,45,800 crore as on June 30, 2021, it added.

For the quarter ended June 30, 2022, the bank purchased a total of Rs 9,533 crore in loans through a direct assignment route under the home loan system with Parent Housing Development Finance Corporation (HDFC) Limited, it said.

On April 4, HDFC Bank, India’s largest private lender, created a financial services Titan, agreeing to accept the largest domestic mortgage lender in a deal worth about USD 40 billion.

The combined assets of the proposed entity will amount to around Rs 18 lakh crore. Consolidation is expected to be completed in the second or third quarter of FY24, subject to regulatory approval.

If the agreement goes into effect, HDFC Bank will be 100 percent owned by public shareholders and HDFC’s existing shareholders will own 41 percent of the bank.

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