Private sector HDFC Bank on Friday said the bank has registered a 7% rise in loans to ₹25.19 lakh crore in the second quarter of this fiscal.
The credit book was ₹23.54 lakh crore as of September 30 last year.
During the quarter ended September 30, 2024, the Bank securitised/assigned loans of ₹19,200 crore (year to date ₹24,600 crore) as a strategic initiative, HDFC Bank said in a regulatory filing. The Bank’s average deposits were ₹23.53 lakh crore for the September 2024 quarter, a growth of around 15.4% against ₹20.38 lakh crore for the September 2023 quarter, it said.
Liquidity coverage ratio (average) was around 127% for the quarter, it added.
HDFC Bank MD and CEO Sashidhar Jagdishan in the annual report 2023-24 had said, “It is our endeavour to bring down the credit to deposit ratio to pre-merger levels and our focus would be to maintain adequate liquidity buffers, repayment of HDFC borrowings as and when they mature, including weighing any prepayment opportunities that may arise, and pursuing profitable sources of lending.”
During this time of adjustment, the bank would grow its advances a little slower than the deposit growth, he had said. “We will avoid pursuing growth which does not meet our risk-adjusted profitability thresholds, in line with the bank’s philosophy,” he had said.
In another filing, state-owned lender UCO Bank reported an 18.56% rise in its loan growth at 1.98 lakh crore as compared to ₹1.67 lakh crore in the same quarter a year ago.
At the same time, Kolkata-based UCO Bank posted a 10.84% increase in deposits at ₹2.99 lakh crore.
Published - October 04, 2024 09:15 pm IST
