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HDFC Bank Q2 Results: Advances up 7% YoY; Deposits grow 15% amid strategic share

HDFC Bank Q2 Results FY25 update reveals total advances of ₹26,335 billion, showing an 8% YoY increase and a 2.3% rise from the previous quarter's ₹25,750 billion.

HDFC Bank Q2 Results: HDFC Bank released its business update for the quarter ending September 30, 2024 (Q2 FY25) on October 4. The bank reported that its total advances under management reached ₹26,335 billion, marking an increase of approximately 8.0% from ₹24,374 billion a year earlier and a growth of around 2.3% from ₹25,750 billion as of June 30, 2024.

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During this quarter, retail loans increased by about ₹338 billion, while commercial and rural banking loans grew by approximately ₹380 billion. However, corporate and other wholesale loans decreased by ₹133 billion compared to the previous quarter. The bank’s gross advances totaled around ₹25,190 billion, reflecting a year-on-year growth of 7.0% from ₹23,546 billion.

Additionally, HDFC Bank securitized or assigned loans worth ₹192 billion in this quarter, bringing the year-to-date total to ₹246 billion as part of its strategic initiatives. The bank also reported total deposits of ₹25,000 billion, up 15.1% from ₹21,729 billion in the previous year and an increase of 5.1% from ₹23,791 billion as of June 30, 2024.

The bank’s CASA deposits were ₹8,835 billion, showing an increase of around 8.0% compared to ₹8,177 billion from the previous year and a growth of 2.3% from ₹8,636 billion as of June 30, 2024.

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In related news, Morgan Stanley and Citigroup purchased over ₹755 crore worth of HDFC Bank shares through open market transactions. The two financial services firms acquired 43.75 lakh shares at an average price of ₹1,726.2 per share, amounting to ₹755.29 crore. These shares were sold by BNP Paribas’ subsidiary, BNP Paribas Financial Markets, as part of two block deals.

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