HDFC Bank gains after reporting double-digit growth in deposits and advances in Q3
Jan 06, 2021 09:21 AM | Source: capitalmarket.com
HDFC Bank rose 0.41% to Rs 1433.60 after the bank said its advances grew around 16% to approximately Rs 10,82,000 crore as of 31 December 2020 compared with Rs 9,36,000 crore as of 31 December 2019.
The bank's advances reported a growth of around 4% compared with Rs 10,38,300 crore as of 30 September 2020 (Q2 FY21).
The bank's deposits aggregated to approximately Rs 12,71,000 crore as of 31 December 2020 (Q3 FY21), up by around 19% compared with Rs 10,67,400 crore as of 31 December 2019 (Q3 FY20). Sequentially, the deposits increased by around 3% from Rs 12,29,300 crore as of Q2 FY21.
The bank's CASA ratio stood at around 43% as of 31 December 2020, as against 39.5% as of 31 December 2019 and 41.6% as of 30 September 2020.
During the quarter ended 31 December 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 (HDFC).
HDFC Bank is one of India's leading private banks. As of 30 September 2020, the bank has 5,430 branches and 15,292 ATMs across 2,848 cities.
The bank's net profit increased 18.4% to Rs 7513.11 crore on a 6.9% rise in total income to Rs 36,069 crore in Q2 September 2020 over Q2 September 2019.