Company Update : HDFC Bank Ltd By Motilal Oswal Financial Services Ltd
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Deposit growth on track; sell-down of advances results in lower advances growth
HDFCB released its 3QFY25 business update. Following are the key takeaways:
*Gross advances grew 3% YoY/0.9% QoQ to INR25.4t. Gross of transfers through IBPCs and bills rediscounted, the loan book grew 6.1% YoY/1.9% QoQ.
*As per the bank’s internal classification, domestic retail loans grew 10% YoY, commercial & rural banking grew 11.5% YoY, and wholesale loans decreased by 10.3% YoY.
*Deposits increased by 15.8% YoY/2.5% QoQ to INR25.6t. CASA deposits declined 1.2% QoQ (up 4.4% YoY), whereas term deposits grew 22.7% YoY/4.6% QoQ to INR16.9t.
*Growth in advances was lower as the bank sold down its advances book. On the deposit front, the bank added ~INR0.6t in 3Q, which was slightly below estimates. However, deposit growth remained healthy at 15.8%, outperforming the systemwide deposit growth of 11.5%.
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
