India's biggest private lender HDFC Bank on Friday said that the sequential rise in deposits outpaced loan growth in the fiscal second quarter. The Mumbai-based bank's gross advances, or loans sanctioned and disbursed,

HDFC Bank's total advances under management, which include loans securitised or sold, stood at ₹26.34 lakh crore by the end of September 2024.

Retail loans grew by around Rs 33,800 crore while commercial and rural banking loans grew by around Rs 38,000 crore from a quarter earlier, HDFC Bank said

The country's biggest private bank said gross advances, or loans sanctioned and disbursed, rose 1.3% sequentially to 25.19 billion rupees ($300 million) in the quarter ended Sept. 30 following a 0.8% decline in the previous quarter. Deposits rose 5.1% from the previous quarter to 25 billion rupees, following no growth in April-June.

Private sector HDFC Bank on Friday said the bank has registered a 7 per cent rise in loans to Rs 25.19 lakh crore in the second quarter of this fiscal. The credit book was Rs 23.54 lakh crore as of September 30 last year.

Update: HDFC Bank’s deposits grew 15.1% to ₹25.00 lakh crore in Q2FY25 from ₹21.73 lakh crore crore in Q2FY24. Deposit growth was around 5.1% from ₹23.79 lakh crore as of June 30, 2024.

This would be the latest in a series of moves the bank has taken to normalise its balance sheet and enhance its NIM.

HDFC Bank reported a 15% year-on-year rise in deposits to Rs 25 lakh crore for the quarter ending September 2024. Advances under management increased by 8%, reaching Rs 26.33 lakh crore. Gross advances grew by 7% to Rs 25.

HDFC Bank’s deposit growth for the second quarter of the financial year (Q2 FY25) has outpaced its credit growth on a sequential basis.

A recent report by Macquarie Research indicated that HDFC Bank's LDR, from a peak of approximately 110 per cent, has declined to 103.5 per cent | (Photo: Shutterstock) The country’s largest private sector lender had earlier indicated that it would grow its advances at a slower pace than deposits,

The bank's gross advances, or loans sanctioned and disbursed, rose by 1.3% to Rs 25.19 lakh crore in the quarter ending September, following a slight 0.8% decline in the previous quarter.