HDFC Bank - Business Growth Remains Strong; Current Account-Savings Account Mix Increases: Motilal Oswal
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Motilal Oswal Report
HDFC Bank Ltd. released its quarterly update highlighting key business numbers for Q3 FY22. Following are the takeaways:
Total advances picked up and grew 16.4% YoY (up 5.1% QoQ) to Rs 12.6 trillion. As per the bank’s internal classification, retail loans grew 13.5% YoY (up 4.5% QoQ). Commercial and rural banking continue to remain strong (up 29.5% YoY and 6% QoQ). Corporate and other wholesale book too picked up and grew 7.5% YoY and 4.5% QoQ.
HDFC Bank’s deposit base rose 13.8% YoY and 2.8% QoQ to Rs 14.5 trillion. Current account and savings account deposits/term deposit grew 24.6%/5.6% YoY (up 3.5%/up 2.3% QoQ). Current account-saving account mix increased 20 basis point QoQ to 47%. retail/wholesale deposits grew 17%/1% YoY (up 4%/down 1.5% QoQ).
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