Money & Banking

HDFC Bank reports 15.4 per cent growth in advances

Our Bureau Mumbai | Updated on October 06, 2021

Disbursements rise for most lenders in Q2

Disbursements by lenders have shown a recovery in the second quarter of the fiscal, though deposits continue to outpace advances.

Private sector lender HDFC Bank reported a 15.4 per cent growth in advances to ₹ 11.98 lakh crore as of September 30, 2021 from ₹ 10.38 lakh crore a year ago.

According to its internal business classification, retail loans grew by around 13 per cent over September 30, 2020; commercial and rural banking loans grew by around 27.5 per cent over September 30, 2020; and other wholesale loans grew by around 6 per cent over September 30, 2020.

In a stock exchange filing on Tuesday, HDFC Bank said its deposits aggregated to about ₹ 14.06 lakh crore as of September 30, 2021, a growth of around 14.4 per cent over ₹ 12.29 lakh crore as of September 30, 2020.

IndusInd Bank reported a 10 per cent growth in its net advances to ₹ 2.21 lakh crore as of September 30, 2021 from ₹ 2.01 lakh crore a year ago.

Deposits grew by a sharper pace of 21 per cent to ₹ 2.75 lakh crore at the end of the second quarter this fiscal as against ₹ 2.28 lakh crore as on September 30, 2020.

IDFC First Bank reported a 9.75 per cent growth in its gross funded assets at ₹ 1.17 lakh crore as on September 30, 2021 compared to ₹ 1.06 lakh crore a year ago.

“Retail funded assets grew by 7 per cent during the second quarter of the fiscal as compared to the first quarter, out of which housing loan registered strong quarter on quarter growth of 11 per cent and other retail loans registered quarter on quarter growth of 6.3 per cent,” it said in a stock exchange filing.

Total customer deposits grew 20.8 per cent on a year-on-year basis to ₹ 83,793 crore as on September 30, 2021. However, on a quarter on quarter basis, it declined by 1.3 per cent.

Mahindra and Mahindra Financial Services announced that, in September 2021, the total disbursement at about ₹ 1,900 crore delivered a 23 per cent year-on -year growth, though it was on a lower base. During the second quarter, its total disbursements touched ₹ 6,450 crore, registering a growth of 60 per cent year on year over the second quarter of 2020-21.

Published on October 05, 2021

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