Money & Banking

Private banks report deposit surge, muted advances growth till June 30

Our Bureau. Mumbai | Updated on July 06, 2021

HDFC Bank bucks the trend with 14.4% growth in credit

Private sector banks have reported a steady increase in deposits though advances remained subdued as local lockdowns impacted business activity. On Monday, the banks filed provisional data on deposits and advances with stock exchanges for the period ended June 30, 2021.

Bucking this trend, HDFC Bank reported a 14.4 per cent growth in advances to about ₹11,47,500 crore as of June 30, 2021 compared to ₹10,03,300 crore a year ago. Its domestic retail loans as of June 30, 2021 rose 10.5 per cent over June 30, 2020 and remained at a level similar to that of March 31, 2021. Domestic wholesale loans jumped around 17 per cent over June 30, 2020 and around 2 per cent over March 31, 2021, HDFC Bank said in its filing.

The bank’s deposits grew 13.2 per cent to about ₹13,46,000 crore as of June 30, 2021 versus ₹11,89,400 crore a year ago.

YES Bank reported a 0.4 per cent decline in loans and advances as of June 30, 2021 to ₹1,63,914 crore against ₹1,64,510 crore as on June 30, 2020. On a sequential basis, loans fell 1.8 per cent from the March 31, 2021 quarter. In contrast, the bank’s deposits soared 39.1 per cent to ₹1,63,295 crore by June-end this year from ₹1,17,360 crore a year ago.

 

Federal Bank reported an 8 per cent growth in gross advances to ₹1,32,770 crore against ₹1,23,437 crore a year ago. Its total deposits increased by 9 per cent to ₹1,69,393 crore as of June 30, 2021 from ₹1,54,938 crore a year ago. However, deposits fell 1.9 per cent on a sequential basis.

IndusInd Bank reported a 7 per cent growth in its net advances to ₹2,11,159 crore during the period against ₹1,98,069 crore a year ago. On a sequential basis, its net advances fell 1 per cent compared to ₹2,12,595 crore as of March 31, 2021.

The bank’s deposits surged 26 per cent to ₹2,67,629 crore as of June 30, 2021 (₹2,11,800 crore). “Retail deposits and deposits from small businesses amounted to ₹1,05,737 crore as of June 30, 2021 compared to ₹95,811 crore as of March 31, 2021,” it said.

Published on July 05, 2021

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