Money & Banking

Private banks report rise in deposits, muted growth in advances in Q1FY22

Our Bureau Mumbai | Updated on July 05, 2021

However, HDFC Bank reported a 14.4 per cent growth in its advances

Private sector banks reported a steady increase in deposits in the provisional data for the quarter-ended June 30, 2021, though advances remained subdued amidst localised lockdowns that impacted business activity.

However, bucking the trend, HDFC Bank reported a 14.4 per cent growth in its advances to about ₹11,47,500 crore as of June 30, 2021 compared to ₹10,03,300 crore a year ago.

Domestic retail loans as of June 30, 2021 grew by around 10.5 per cent over a year-ago period and remained at a level similar to that as of March 31, 2021; domestic wholesale loans as of June 30, 2021 grew by around 17 per cent y-o-y and around 2 per cent over March 31, 2021, it said in a regulatory filing on Monday.

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.

Also read: Amid worries over demand revival, Axis Bank sees 10 times growth in online shopping fest

Yes Bank and Federal Bank

Meanwhile, Yes Bank reported a 0.4 per cent decline in its loans and advances for the first quarter of the fiscal to ₹1,63,914 crore as against ₹1,64,510 crore as on June 30, 2020. On a sequential basis, loans fell 1.8 per cent.

In contrast, its deposits soared by 39.1 per cent to ₹1,63,295 crore for the quarter-ended June 30, 2021 from ₹1,17,360 crore a year ago.

Meanwhile, Federal Bank reported an 8 per cent growth in gross advances to ₹1,32,770 crore for the first quarter of the fiscal as against ₹1,23,437 crore a year ago.

Its total deposits increased by 9 per cent to ₹1,69,393 crore for the quarter-ended June 30, 2021 from ₹1,54,938 crore a year ago. However, deposits fell by 1.9 per cent on a sequential basis.

Published on July 05, 2021

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