HDFC Bank on Friday announced that the bank’s loan volume has increased by 7%.
Private sector HDFC Bank on Friday said its loan volume rose 7% to Rs 25.19 lakh crore in the second quarter of the current fiscal.
The credit book as on September 30 last year was Rs 2,354 crore.
In a regulatory filing, HDFC Bank said that during the quarter ended September 30, 2024, the bank underwrote loans worth Rs 19,200 crore (Rs 24,600 crore year-to-date) as a strategic initiative. said that it had been converted/transferred. The bank’s average deposits stood at Rs 23.53 million in the September 2024 quarter, an increase of around 15.4% compared to Rs 20.38 million in the September 2023 quarter, it said.
The liquidity coverage ratio (average) for the same quarter was approximately 127%.
Sasidar Jagdishan, MD & CEO, HDFC Bank, said in the annual report 2023-24. Depending on maturity, this includes considering potential prepayment opportunities and pursuing profitable financing sources. ”
During this adjustment period, banks’ advances growth will be slightly slower than deposit growth, he said. “In line with the bank’s philosophy, we will avoid pursuing growth that does not meet risk-adjusted profitability criteria,” he said.
In a separate filing, state-owned lender UCO Bank reported loan growth of Rs 1.98 billion, compared to Rs 1.67 billion in the year-ago period, an increase of 18.56 per cent.
At the same time, Kolkata-based UCO Bank recorded a 10.84% growth in deposits to Rs 2,990 crore.
Published – October 4, 2024 9:15 PM IST
