HDFC Bank’s deposits surge 15% in Q2FY25

Ace News

4th Oct 2024

HDFC Bank’s deposits were Rs 25,000 billion as of September 30, 2024 (Q2FY25), a growth of around 15.1% over Rs 21,729 billion as of September 30, 2023, and a growth of around 5.1% over Rs 23,791 billion as of June 30, 2024. 

The Bank’s CASA deposits were Rs 8,835 billion as of September 30, 2024, a growth of around 8.0% over Rs 8,177 billion as of September 30, 2023, and a growth of around 2.3% over Rs 8,636 billion as of June 30, 2024.

The Bank’s time deposits were Rs 16,165 billion as of September 30, 2024, a growth of around 19.3% over Rs 13,552 billion as of September 30, 2023, and a growth of around 6.7% over Rs 15,155 billion as of June 30, 2024, reflecting customer preference for time deposits in this stage of the rate cycle.

The Bank’s gross advances aggregated to around Rs 25,190 billion as of September 30, 2024, a growth of around 7.0% over Rs 23,546 billion as of September 30, 2023. 

HDFC Bank is one of India’s premier banks providing a widerange of financial products and services using multiple distribution channels including a pan-India network of branches, ATMs, phone banking, net banking and mobile banking.