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Why HDFC Bank shares are rising today after Q4 gross advances, deposits grow

Why HDFC Bank shares are rising today after Q4 gross advances, deposits grow


HDFC Bank share price today: The share price of HDFC Bank gained almost 3% today (April 4) after the bank reported 55.4% year-on-year (YoY) growth in gross advances to 25.08 lakh crore as of March 31, 2024, from 16.14 lakh crore as of March 31, 2023. 

HDFC Bank share price: The headquarters of India’s HDFC bank is pictured in Mumbai. (Reuters)

Advances of the largest private sector bank in India grew 1.6% from 24.69 lakh crore in December 2023. The bank’s advances grew by around 53.8% over March 31, 2023 and around 1.9% over December 31, 2023, HDFC Bank said in a filing.

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HDFC Bank share price today

At 9:20 am, HDFC Bank shares were trading 2.82% higher at 1,524.35 apiece on the BSE. The lender commanded a total market capitalization of close to 11.75 lakh crore. The stock settled at 1482.55 on April 3, rising marginally for the session.

HDFC Bank Q4 update: Gross advances up 1.6%, deposits rise 26%

The lender’s domestic retail loans grew by almost 108.9% year-on-year (YoY) and around 3.7% quarter-on-quarter (QoQ). Meanwhile, commercial and rural banking loans grew by around 24.6% YoY and 4.2% QoQ, it said. 

The bank also noted in its filing that CASA ratio stood at around 38.2% as of March 31, 2024, as compared to 44.4% as of March 31, 2023 and 37.7% as of December 31, 2023. As of March 31, 2024, HDFC Bank’s deposits aggregated to 23.80 lakh crore- up 26.4% over 18.83 lakh crore reported at the end of corresponding quarter. On quarterly basis, the growth was around 7.5%, the lender noted.

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