In intraday trading on Friday, shares of HDFC Bank fell more than 4% percent to Rs 1649 per share on the BSE. The counter has dropped 6.1% during the past two trading sessions.
This happened after the firm reported poor growth in its early expectations for the first quarter of fiscal year 2023-24 (Q1FY24).
Gross advances at HDFC Bank were Rs 24.87 trillion on June 30 as compared to Rs 25.08 trillion on March 31; this is a sequential decline of 0.8%. Advances increased 14.9 percent year on year (Y-o-Y), excluding the impact of the merger of erstwhile HDFC Ltd.
As of June 30, the deposit book was at Rs 23.79 trillion, almost unchanged from the previous quarter. Deposits increased 16.5% year on year, excluding the merger’s impact. CASA deposits increased 6.2% year on year while decreasing 5% sequentially. The bank’s liquidity coverage ratio averaged about 123 percent throughout the quarter.
According to the Bank’s regulatory filing, retail loans climbed by over Rs 18,600 crore, commercial and rural banking loans jumped by around Rs 7,200 crore, while corporate and other wholesale loans declined by Rs 26,600 crore compared to March 31, 2024.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.