HDFC Bank Registers Marginal Loan Growth Amidst Rising Deposits

HDFC Bank reported a minor 3% growth in loans at Rs 25.42 lakh crore for the December quarter. Total deposits grew 15.8% to Rs 25.63 lakh crore. Indian Bank showed 9.6% credit growth with 7.3% rise in deposits for the same period.

HDFC Bank, the country's largest private sector lender, has recorded a modest 3% increase in loan growth, reaching Rs 25.42 lakh crore in the December quarter, according to a recent regulatory filing.

As of December 31, 2023, the bank's total advances stood at Rs 24.69 lakh crore. HDFC Bank also noted a significant 15.8% rise in total deposits, which amounted to Rs 25.63 lakh crore, compared to Rs 22.14 lakh crore at the end of the same quarter last year.

Simultaneously, state-owned Indian Bank posted a 9.6% increase in credit growth to Rs 5.59 lakh crore over the October-December period, alongside a 7.3% increment in total deposits, reaching Rs 7.02 lakh crore, as per their regulatory filing.

(With inputs from agencies.)