HDFC Bank, the largest private sector lender, continues to be a guiding force for its competitors.
Deepak Parekh led group lender hdfc bank reported a robust operating performance during the October-December quarter.
It clocked a 25% on year increase in deposits even as the entire banking sector saw a growth of around 8% during the quarter under review.
Total sector deposit growth during the quarter stood at Rs 1,08,100 crore and HDFC Bank alone collected Rs 45,900 crore in deposits, a whopping incremental growth of 45.09% to the industry.
Deposits stood at Rs 10,67,000 crore as of December 31, 2019, as compared to Rs 8,52,000 crore as of December 31, 2018.
In September 2019, deposits stood at Rs 10,21,000 crore.
As far advances concerned, HDFC bank reported 20% increase to Rs 9,34,000 crore as of December 31, 2019 as compared to Rs 7,81,000 crore as of December 31, 2018.
Lender’s advances stood at Rs 8,97,000 crore as of September 30, 2019.
The bank’s current and saving account (CASA) ratio stood at around 39.5% as of December 31, 2019, as compared to 40.7% as of December 31, 2018, and 39.3% as of September 30, 2019.
During the quarter ended December 31, 2019, the bank purchased loans aggregating Rs 4,258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation.
It now aims to reach every village and telecall services have also seen a widespread increase.
Through, the Toll-Free Number help HDFC Bank offer its entire range of rural centric financial products and services to the rural interiors.
Products on offer are Pre and Post-Harvest Crop Loans under the Kisan Gold Card which offers a wide range of crop and geography-specific lending facilities that meet the harvest cycles and the local needs of farmers spread across diverse agricultural climatic zones.
The credit facility is also given for allied agricultural activities such as Dairy, Poultry, Pisciculture, and Sericulture.
Along with this, savings account, fixed deposit and other loan requirements of farmers and agriculturists will be provided.
Overall we hence expect a robust performance in the coming q3 FY20 performance with strong loan book growth and disbursements
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