HDFC deposits top loans for 1st time after merger

Quick Summary:

HDFC Bank's deposit base exceeded its advances for the first time following the merger with its parent housing finance company in July 2023.Deposits grew by 15.8% year-on-year, primarily through term deposits, while advances recorded a slower 3% increase, partially due to a decline in corporate loans.

Gross advances were Rs 25.4 lakh crore, reflecting a 3% increase from Rs 24.7 lakh crore on Dec 31, 2023.

While HDFC Bank's deposit growth is outpacing the system, its advances are growing slower.

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Article Details

Author / Journalist: TNN

Category: EconomyBusiness

Markets: IndiaAfghanistanPakistanZimbabwe

Topics: HDFC Bank Corporate loans decline Deposit growth HDFC merger Business news Loan advances

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-06 @ 02:17:16 (2 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 846 words

Reading Time: 5 minutes read

Sentences: 34 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 24913782

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