Shares of HDFC Bank were trading in the red and almost 2% lower on 5 January after the company announced its quarterly updates for October-December.

In its regulatory filing, the bank reported a 62.4% year-on-year increase in its gross advances to Rs 24.69 lakh crore for the quarter under review. In contrast, on a sequential basis, it grew by 4.6% quarter-on-quarter against Rs 23.55 lakh crore reported in the previous quarter.

The bank added, “Grossing up for transfers through inter-bank participation certificates and bills rediscounted, the bank’s advances grew by around 60.7% over 31 December 2022 and around 3.8% over 30 September 2023.”

However, the bank’s domestic retail loans skyrocketed by 111% YoY and 3% QoQ, while commercial and rural banking loans grew by 31.5% YoY and 6.5% QoQ. The corporate and wholesale loans during the quarter grew by 11% YoY and 2% QoQ.

At the end of this quarter, the bank’s deposit stood at Rs 22.14 lakh crore, marking a 27.7%YoY growth from Rs 17.33 lakh crore reported in the same quarter last year. The retail deposits during the quarter grew by 28.4% YoY to Rs 5.3 lakh crore, while the wholesale deposit grew by 24.4% YoY.

The CASA (current account savings account) deposits grew by 9.5% YoY to Rs 8.36 lakh crore during the quarter against Rs 7.63 lakh crore reported in the same quarter last year. The bank’s CASA ratio stood at 37.7% at the end of the quarter against 44% reported in Q3FY23.

The exchange filing added, “The figures for the period ended 31 December 2023, include the operations of erstwhile HDFC, which amalgamated with and into HDFC Bank on 1 July 2023, and hence are not comparable with those of the corresponding period of the previous year.”

In the past six months, the shares of HDFC Bank have traded flat, giving a marginal return of 0.32% against the benchmark Nifty50 index, which has gained 11.78% over the same period.

At 3:30 pm, the shares of HDFC Bank closed 0.70% higher at Rs 1,679 on NSE.