HDFC Bank clocks 3% rise in advances in Q3

New Delhi: The country's biggest private sector lender, HDFC Bank, on Saturday said it has registered a marginal 3 per cent increase in loan growth at Rs 25.42 lakh crore in the December quarter.

Total advances were Rs 24.69 lakh crore at the end of December 31, 2023, HDFC Bank said in a regulatory filing.

The lender reported a 15.8 per cent rise in total deposits to Rs 25.63 lakh crore as against Rs 22.14 lakh crore at the end of the third quarter of the previous financial year.

The bank's average advances under management (advances grossing up for inter-bank participation certificates, bills rediscounted and securitisation/assignment) were Rs 26.27 lakh crore for the quarter under review, registering a growth of about 7.6 per cent over Rs 24.41 lakh crore in the year-ago period.

Meanwhile, state-owned Indian Bank reported a credit growth of 9.6 per cent to Rs 5.59 lakh crore in the October-December period as against Rs 5.10 lakh crore a year earlier.

At the same time, total deposits registered a growth of 7.3 per cent to Rs 7.02 lakh crore, Indian Bank said in a separate regulatory filing.