HDFC Bank Posts Moderate Growth in Q3 Business Update

Mumbai, India - January 4, 2025: HDFC Bank, India's largest private sector lender, announced its third-quarter business update for the period ending October-December 2024. The bank reported a moderate increase in gross advances and healthy growth in deposits, while CASA (current account savings account) deposits experienced a slight decline.
As of Q3 FY2025, HDFC Bank's gross advances stood at ₹2,54,250 crore, marking a 0.9% sequential increase from the previous quarter and a 3% year-on-year rise compared to the same period last year in FY2024.
The bank's total deposits grew by 2.5% sequentially and 15.8% year-over-year, reaching ₹2,56,350 crore. However, HDFC Bank's CASA deposits decreased by 1.2% sequentially and 4.4% year-over-year, standing at ₹87,250 crore.
The dip in CASA deposits has contributed to a reduction in the bank's CASA ratio, which stands at 34.04% as of Q3 FY2025 compared to 35.34% in Q3 FY2024 and 37.74% in Q2 FY2024.
On a more positive note, HDFC Bank witnessed a 4.6% increase in time deposits, which rose to ₹1,69,100 crore, up 22.7% from the same quarter last year in FY2024.
The bank's Assets Under Management (AUM) showed healthy growth, up 2.5% sequentially and 7.6% year-over-year, reaching ₹2,62,760 crore.
HDFC Bank's credit-deposit ratio stood at 99.18%, slightly down from 100.76% in Q2 FY2024 and 111.53% in Q3 FY2024.
The bank has been implementing strategic measures to reduce its loan-to-deposit ratio, including offering retail loans for sale over the past few months.
Separately, HDFC Bank announced that the Reserve Bank of India (RBI) had allowed it to acquire a stake of up to 9.5% in Kotak Mahindra Bank, AU Small Finance Bank, and Capital Small Finance Bank within a year from the approval date.