HDFC Bank’s advances rise 21% in Q4FY20

HDFC Bank’s advances rise 21% in Q4FY20

The country’s largest private sector lender HDFC Bank said in its quarterly update that its advances aggregated to Rs 9.93 lakh crore in the quarter ending March (Q4FY20), which is an around 21 percent as compared to Rs 8.19 lakh crore as of in Q4FY19.

The bank’s deposits base grew 24 per cent, which is Rs 11.46 lakh crore as compared to Rs 9.23 lakh crore in the same period last year and Rs 10.67 lakh crore in the quarter ending December 2019 (Q3FY19).

The bank’s CASA (current account saving account) ratio stood at 42 per cent in the quarter ending Q4FY20 as compared to 42.4 per cent in the same period last year and 39.5 per cent in the quarter ending Q3FY19.

During the quarter ended March 2020, it purchased loans aggregating Rs 5,479 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Ltd., the bank said.

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    Neelam Jaiswal is a former editor of Ub News and has a lot of experience in business news. She is managing business news on My Office Hub. Reach her on neelam@myoffice-hub.com

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