HDFC bank deposits soar 24 per cent in Q4 to reach Rs 11.46 lakh crore
New Delhi | Jagran Business Desk: Private lender HDFC Bank has said that the bank deposits aggregated to Rs 11.46 lakh crore, clocking a growth of 24 per cent as compared to Rs 9.23 lakh crore as of March 31, 2019 and Rs 10.67 lakh crore on December 31, 2019.
The bank's advances aggregated to Rs 9.93 lakh crore as of March 31, growing about 21 per cent as compared to Rs 8.19 lakh crore in the year ago period and Rs 9.36 lakh crore on December 31. 2019.
In a statement, the Bank said, "The current account saving account (CASA) ratio stood at 42 per cent as of March 31 as compared to 42. 4 per cent in the year ago period and 39.5 per cent on December last year."
During the quarter ended March 31, the private lender purchased loans aggregating Rs 5,479 crore through direct assignment route under home loan arrangement with Housing Development Finance Corporation (HDFC) Ltd.
Private banking and financial stocks have been under pressure with investors expecting a deterioration in asset qualities due to a lot of factors including disruption in economic activity due to the coronavirus pandemic.
On Thursday, the shares of HDFC Bank soared over 3.98 per cent at Rs 922.10 on the BSE.
According to Moody's Investors Service, the rapid and widening spread of Coronavirus deteriorating global economic outlook, fall in oil prices and asset price declines are creating a severe and extensive credit hock across many regions, sectors and markets.
The Indian financial system has been one of the sectors affected by the shock, especially given the already weakening operating environment, it said as quoted by ANI.
(with ANI inputs)
Posted By: James Kuanal