Mumbai: HDFC Bank shares surged by nearly 3 percent following robust financial results. The bank recorded a significant 55.4 percent year-on-year growth in gross advances, amounting to Rs 25.08 lakh crore as of March 31, 2024, up from Rs 16.14 lakh crore in the previous year. Sequentially, advances grew by 1.6 percent from December 2023.

The merger with HDFC Limited in July 2023 bolstered the bank's performance, with advances growing by approximately 53.8 percent year-on-year and 1.9 percent quarter-on-quarters, grossing up for transfers through inter-bank participation certificates and bills rediscounted.

Notably, domestic retail loans saw remarkable growth, surging by around 108.9 percent year-on-year and 3.7 percent quarter-on-quarters. Commercial and rural banking loans also witnessed substantial increases of around 24.6 percent year-on-year and 4.2 percent quarter-on-quarters.

Deposits aggregated to approximately Rs 23.80 lakh crore in Q4FY24, marking a 26.4% year-on-year and 7.5% quarter-on-quarter increase. Retail deposits grew by 27.8% year-on-year and 6.9% quarter-on-quarter, while wholesale deposits saw a rise of 19.4% year-on-year and 10.9% sequentially.

The bank's Current Account Savings Account (CASA) deposits rose by 8.7% to Rs 9.09 lakh crore, with a sequential growth of 8.8%. The CASA ratio stood at around 38.2% as of March 31, 2024, compared to 44.4% in the previous year and 37.7% in December 2023.

HDFC Bank shares were trading 2.82% higher at Rs 1,524.35 a piece on the BSE, reflecting investor confidence in the bank's strong financial performance.

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