MUMBAI: HDFC Bank on Saturday reported a widening gap between credit and deposit growth in the March quarter, as strong loan expansion continued to outpace relatively slower deposit mobilisation, keeping the bank’s credit-deposit ratio elevated.
The bank’s gross advances rose around 17 per cent year-on-year (YoY) to nearly Rs 25 lakh crore as of March 31, compared to about Rs 21.4 lakh crore a year ago, according to an exchange filing.
On a sequential basis, loan growth remained moderate, supported largely by retail and SME segments, while corporate lending continued in a calibrated manner. Retail loans once again drove incremental disbursements during the quarter.
On the liabilities side, total deposits stood at approximately Rs 23.5 lakh crore, up from around Rs 20.5 lakh crore a year earlier.