HDFC Bank Deposits Grew 24% In FY20 To Rs 11.46 Lakh Crore

HDFC Bank said its deposits aggregated to Rs 11.46 lakh crore as on 31 March 2020, which is a 24 percent growth when compared to Rs 9.23 lakh crore on 31 March 2019. As on 31 December 2019, the private lender's deposits stood at Rs 10.67 lakh crore.

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The bank also said that its advances aggregated to Rs 9.93 lakh crore as of 31 March 2020, a growth of about 21 percent as compared to Rs 8.19 lakh crore a year ago. As on 31 December, its advances were at Rs 9.36 lakh crore.

The CASA (current account saving account) ratio stood at 42 percent as of 31 March when compared to 42.4 percent a year ago and 39.5 percent on 31 December 2019, the bank said in a statement.

During the quarter ended 31 March the bank purchased loans aggregating Rs 5,479 crore through direct assignment route under home loan arrangement with Housing Development Finance Corporation (HDFC) Ltd.

Stocks of private banks and financial institutions have been under pressure with investors expecting a deterioration in their asset qualities from a host of factors, including halt in economic activity from the COVID-19 pandemic.

On Friday, HDFC Bank closed 1.95 percent lower at Rs 813.50 per share on BSE.