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HDFC Bank Sees 16% Loan Growth In Dec Qtr; Shares Pare Gains

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Shares of HDFC Bank rose as much as 1.6% at the start of the trade session on Wednesday, before paring gains. The stock touched intraday high of Rs 1,448.80 at opening.

In a stock exchange filing dated 5 January 2020, the private bank said that its advances aggregated to approximately Rs 10,820 as of 31 December 2020, a growth of around 16% as compared to Rs 9,360 billion as of 31 December 2019 and a growth of around 4% as compared to Rs 10,383 billion as of 30 September 2020.

HDFC Bank Sees 16% Loan Growth In Dec Qtr; Shares Pare Gains
 

HDFC Bank further said that its deposits aggregated to approximately Rs 12,710 billion as of 31 December 2020, a growth of around 19% as compared to Rs 10,674 billion as of 31 December 2019 and a growth of around 3% as compared to Rs 12,293 billion as of 30 September 2020.

The bank's CASA ratio stood at around 43% as of 31 December 2020, as compared to 39.5% as of 31 December 2019 and 41.6% as of 30 September 2020.

During the quarter ended 31 December 2020, the bank purchased loans aggregating Rs 70.76 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited (HDFC).

The stock had hit a 52-week high of Rs 1,464 at the end of December and grown by 28% during the quarter.

Read more about: hdfc bank
Story first published: Wednesday, January 6, 2021, 10:35 [IST]
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