Private sector lender HDFC Bank announced on Wednesday that it had recorded a 19.5% increase in credit growth to INR 15 lakh crore (about $20.6 billion) for the third quarter ending December 2022.
The bank’s domestic retail loans grew by 21.5% over December 31, 2021, while commercial and rural banking loans grew by 30% over the same period. Corporate and other wholesale loans increased by 20% over December 31, 2021, but were lower by around 1% compared to September 30, 2022.
In terms of deposits, HDFC Bank saw a growth of around 19.9% to INR 17.3 lakh crore (about $23.7 billion) as of December 31, 2022, compared to INR 14.4 lakh crore (about $19.7 billion) in the year-ago period.
Current Account Saving Account (CASA) deposits grew by 12% to INR 7.6 lakh crore (about $10.4 billion) as of December 31, 2022.
The bank also purchased INR 8,892 crore (about $12.2 million) worth of loans through the direct assignment route under its home loan arrangement with Housing Development Finance Corporation during the quarter.
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