The nation’s largest non-public sector lender HDFC Bank mentioned in its quarterly replace that its advances grew 21 per cent in the quarter ending March (Q4FY20) whereas its deposit base grew 24 per cent in the identical interval.
In absolute numbers, the financial institution’s advances aggregated to Rs 9.93 trillion in Q4FY20 in comparison with Rs 8.94 trillion in Q4FY19. This comes at a time when the general financial institution credit score progress has remained weak, given the difficult financial situations.
Similarly, the deposit base of the non-public sector lender stood at Rs 11.46 trillion in Q4FY20 in comparison with Rs 9.23 trillion in the identical interval final 12 months. In the latest previous, the non-public banking sector, particularly the small banks, has seen erosion in deposit base after the YES Bank disaster.
The financial institution’s present account financial savings account (CASA) ratio stood at 42 per cent in the quarter in comparison with 42.four per cent as of March 31, 2019, and 39.5 per cent as of December 31, 2019.
The lender mentioned it bought loans of Rs 5,479 crore in the quarter by means of the direct project route below the house mortgage association with Housing Development Finance Corporation (HDFC).
On Thursday, Moody’s mentioned that disruptions to financial exercise from the coronavirus pandemic will exacerbate a slowdown in India’s financial system.