Shares of HDFC Bank plunged over 3 per cent in morning trade on 5 July after the lender released its first Q1 update post its merger with HDFC Limited. HDFC Limited shares also fell over 3 per cent to hit an intra-day low of Rs 2,783.25, so far.
At 11:30 am, HDFC Bank shares were trading 2.72 per cent down at Rs 1,681.10 after hitting an intra-day low of Rs 1,672 per share, so far. HDFC shares were trading 2.77 per cent down at Rs 2,804.60.
The stock touched the 52-week high of Rs 1,757.50 on 3 July, its first day of trading after the announcement of the merger with HDFC Ltd.
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HDFC Bank said its advances aggregated to approximately Rs 16,15,500 crore in the June quarter, up 15.8 per cent from Rs 13,95,100 in the corresponding quarter last year. This shows a 0.9 per cent sequential growth in advances against Rs 16,00,000 crore in the March quarter.
According to the lender’s internal business classification, domestic retail loans increased about 20 per cent year-on-year and 4 per cent quarter-on-quarter. Commercial & loans rose by around 29 per cent over the year-ago period and nearly 2 per cent over the previous quarter. Corporate & other wholesale loans increased by 11 per cent year-on-year and were down by around 1 per cent compared to January to March quarter of fiscal 2023.
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HDFC Bank’s deposits aggregated to about Rs 19,13,000 crore in the April-June quarter of FY24, reporting a growth of 19.2 per cent from Rs 16,04,800 crore in the corresponding quarter last year. Compared to the March quarter of the previous fiscal, the deposits grew 1.6 per cent from Rs 18,83,400.
CASA deposits grew 10.7 per cent to approximately Rs 8,13,000 crore during the quarter under review from Rs 7,34,000 crore, year-on-year.
Housing Development Finance Corporation (HDFC) Ltd got amalgamated with and into HDFC Bank on 1 July 2023.
As of 30 June 2023, the merged entity’s gross advances aggregated to approximately Rs 22,45,000 crore, up by 13.1 per cent from Rs 19,85,900 crore in the year-ago quarter and 0.7 per cent up from Rs 22,30,200 crore on March 31, 2023.
The merger entity’s deposits stood at Rs 20,63,500 crore in the April-June quarter FY24, up by 16.2 per cent from Rs 17,76,000 crore, year-on-year, and up 1.2 per cent quarter-on-quarter.
Its average LCR for the reported quarter was at 120 per cent on a performa basis.
