India's biggest private lender HDFC Bank on Friday said that the sequential rise in deposits outpaced loan growth in the fiscal second quarter.

MUMBAI: HDFC Bank's advances grew 8% year-on-year, resulting in a loan book of nearly Rs 19.2 lakh crore at the end of the July-Sept quarter. During the same period, deposits rose 15% to about Rs 19.8 lakh crore.

Update: HDFC Bank’s deposits grew 15.1% to ₹25.00 lakh crore in Q2FY25 from ₹21.73 lakh crore crore in Q2FY24. Deposit growth was around 5.1% from ₹23.79 lakh crore as of June 30, 2024.

Indian lender HDFC Bank's gross advances and deposits both rose in the second quarter, it said on Friday. The country's biggest private bank said gross advances, or loans sanctioned and disbursed, rose 1.

HDFC Bank on Friday said the bank has registered a 7% rise in loans. Private sector HDFC Bank on Friday said the bank has registered a 7% rise in loans to ₹25.19 lakh crore in the second quarter of this fiscal. The credit book was ₹23.54 lakh crore as of September 30 last year.

HDFC Bank's total advances under management, which include loans securitised or sold, stood at ₹26.34 lakh crore by the end of September 2024.

HDFC Bank reported a 15% year-on-year rise in deposits to Rs 25 lakh crore for the quarter ending September 2024. Advances under management increased by 8%, reaching Rs 26.33 lakh crore. Gross advances grew by 7% to Rs 25.

A recent report by Macquarie Research indicated that HDFC Bank's LDR, from a peak of approximately 110 per cent, has declined to 103.5 per cent | (Photo: Shutterstock) The country’s largest private sector lender had earlier indicated that it would grow its advances at a slower pace than deposits,

Top private banks have started posting higher deposit growth than credit in the quarter ending September 2024, according to provisional Q2FY25 business updates reported by lenders to exchanges. The trend has reversed after a period of at least two years.