How did HDFC Bank's asset growth compare to its deposit growth?

HDFC Bank's assets under management grew by 10.2% to ₹30.58 lakh crore, which was slower than its deposit growth.

Did other banks also see strong deposit growth?

Yes, AU Small Finance Bank also reported strong deposit growth of 22.8% year-on-year, outpacing its loan portfolio expansion.

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HDFC Bank Deposits Surge Past Asset Growth

Q: What was HDFC Bank's deposit growth rate?

HDFC Bank's deposits grew by 14.4% year-on-year, reaching ₹31.06 lakh crore by the end of March.

5 Apr

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Summary

HDFC Bank's deposits grew 14.4% year-on-year.
Assets under management saw a 10.2% expansion.
CASA deposits recorded a 12.3% year-on-year increase.

HDFC Bank Deposits Surge Past Asset Growth

HDFC Bank has reported robust deposit growth, outpacing its expansion in assets under management. As of the end of March, the bank's deposits grew by 14.4% year-on-year, reaching ₹31.06 lakh crore. This growth outpaced the 10.2% expansion in its assets under management (AUM), which stood at ₹30.58 lakh crore. The bank's focus on current and savings accounts (CASA) also yielded positive results, with CASA deposits increasing by 12.3% year-on-year to ₹10.61 crore. These figures highlight a strong performance by HDFC Bank, bucking a wider industry trend where credit growth has been outpacing deposit accretion.

Data from the Reserve Bank of India indicated that, as of March 15, overall bank credit had grown by 13.8% year-on-year, which was 300 basis points higher than the average deposit accretion. However, not all institutions followed this trend. AU Small Finance Bank also demonstrated strong deposit growth, with its deposits increasing by 22.8% year-on-year to ₹1.53 lakh crore, which also surpassed the growth in its gross loan portfolio.

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