HDFC Bank data 21.5% mortgage progress in Q1

Private sector HDFC Bank on Monday mentioned the financial institution has registered a 21.5 per cent rise in loans to Rs 13,95,000 crore within the first quarter this fiscal.

The credit score ebook was Rs 11,47,700 crore as of June 30 final yr.

Gross transfers via inter-bank participation certificates and payments rediscounted, the financial institution’s advances grew by round 22.5 per cent over June 30, 2021, HDFC Bank mentioned in a regulatory submitting.

The financial institution’s deposits aggregated to roughly Rs 16,05,000 crore as of June 30, 2022, a progress of round 19.3 per cent over Rs 13,45,800 crore as of June 30, 2021, it added.

During the quarter ended June 30, 2022, the financial institution bought loans aggregating Rs 9,533 crore via the direct project route beneath the house mortgage association with mum or dad Housing Development Finance Corporation (HDFC) Ltd, it mentioned.

On April 4, India’s largest non-public lender HDFC Bank agreed to take over the largest home mortgage lender in a deal valued at about USD 40 billion, making a monetary providers titan.

The proposed entity could have a mixed asset base of round Rs 18 lakh crore. The merger is anticipated to be accomplished by the second or third quarter of FY24, topic to regulatory approvals.

Once the deal is efficient, HDFC Bank will likely be 100 per cent owned by public shareholders, and present shareholders of HDFC will personal 41 per cent of the financial institution.