MUMBAI: Private sector lender HDFC Bank gained as much as 3.97% on Monday after it said that its advances grew 21% year-on-year (YoY) in the April-June quarter to ₹10.05 trillion, compared to ₹8.30 trillion in the year-ago period.
At 11:21 am, HDFC Bank was trading at ₹1,110.10, up 3.34% from its previous close, while the benchmark index, Sensex gained 1.20% to 36,453.48.
The bank's deposits increased 25% to ₹11.90 trillion in Q1 FY21 against ₹9.55 trillion in Q1 FY20. In the January-March quarter, deposits stood at ₹11.48 trillion, according to an exchange filing.
HDFC Bank’s current and savings account ratio, or CASA ratio, stood at around 40% as of 30 June 2020, as compared to 39.7% in the year-ago and 42.2% at the end of March 2020.
HDFC Bank purchased loans worth ₹1,376 crore via the direct assignment route under the home loan agreement with parent Housing Development Finance Corporation (HDFC), during the June quarter.
The lender plans to raise up to ₹50,000 crore by issuance of unsecured perpetual debt Instruments, Tier II Capital Bonds and Long Term Bonds in the domestic market in one or more tranches.
HDFC Bank's net profit rose 17.72% to ₹6,927.69 crore for the quarter ended 31 March against ₹5885.12 crore for the same quarter last year. Total Income rose 15.10% to ₹35,917.63 crore in Q4 March 2020 over ₹31,204.46 crore in Q4 March 2019.
From the beginning of the year, HDFC Bank lost 13% against a loss of 12% in the benchmark index, Sensex. From March lows, HDFC Bank gained 50% while Sensex was up 42%.
Its annual general meeting is scheduled on 18 July.
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