HDFC Bank Q2 Update: Advances Rise 7%, Deposits Up 15%; Credit To Deposit Ratio Falls Sharply

HDFC Bank Ltd.'s gross advances for the quarter ended September witnessed a rise of 1.3% on quarter to Rs 25.2 lakh crore, according to provisional numbers disclosed to exchanges. On a year-on-year basis, India's largest private sector bank's gross advances grew 7%. These provisional earnings numbers reflect the full effect of the merger with Housing Development Finance Corp., which took force in July 2023. Deposits which have lagging credit growth grew 3.1% on quarter and 15.4% on year to Rs 23.5 lakh crore.

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