Housing Development Finance Corporation (HDFC) on Tuesday said that it has assigned loans of up to `8,892 crore in the quarter ended December 31, higher by 19% compared to previous year. In Q3FY22, HDFC had assigned loans of `7,468 crore to the bank. HDFC assigned loans of up to `35,937 crore in the 12 months ended December 31. The company also earned a gross income of `482 crore from dividend in Q3FY23.
As per an earlier agreement, HDFC Bank has an option to buy up to 70% of the loans sourced by the lender for HDFC. The loans are serviced by HDFC, for which it is paid a consideration on mutually agreeable terms.
Separately, Bank of Maharashtra and Federal Bank have reported a higher-than-industry deposit growth in the three months ended December 31. However, the growth has come from term deposits as their current account, savings account (CASA) ratio contracted during the quarter.
Bank of Maharashtra saw a 11.7% year-on-year growth its total deposits to `2.1 trillion in Q3FY23 while its CASA ratio contracted by 255 basis points (bps) to 52.50% as of December 31. CASA deposits grew by 6.5% to `1.1 trillion.
Federal Bank’s deposits grew by 14.8% y-o-y to `2 trillion in Q3FY23 while its CASA ratio declined by 243 bps to 34.25% during the period. Customer deposits grew by 13% y-o-y to `1.9 trillion in Q3FY23.
On asset side, Federal Bank saw 19% growth in advances to `1.7 trillion with retail and wholesale book each growing by 19%. The retail loans consisted of 54% of the total loan portfolio. Bank of Maharashtra saw a credit growth of 22% to `1.6 trillion in Q3FY23. The bank’s credit-deposit ratio improved to 75.39% in Q3FY23 from 69.13% a year ago.
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The non-food credit grew by 17.9% while total deposits grew by 9.8% in the fortnight ended December 2, as per the latest Reserve Bank of India (RBI) data. With the deposit growth running well below loan growth and deposit rates rising rapidly, margins will peak out by Q3FY23 and will start heading down from Q4FY23 onwards, Macquire Research had said in a report. Banks have sharply increased their deposit rates in December led by major banks such as State Bank of India and HDFC Bank.
