India's biggest private lender HDFC Bank on Friday said that the sequential rise in deposits outpaced loan growth in the fiscal second quarter.

HDFC Bank’s deposit growth for the second quarter of the financial year (Q2 FY25) has outpaced its credit growth on a sequential basis.

HDFC Bank on Friday said the bank has registered a 7% rise in loans. Private sector HDFC Bank on Friday said the bank has registered a 7% rise in loans to ₹25.19 lakh crore in the second quarter of this fiscal. The credit book was ₹23.54 lakh crore as of September 30 last year.

Indian lender HDFC Bank's gross advances and deposits both rose in the second quarter, it said on Friday. The country's biggest private bank said gross advances, or loans sanctioned and disbursed, rose 1.

HDFC Bank reported a 15% year-on-year rise in deposits to Rs 25 lakh crore for the quarter ending September 2024. Advances under management increased by 8%, reaching Rs 26.33 lakh crore. Gross advances grew by 7% to Rs 25.

HDFC Bank's total advances under management, which include loans securitised or sold, stood at ₹26.34 lakh crore by the end of September 2024.

A recent report by Macquarie Research indicated that HDFC Bank's LDR, from a peak of approximately 110 per cent, has declined to 103.5 per cent | (Photo: Shutterstock) The country’s largest private sector lender had earlier indicated that it would grow its advances at a slower pace than deposits,

Top private banks have started posting higher deposit growth than credit in the quarter ending September 2024, according to provisional Q2FY25 business updates reported by lenders to exchanges. The trend has reversed after a period of at least two years.