HDFC Bank deposits increase 21% in FY23

By Consultants Review Team Tuesday, 04 April 2023

hdfcHDFC Bank has considerably raised its percentage of deposits in FY23. Deposits at the largest private bank in the nation climbed by 20.8% from the end of March 2022 to Rs 18.8 lakh crore.

With this increase, HDFC Bank has a share of nearly 10% of the country’s deposits. The bank’s advances grew 16.9% in FY23 to Rs 16 lakh crore as compared to Rs 13.7 lakh crore as of end-March 2022.

“For a bank of HDFC Bank’s size to finish the year with a 21% deposit growth is no mean achievement when system deposit growth as of March 10 was hovering around 10.3%,” said Suresh Ganapathy of Macquarie Capital. HDFC Bank has added nearly Rs 1.5 lakh crore of deposits between January and March 2023.

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