HDFC Bank advances grows by 20%, deposits up by 25% (YoY) in 2019

HDFC Bank | Photo: Shutterstock
The largest private sector lender HDFC bank’s advances grew by 20 per cent to Rs 9.34 trillion as of December 31, 2019 as compared to Rs 7.81 trillion as of December 31, 2018. Lender’s advances stood at Rs 8.97 trillion as of September 30, 2019.

Deposits for HDFC Bank stood at Rs 10.67 trillion as of December 31, 2019 growing by 25 per cent compared to Rs 8.52 trillion as of December 31, 2018. In September 2019, deposits stood at Rs 10.21 trillion.

The bank’s current and saving account (CASA) ratio stood at around 39.5% as of December 31, 2019, as compared to 40.7% as of December 31, 2018 and 39.3 % as of September 30, 2019.

In a statement to the exchanges, HDFC Bank said, “During the quarter ended December 31, 2019, the bank purchased loans aggregating Rs 4258 crore through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation Limited.”

In a separate announcement, HDFC Bank has also launched a farmer’s outreach programme "Har Gaon Hamara" to help farmer's meet their financial needs at their doorstep.

The toll-free IVR service will connect farmer to the bank, by dialing 1800 120 9655 and sharing PIN code number of his/her area. “The nearest branch is automatically mapped to the farmer and a bank representative will reach-out to the farmer to address his / her needs”, bank said.

Rajinder Babbar, business head – rural banking of HDFC Bank, said: “The aim is to take banking to the doorstep of every Indian farmer and agriculturist. Our Toll-Free Number will help HDFC Bank offer its entire range of rural centric financial products and services to the rural interiors.”

Products on offer are Pre and Post-Harvest Crop Loans under the Kisan Gold Card which offers a wide range of crop and geography-specific lending facility that meet the harvest cycles and the local needs of farmers spread across diverse agricultural climatic zones. Credit facility is also given for allied agricultural activities such as Dairy, Poultry, Pisciculture, and Sericulture. Along with this, savings account, fixed deposit and other loan requirements of farmers and agriculturist will be provided.

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