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Deposits grow despite moderating CASA ratio

October 06, 2023

Deposits grow despite moderating CASA ratio
Indian banks’ deposits grew in the second quarter despite falling CASA ratios, provisional data released so far by some banks showed. 

This trend was seen across HDFC Bank Ltd., Federal Bank Ltd., IndusInd Bank Ltd., Yes Bank, CSB Bank Ltd., South Indian Bank Ltd., and AU Small Finance Bank Ltd., according to the overview of their released Q2 provisional figures.
 
Of these, AU Small Finance Bank and HDFC Bank witnessed the highest deposit growth year-on-year at 30% and 29.9%, respectively. For HDFC Bank, the growth was also after the mega-merger with Housing Development Finance Corp. 
 
The Federal Bank’s deposits rose 23% year-on-year to ₹2,32,871 crore, supported by a year-on-year uptick in certificates of deposit and interbank deposits at 137% and 115%, respectively.
 
Deposit growth continues despite the CASA ratio falling. 
 
This was followed by HDFC Bank’s CASA ratio at 37.6%, declining 780 basis points; and Federal Bank and CSB Bank’s fell 520 bps and 510 bps, respectively.
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