HDFC assigns ₹8,892cr in loans to HDFC Bank

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.