Shares of HDFC Bank Ltd. will be in focus on Monday, July 6, after the private sector lender reported a steady June quarter business update, with loan and deposit growth surpassing Street estimates.
The bank's gross advances rose 15.4% year-on-year to ₹30.61 lakh crore, marking the strongest loan growth in five quarters and comfortably beating analysts' estimate of around 12.1%.
Deposits grew 14.7% year-on-year to ₹31.70 lakh crore, ahead of the consensus expectation of 12%.
CASA deposits increased 9.4% year-on-year to ₹10.25 lakh crore, although the growth was lower than the Street's expectation of 11.1%.
Advances under management stood at ₹31.27 lakh crore, up 12.4% from a year ago.
Overall, the business update points to a stable and well-balanced quarter, with robust credit growth and deposit mobilisation offsetting the softer performance in CASA deposits.
HDFC Bank shares ended Friday's session 0.70% higher at ₹801.50. The stock has declined 19% so far this year.