6-K
HDFC BANK LTD (HDB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
For the month of October, 2024
Commission File Number 001-15216
HDFC BANK LIMITED
(Translation of registrant’s name into English)
HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai. 400 013, India
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HDFC BANK LIMITED | ||
|---|---|---|
| (Registrant) | ||
| Date: October 04, 2024 | By: | /s/ Ajay Agarwal |
| Name: | Ajay Agarwal | |
| Title: | Company Secretary and Head – Group Oversight |
EXHIBIT INDEX
The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the General Instructions for Form 6-K.
Description
Disclosure
EX-99
Exhibit 99
October 04, 2024
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir/ Madam,
Sub: Disclosure
We would like to intimate the following:
| 1) | The Bank’s advances under management (advances grossing up for inter-bank participation certificates,<br>bills rediscounted and securitisation / assignment) were ₹ 26,335 billion as of September 30, 2024, a growth of around 8.0% over ₹ 24,374 billion as of September 30, 2023, and a growth of around 2.3% over<br>₹ 25,750 billion as of June 30, 2024. During the quarter, retail loans grew by around<br>₹ 338 billion; commercial & rural banking loans grew by around<br>₹ 380 billion; and corporate & other wholesale loans were lower by<br>₹ 133 billion over June 30, 2024. |
|---|
The Bank’s gross advances aggregated to approximately ₹ 25,190 billion as of September 30, 2024, a growth of around 7.0% over ₹ 23,546 billion as of September 30, 2023.
During the quarter ended September 30, 2024, the Bank securitised / assigned loans of ₹ 192 billion (year to date ₹ 246 billion) as a strategic initiative.
| 2) | The Bank’s deposits were<br>₹ 25,000 billion as of September 30, 2024, a growth of around 15.1% over<br>₹ 21,729 billion as of September 30, 2023, and a growth of around 5.1% over<br>₹ 23,791 billion as of June 30, 2024. |
|---|
The Bank’s CASA deposits were ₹ 8,835 billion as of September 30, 2024, a growth of around 8.0% over ₹ 8,177 billion as of September 30, 2023, and a growth of around 2.3% over ₹ 8,636 billion as of June 30, 2024.
The Bank’s time deposits were ₹ 16,165 billion as of September 30, 2024, a growth of around 19.3% over ₹ 13,552 billion as of September 30, 2023, and a growth of around 6.7% over ₹ 15,155 billion as of June 30, 2024, reflecting customer preference for time deposits in this stage of the rate cycle.
| 3) | The Bank’s advances under management, on an average basis, were ₹ 25,630 billion for the September 2024 quarter, a growth of around 10.2% over ₹ 23,266 billion for<br>the September 2023 quarter, and a growth of around 1.2% over ₹ 25,327 billion for the June 2024 quarter. |
|---|
The Bank’s average deposits were ₹ 23,532 billion for the September 2024 quarter, a growth of around 15.4% over ₹ 20,385 billion for the September 2023 quarter, and around 3.1% over ₹ 22,831 billion for the June 2024 quarter.
The Bank’s average CASA deposits were ₹ 8,082 billion for the September 2024 quarter, a growth of around 7.3% over ₹ 7,535 billion for the September 2023 quarter, and lower by around 0.3% compared to ₹ 8,106 billion for the June 2024 quarter.
| 4) | Liquidity coverage ratio (average) was around 127% for the quarter. | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5) | Key business volumes are as under: | |||||||||||
| --- | --- | |||||||||||
| Key figures (₹billion) | 30-Sep-23 | 30-Jun-24 | 30-Sep-24 | QoQ | YoY | |||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Advances under management* | ||||||||||||
| Period end | 24,374 | 25,750 | 26,335 | 2.3 | % | 8.0 | % | |||||
| Average | 23,266 | 25,327 | 25,630 | 1.2 | % | 10.2 | % | |||||
| Gross advances | 23,546 | 24,869 | 25,190 | 1.3 | % | 7.0 | % | |||||
| Deposits - period end | 21,729 | 23,791 | 25,000 | 5.1 | % | 15.1 | % | |||||
| CASA deposits | 8,177 | 8,636 | 8,835 | 2.3 | % | 8.0 | % | |||||
| Time deposits | 13,552 | 15,155 | 16,165 | 6.7 | % | 19.3 | % | |||||
| Deposits - average | 20,385 | 22,831 | 23,532 | 3.1 | % | 15.4 | % | |||||
| CASA deposits | 7,535 | 8,106 | 8,082 | (0.3 | %) | 7.3 | % | |||||
| Time deposits | 12,850 | 14,725 | 15,450 | 4.9 | % | 20.2 | % | |||||
| * | gross of inter-bank participation certificates, bills rediscounted and securitisation / assignment<br> | |||||||||||
| --- | --- |
The results of the Bank as of September 30, 2024 will be subject to a limited review by the statutory auditors of the Bank.
We request you to bring the above to the notice of all concerned.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Ajay Agarwal
Company Secretary and Head – Group Oversight