HDFC Bank mobilises over ₹1.5 trillion in deposits in September quarter | Banking

India’s largest private sector lender, HDFC Bank, mobilised over ₹1.5 trillion in deposits in the July-September quarter (Q2FY27), as its period-end deposits grew 4.9 per cent sequentially and nearly 19 per cent year-on-year (YoY) to ₹33.27 trillion, according to the lender’s quarterly business update.

 

The bank also disclosed that it mobilised foreign currency deposits worth $11.5 billion, or ₹1.10 trillion, under the Reserve Bank of India’s (RBI’s) special swap facility for FCNR(B) deposits introduced in June and available until August 31.

 

The bank said its overseas branches extended loan facilities worth $5.7 billion, or ₹54,770 crore, against these deposits.

 

In addition, standby letters of credit issued to other banks in respect of loans against these deposits amounted to $3.1 billion, or ₹29,340 crore.

  

HDFC Bank also said that between June and August, it issued $2.5 billion, or ₹23,960 crore, of dollar-denominated senior unsecured bonds.

 

The RBI introduced the swap facility on June 8 to encourage banks to mobilise longer-tenor FCNR(B) deposits.

 

The facility allowed banks to access dollar-rupee swaps at concessional terms, thereby reducing the cost of mobilising foreign currency deposits.

 

In contrast, ICICI Bank, India’s second-largest private sector bank, mobilised $17.88 billion in FCNR(B) deposits and raised $3.55 billion through dollar-denominated bonds.

 

Meanwhile, HDFC Bank’s period-end gross advances grew 16.3 per cent YoY and 5.2 per cent sequentially to ₹32.19 trillion.

 

Its period-end advances under management (AUM) grew 15.3 per cent YoY to ₹33.08 trillion as of September 30, 2026.

 

HDFC Bank’s average deposits rose 16.8 per cent YoY to ₹31.66 trillion during the September quarter.

 

On a sequential basis, average deposits increased 5.1 per cent from ₹30.12 trillion in the June quarter.

 

Average current account savings account (CASA) deposits grew 10.7 per cent YoY to ₹9.71 trillion, compared with ₹8.77 trillion in the year-ago period.

 

Sequentially, average CASA deposits increased 1.5 per cent from ₹9.57 trillion.

 

Average time deposits grew at a much faster pace, rising 19.7 per cent YoY to ₹21.95 trillion from ₹18.34 trillion.

 

On a quarter-on-quarter basis, average time deposits increased 6.9 per cent from ₹20.55 trillion.

 

At the end of September, CASA deposits stood at ₹10.52 trillion, up 10.8 per cent YoY from ₹9.49 trillion and 2.6 per cent sequentially from ₹10.25 trillion.

 

Time deposits stood at ₹22.76 trillion, an increase of 22.8 per cent YoY and 6.1 per cent quarter-on-quarter.