HDFC Bank says merged loan book with HDFC at $273.8 bln as of June end (updated)

Housing Development Finance

05/07/2023 04:28

(Adds details on combined deposits and standalone numbers
throughout)
       BENGALURU, July 5 (Reuters) - India's HDFC Bank
 HDBK.NS  on Wednesday said its merged loan book with Housing
Development Finance Corporation  HDFC.NS  stood at about 22.45
trillion rupees ($273.77 billion) as at the end of the June
quarter.
    HDFC Bank merged with HDFC on July 1 in a $40 billion
merger, the largest in India's corporate history, entering the
coveted list of the world's top 10 banks by market
capitalisation.
    HDFC Bank said its loan book rose 13.1% in the June quarter
from a year ago on a proforma basis, though some numbers may not
be directly comparable with those of the previous year.
    The merged entity's deposits aggregated to about 20.64
trillion rupees as of June end, up 16.2% from a year ago.
    The combined entity's liquidity coverage ratio, a measure of
how much cash-like assets the bank has, was around 120%
on a proforma basis for the quarter ended June 30, HDFC Bank
said in an exchange filing. 
    The bank's standalone gross advances rose about 15.8% to
16.16 trillion rupees as of June end, while deposits rose 19.2%
to 19.13 trillion rupees. 
    
($1 = 82.0020 Indian rupees)

 (Reporting by Sethuraman NR in Bengaluru and Siddhi Nayak in
Mumbai; Editing by Rashmi Aich)
 ((Sethuraman.NR@thomsonreuters.com; (+91 9945291420); Reuters
Messaging: nallur.sethuraman.thomsonreuters.com@reuters.net))