HDFC Bank raises Rs 1.5 trillion deposits in July-September quarter

HDFC Bank, India's largest private sector lender by assets, mobilised deposits exceeding Rs 1.5 trillion during the July-September quarter, reflecting robust growth in its retail and corporate client base. The deposit mobilisation demonstrates the bank's ability to attract and retain customer funds despite intense competition in the banking sector.

The quarter saw steady inflows across both domestic and international deposit products as the bank expanded its funding base to support lending operations. The deposit growth aligns with the bank's strategy to maintain a healthy deposit-to-credit ratio while managing its cost of funds.

India's second-largest private sector bank ICICI Bank pursued a different funding strategy during the period, mobilising $17.88 billion in foreign currency non-resident (FCNR) deposits and raising $3.55 billion through dollar-denominated bonds. The divergent approaches reflect different market positioning and funding requirements among the nation's leading lenders.

Both banks are navigating a dynamic interest rate environment following the Reserve Bank of India's monetary policy decisions. Deposit mobilisation remains crucial for banks as they manage credit growth and maintain regulatory capital requirements amid evolving economic conditions.