Wed Sep 25 09:18:29 UTC 2024: ## HDFC Bank Reports Strong Growth in Advances and Deposits in Q1FY25
**Mumbai, India – September 25, 2024** – HDFC Bank, India’s largest private sector lender, has reported a significant increase in both advances and deposits during the first quarter of the fiscal year 2025 (Q1FY25).
Total advances, which represent loans extended by the bank, surged by 52.5 percent year-on-year (Y-o-Y) to reach Rs 24.63 trillion. This substantial growth indicates a strong demand for credit from businesses and individuals.
Simultaneously, deposits witnessed a 24.4 percent Y-o-Y rise, reaching Rs 23.71 trillion. This increase in deposits suggests strong customer confidence in the bank and a favorable environment for attracting savings.
These robust figures underscore HDFC Bank’s continued dominance in the Indian banking sector and highlight its ability to capitalize on the economic recovery.
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