HDFC Bank proposes to raise Rs 50,00 crore through bonds in the next one year

The meeting of the board of directors of the private lender is scheduled to be held on April 15, 2023, HDFC Bank said in its regulatory filing.

HDFC bank Proposes to raise funds by issuing perpetual debt instruments, which are a part of additional Tier I capital, Tier II capital bonds and long-term bonds (financing infrastructure and affordable housing).

At the meeting of the Board of Directors of HDFC Bank Limited (“the Bank”) on Saturday, the 15th April, 2023, we wish to inform you that the Bank proposes to raise funds by issue of Perpetual Debt Instruments (part of Additional Tier I Capital) . ), Tier II Capital Bonds and Long-Term Bonds (Financing of Infrastructure and Affordable Housing) up to an aggregate amount of Rs. 50,000 crore over a period of next twelve months through private placement mode,” HDFC Bank said in its regulatory filing.

Recently, HDFC Bank reported almost 17 percent YoY growth in gross advances fourth quarter of FY23. The bank registered double digit growth in lending verticals. Total deposits grew by about 21%.

In the quarter ending March 31, 2023, HDFC Bank earned advances of around Rs 16,005 billion, up 16.9% over the previous year. 13,688 billion in the same quarter last year. while growth stood at 6.2% in advances 15,068 billion in the December 2022 quarter.

Under loan books, HDFC Bank’s domestic retail loans registered 21% YoY and 5% QoQ growth.

Besides, its commercial and rural banking loans grew by 30% YoY and 9.5% QoQ. Corporate and other wholesale loans grew by 12.5% ​​YoY and 4.5% QoQ.

The bank also registered strong growth in terms of deposits.

stood on its deposit 18,835 billion in Q4FY23, growing by 20.8% as compared to 15,592 billion in Q4FY22. In addition, it registered a growth of 8.7% from deposits 17,332 billion in the previous quarter.

The company’s stock closed with a gain of 0.42 per cent on Tuesday. 1,665 on BSE.