HDFC Bank shares fall despite first double-digit loan growth in Q3 after merger

Shares of HDFC Bank Ltd. opened lower on Monday, January 5, after the lender released its Q3 business update, in which it signaled a return to double-digit loan growth for the first time since the merger on a normalised base.

The bank reported loan book growth of nearly 12% year-on-year for the December quarter. Average advances under management rose 9% YoY to ₹28.63 lakh crore during the quarter.

Gross advances increased 11.9% YoY to ₹28.44 lakh crore, while period-end deposits grew 11.5% YoY to ₹28.59 lakh crore. Deposit growth remained broadly in line with advances growth.

HDFC	Q3FY25	Q2FY26	Q3FY26	QoQ	YoY
Gross Advances	25,42,600	27,69,200	28,44,500	2.7%	11.9%
Adv under mgmt	26,83,900	28,68,800	29,46,000	2.7%	9.8%
Total Deposits	25,63,800	28,01,800	28,59,500	2.1%	11.5%
Time deposits	16,35,200	18,33,500	18,53,900	1.1%	13.4%

Within deposits, period-end CASA deposits rose 10.1% YoY to around ₹9.61 lakh crore.

At a broader level, system-wide credit growth stood at around 12% as of December 15, 2025.

HDFC Bank shares closed 0.92% higher on Friday at ₹1,000.25. The stock has risen 17% in the last one year.