Yes Bank's loans grow 23.5 per cent to Rs 14.80 lakh crore

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Yes Bank's loans grow 23.5 per cent to Rs 14.80 lakh crore

The private sector said in the second quarter of this fiscal it had increased by 23.5 per cent in loans to Rs 14.80 lakh crore.

As of September 30th, last year, the credit book was Rs 11.98 lakh crore.

The bank's advances grew by around 25.8 per cent over September 30, 2021, according to a regulatory filing.

As of September 30, 2022, the bank's deposits grew to around 16.73 lakh crore, a 19 per cent increase from Rs 14.06 crore as of September 30, 2021, it added.

The bank purchased loans aggregating 9,145 crore through the direct assignment route during the quarter ended September 30, 2022, as a result of the home loan arrangement with parent firm Housing Development Corporation Limited.

In April, India's largest private lender agreed to take over the biggest domestic mortgage lender in a deal valued at around USD 40 billion, creating a financial services titan.

The proposed entity will have a combined asset base of around 18 lakh crore. The merger is expected to be completed by the second or third quarter of FY 24, subject to regulatory approvals.

HDFC Bank will be owned 100 per cent by public shareholders once the deal is in place, and existing shareholders of HDFC will own 41 per cent of the bank.

According to a report from Yes Bank, loan growth increased by 11.6 per cent to Rs 1,92, 809 crore in the quarter, compared to Rs 1,72, 839 crore in September 2021.

As of September 30, 2022, the bank's deposits had a total of Rs 2,00, 020 crore, a growth of 13.2 per cent over the 1,76, 672 crore as of September 30, 2021.