HDFC Bank posted strong growth in the fiscal second-quarter ended September, with deposits outpacing loan growth.

The country’s largest lender reported a 16.3% growth in its loan book to Rs 32.20 lakh crore in the September quarter from Rs 27.69 lakh crore a year ago.

Average advances under management, which is adjusted for inter-bank participation certificates, bills rediscounted and securitisation and assignment, grew 14% year-on-year to Rs 31.87 lakh crore.

The bank’s period-end advances under management grew 15.3% YoY to Rs 33.07 lakh crore.

Deposit growth continued to outpace its loan growth on a YoY basis. Total deposits stood at Rs 33.28 lakh crore, up 18.8% from the same quarter last year.

At the end of the September quarter, CASA deposits grew by 10.8% from last year to Rs 10.52 lakh crore. Term deposits also increased by 22.8% YoY to Rs 22.75 lakh crore.

HDFC Bank said it has mobilised $11.5 billion via foreign currency non-resident (Bank), or FCNR (B), deposits under the Reserve Bank of India’s swap window. The overseas branches of the bank extended loan facilities aggregating to $5.7 billion against these deposits. It had also issued $2.5 billion worth of USD-denominated senior unsecured bonds.