HDFC Bank Ltd

HDFC Bank has reported strong provisional business growth for the quarter ended June 30, 2026. Advances under management saw a year-on-year growth of 10.8% to ₹30,386 billion on average and 12.4% to ₹31,270 billion at period end. Gross advances grew by 15.4% to ₹30,610 billion at period end. Deposits also showed robust growth, with average deposits increasing by 13.3% to ₹30,114 billion and period-end deposits rising by 14.7% to ₹31,705 billion. CASA deposits grew 11.2% on average and 9.4% at period end, while time deposits grew 14.3% on average and 17.4% at period end. These figures are subject to a limited review by the statutory auditors.

HDFC Bank Limited announced key management changes following a Board of Directors meeting on June 29, 2026. Mr. Puneet Sharma has been appointed as Chief Financial Officer - Designate (CFO-Designate) effective September 1, 2026, and will assume the role of Chief Financial Officer on December 1, 2026. Concurrently, Mr. Jigar Shah has been appointed as General Counsel – Designate (GC-Designate) effective August 20, 2026, and will become General Counsel on October 1, 2026. Both individuals will be part of the Bank's Senior Management Personnel from their respective designation dates. Mr. Sharma will also be a Key Managerial Person upon becoming CFO. The filing details their extensive experience in banking, finance, legal, and compliance sectors.

HDFC Bank announced the appointment of Mr. Rajiv Kumar as Part-time Chairman and Additional (Independent) Director. The Board of Directors approved his appointment as an Additional Director (Independent Director) for a period of 4 years, effective June 30, 2026, subject to shareholder approval. His appointment as Part-time Chairman is for 3 years, subject to RBI approval. Mr. Kumar, a former Finance Secretary, is recognized for his reforms in the financial services sector. The bank's 32nd Annual General Meeting on August 5, 2026, will include resolutions for these appointments.

HDFC Bank Limited announced the conclusion of a legal review initiated on March 24, 2026, concerning Mr. Atanu Chakraborty's resignation letter. External law firms, Wilson Sonsini Goodrich & Rosati, P.C. and Wadia Ghandy & Co., conducted an extensive three-month review. This involved examining board minutes, conducting interviews with independent directors and senior management, and reviewing relevant documents. The review aimed to assess concerns raised by Mr. Chakraborty and any dissent recorded. The external law firms found that Mr. Chakraborty's statement and its implications were not substantiated by the record or witness interviews. No contemporaneous support was found in meeting minutes or communications, and no evidence indicated he raised concerns about the 'Dubai matter' or other board decisions during his tenure.

HDFC Bank Ltd has announced that its Board of Directors will convene on July 18, 2026. The primary agenda for this meeting is to consider and approve the unaudited standalone and consolidated financial results for the quarter ending June 30, 2026. Additionally, the bank has informed about a trading window closure for its designated employees and their immediate relatives, effective from June 24, 2026, until July 20, 2026, in compliance with the bank's share dealing code and SEBI regulations.

HDFC Bank announced that the Reserve Bank of India (RBI) has approved an extension for Mr. Keki Mistry's tenure as interim Part-time Chairman for three months, until September 18, 2026, or until a regular chairman is appointed. Additionally, the Bank's Board of Directors approved convening the 32nd Annual General Meeting (AGM) on August 5, 2026. At the AGM, shareholders will vote on a proposed dividend of ₹13 per equity share for the fiscal year ended March 31, 2026, with the payment date set for on or after August 6, 2026, subject to shareholder approval.

HDFC Bank, through its GIFT City IFSC Banking Unit, has successfully completed the issuance of USD 750 Million Senior Unsecured Bonds. The bonds, which are expected to be rated Baa3 by Moody's and BBB by S&P, have a tenure of 5 years, maturing on June 24, 2031. The coupon offered is 5.067% per annum, payable semi-annually. The proceeds will be utilized for general banking activities. The Notes will be listed on the India International Exchange (IFSC) Limited and NSE IFSC.

HDFC Bank responded to queries from NSE and BSE regarding a news item about an internal probe into ₹45 crore interest payments to a state transport firm. The bank stated that its internal audit function regularly conducts reviews and addresses observations. HDFC Bank clarified that this specific matter does not have a material impact on its financial statements or internal controls, which are robust. Consequently, the bank believes no disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is triggered. The bank reaffirmed its commitment to high corporate governance standards and regulatory compliance.

HDFC Bank has received approval from the Reserve Bank of India (RBI) to acquire up to 9.95% of the paid-up share capital or voting rights in ICICI Bank and Kotak Mahindra Bank. The approval, granted via letters dated May 6, 2026, is valid until May 5, 2027. While HDFC Bank itself does not intend to invest, the application was made on behalf of its group entities, as their aggregate holding is likely to exceed the 5% limit. The investments by HDFC Bank group entities are in the normal course of their respective businesses.

HDFC Bank announced the retirement of Mr. Bhavesh Zaveri as an Executive Director, effective from the close of business hours on April 18, 2026. Mr. Zaveri joined the Bank in 1998 and held various critical positions, including Business Head – Wholesale Banking Operations, Group Head - Operations, and head of Information Technology. He was a key contributor to the Bank's growth, instrumental in developing its operations, digital footprint, and 'deep geography' strategy, which aided financial inclusion and the digital payment ecosystem, including participation in NPCI. The Board acknowledged his long and devoted service and significant contributions to the Bank and the broader banking industry.