6-K
Hdfc Bank Ltd (HDB)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 under the
Securities Exchange Act of 1934
For the month of April, 2026
Commission File Number 001-15216
HDFC BANK LIMITED
(Translation of registrant’s name into English)
HDFC Bank House, Senapati Bapat Marg,
Lower Parel, Mumbai. 400 013, India
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| HDFC BANK LIMITED | ||
|---|---|---|
| (Registrant) | ||
| Date: April 18, 2026 | By: | /s/ Ajay Agarwal |
| Name: Ajay Agarwal | ||
| Title: Company Secretary Group Head – Secretarial & Group Oversight |
EXHIBIT INDEX
The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the General Instructions for Form 6-K.
Description
Outcome of the Board Meeting held on April 18, 2026
EX-99
Exhibit 99
April 18, 2026
New York Stock Exchange
11, Wall Street,
New York,
NY 10005
USA
Dear Sir,
Sub: Outcome of the Board Meeting held onApril 18, 2026
Pursuant to the applicable provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our letter dated March 24, 2026 and April 02, 2026 read with relevant circulars issued by the Securities and Exchange Board of India, we wish to inform you that the Board of Directors of the Bank, at its meeting held today i.e. on April 18, 2026, approved the following:
| 1. | Financial Results including the audited standalone and consolidated financial results of the Bank for the<br>quarter and year ended March 31, 2026. |
|---|
The Joint Statutory Auditors of the Bank, B S R & Co. LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants have issued an Audit Report on the said Financial Results, with an unmodified audit opinion. Accordingly, please find enclosed the following:
| i. | Results including the audited standalone and consolidated financial results of the Bank for the quarter and<br>year ended March 31, 2026 (“Results”) |
|---|---|
| ii. | Audit Reports issued by the Joint Statutory Auditors of the Bank |
| --- | --- |
| iii. | Press Release on the Results |
| --- | --- |
The Results are also being uploaded on the website of the Bank and will also be published in the newspapers.
| 2. | The Bank paid a special interim dividend of<br>₹ 2.50 per equity share of ₹ 1 each (adjusted for bonus) on August 11,<br>2025. The Board of Directors have now recommended a final dividend of ₹ 13.00 per equity share of<br>₹ 1 for the year ended March 31, 2026. This would be subject to approval of the shareholders at the forthcoming annual general meeting. With this, the total<br>dividend for the year ended March 31, 2026 would be ₹ 15.50 per equity share of<br>₹ 1 each for the year ended March 31, 2026. The record date for determining the eligibility of members entitled to receive the said dividend shall be Friday,<br>June 19, 2026. |
|---|---|
| 3. | Issuance of Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long-Term<br>Bonds for Financing Infrastructure Sub-Sectors up to total amount of Rs. 60,000 crore (Rupees Sixty thousand crore) during the period of twelve months from the date of shareholders’ approval, through<br>private placement mode. |
| --- | --- |
| 4. | Amendments to the Employee Stock Incentive Scheme, 2022 which is in accordance with the Securities and Exchange<br>Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021 subject to the approval of the shareholders by way of Postal Ballot. The details of the proposed amendments are enclosed herewith as Annexure I.<br> |
| --- | --- |
Please note that the Board Meeting commenced at 11.00 a.m. today, i.e. on Saturday, April 18, 2026 concluded at 02.00 p.m.
Further, kindly note that in terms of the Bank’s Share Dealing Code and the SEBI (Prohibition of Insider Trading) Regulations, 2015, the window for trading in Securities of the Bank by its designated persons and their immediate relatives shall open on Tuesday, April 21, 2026.
This is for your information and appropriate dissemination.
Thank you.
Yours faithfully,
For HDFC Bank Limited
Sd/-
Ajay Agarwal
Company Secretary Group Head –Secretarial & Group Oversight
Encl: a/a
Annexure I
PROPOSED AMENDMENTS TO THE EMPLOYEE STOCK INCENTIVE PLAN 2022
In continuation to the intimation submitted by the Bank on March 29, 2022, the Board of Directors of the Bank, subject to the shareholder’s approval, has proposed the following amendments to the Employee Stock Incentive Plan 2022 which was originally approved by the shareholders on May 14, 2022.
| 1. | The name of “Nomination and Remuneration Committee” is changed to “Governance, Nomination and<br>Remuneration Committee” with effect from October 30, 2025, thus references to the said committee in the Stock Incentive Plan have been revised accordingly. |
|---|---|
| 2. | Changes to reflect the present applicable laws, directions, regulations, accounting standards, etc. are being<br>carried out. |
| --- | --- |
| 3. | Extension of the validity of the Stock Incentive Plan 2022 to enable the carry-forward of the unutilized pool<br>of RSUs as approved by the shareholders through postal ballot on May 14, 2022 for an additional period of 5 (five) years i.e. till May 13, 2031. |
| --- | --- |
| 4. | Sub-Clause (g) of Clause B of the Stock Incentive Plan already<br>provides for the authority of Governance, Nomination and Remuneration Committee (“GNRC”) to determine treatment of RSUs in case of termination of employment for misconduct/misdemeanor, subject to disciplinary proceedings, or in<br>case of death, or permanent disability, or otherwise. In furtherance of the same, it is clarified that the GNRC shall also have the authority to decide the treatment of RSUs, including but not limited to cancellation, forfeiture, or modification of<br>Vesting and/or Exercise rights, based on the outcome of any disciplinary proceedings in the event that an Employee is subject to any disciplinary proceedings, investigation, or regulatory action, whether prior to or after the grant of RSUs, and/or<br>suspension of RSUs pending any disciplinary proceedings or appeals or review, as the case may be. |
| --- | --- |
| 5. | Modification in the clause pertaining to criteria for grant of RSUs, wherein: |
| --- | --- |
| • | employment status (such as employees on sabbatical or other approved leave) is proposed to be included as an<br>additional criterion to be considered by the GNRC; and |
| --- | --- |
| • | a carve-out is proposed for newly inducted employees to ensure that the<br>criteria such as grade, performance, merit, length of service, conduct of the Employee and such other relevant factors are not applicable in case of grant to such employees. |
| --- | --- |
| 6. | Change in the maximum number of RSUs from 15,000 RSUs (adjusted to 30,000 RSUs post the Bonus Issue) to 50,000<br>RSUs to be granted to an individual employee per annum under the Stock Incentive Plan 2022 to support employee recognition and retention. |
| --- | --- |
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.
Website: https://www.hdfc.bank.in, Tel.: 022- 6652 1000, Fax:022- 2496 0739
STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2026
| ( in crore) | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | |||||||||||||||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||||||||||||
| Particulars | Audited(Refer note 6) | Unaudited | Audited(Refer note 6) | Audited | Audited | |||||||||||
| 1 | Interest earned (a)+(b)+(c)+(d) | 76610.02 | 76751.16 | 77460.11 | 307522.08 | 300517.04 | ||||||||||
| a) Interest / discount on advances / bills | 60351.21 | 59953.80 | 60415.79 | 239762.46 | 238444.43 | |||||||||||
| b) Income on investments | 13923.99 | 14665.83 | 14427.17 | 58945.38 | 53319.69 | |||||||||||
| c) Interest on balances with Reserve Bank of India and other inter-bank funds | 879.41 | 570.33 | 601.12 | 2674.70 | 2506.31 | |||||||||||
| d) Others | 1455.41 | 1561.20 | 2016.03 | 6139.54 | 6246.61 | |||||||||||
| 2 | Other Income (Refer note 15) | 13198.88 | 13253.84 | 12027.88 | 62532.57 | 45632.28 | ||||||||||
| 3 | Total Income (1)+(2) | 89808.90 | **** | **** | 90005.00 | **** | **** | 89487.99 | **** | **** | 370054.65 | **** | **** | 346149.32 | **** | |
| 4 | Interest expended | 43528.45 | 44136.16 | 45394.31 | 178836.04 | 177846.95 | ||||||||||
| 5 | Operating expenses (i)+(ii) | 18477.53 | 18771.04 | 17556.98 | 72660.33 | 68174.89 | ||||||||||
| i) Employees cost (Refer note 16) | 6227.72 | 7203.17 | 6115.94 | 26050.15 | 23900.53 | |||||||||||
| ii) Other operating expenses | 12249.81 | 11567.87 | 11441.04 | 46610.18 | 44274.36 | |||||||||||
| 6 | Total Expenditure (4)+(5) (excluding provisions and contingencies) | 62005.98 | **** | **** | 62907.20 | **** | **** | 62951.29 | **** | **** | 251496.37 | **** | **** | 246021.84 | **** | |
| 7 | Operating Profit before provisions and contingencies (3)-(6) | 27802.92 | **** | **** | 27097.80 | **** | **** | 26536.70 | **** | **** | 118558.28 | **** | **** | 100127.48 | **** | |
| 8 | Provisions (other than tax) and Contingencies (Refer note 10) | 2609.57 | 2837.86 | 3193.05 | 23389.59 | 11649.42 | ||||||||||
| 9 | Exceptional items | — | — | — | — | — | ||||||||||
| 10 | Profit from ordinary activities before tax (7)-(8)-(9) | 25193.35 | **** | **** | 24259.94 | **** | **** | 23343.65 | **** | **** | 95168.69 | **** | **** | 88478.06 | **** | |
| 11 | Tax Expense (Refer note 18) | 5972.30 | 5606.19 | 5727.51 | 20497.40 | 21130.70 | ||||||||||
| 12 | Net Profit from ordinary activities after tax (10)-(11) | 19221.05 | **** | **** | 18653.75 | **** | **** | 17616.14 | **** | **** | 74671.29 | **** | **** | 67347.36 | **** | |
| 13 | Extraordinary items (net of tax expense) | — | — | — | — | — | ||||||||||
| 14 | Net Profit for the period (12)-(13) | 19221.05 | **** | **** | 18653.75 | **** | **** | 17616.14 | **** | **** | 74671.29 | **** | **** | 67347.36 | **** | |
| 15 | Paid up equity share capital (Face Value of 1/- each) | 1539.34 | 1538.46 | 765.22 | 1539.34 | 765.22 | ||||||||||
| 16 | Reserves excluding revaluation reserves | 556816.45 | 496854.21 | |||||||||||||
| 17 | Analytical Ratios and other disclosures: | |||||||||||||||
| (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | |||||||||||
| (ii) Capital Adequacy Ratio | 19.71 | % | 19.87 | % | 19.55 | % | 19.71 | % | 19.55 | % | ||||||
| (iii) Earnings per share (EPS) () (Face Value of 1/- each):<br>(Refer note 7) | ||||||||||||||||
| (a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 12.49 | 12.13 | 11.52 | 48.62 | 44.15 | |||||||||||
| (b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 12.45 | 12.08 | 11.46 | 48.40 | 43.95 | |||||||||||
| (iv) NPA Ratios: | ||||||||||||||||
| (a) Gross NPAs | 34061.19 | 35178.98 | 35222.64 | 34061.19 | 35222.64 | |||||||||||
| (b) Net NPAs | 11169.54 | 11981.75 | 11320.43 | 11169.54 | 11320.43 | |||||||||||
| (c) % of Gross NPAs to Gross Advances | 1.15 | % | 1.24 | % | 1.33 | % | 1.15 | % | 1.33 | % | ||||||
| (d) % of Net NPAs to Net Advances | 0.38 | % | 0.42 | % | 0.43 | % | 0.38 | % | 0.43 | % | ||||||
| (v) Return on assets (average) - not annualized | 0.48 | % | 0.48 | % | 0.48 | % | 1.94 | % | 1.91 | % | ||||||
| (vi) Net worth | 546325.46 | 526944.57 | 488899.89 | 546325.46 | 488899.89 | |||||||||||
| (vii) Outstanding Redeemable Preference Shares | — | — | — | — | — | |||||||||||
| (viii) Capital Redemption Reserve | — | — | — | — | — | |||||||||||
| (ix) Debt Equity Ratio* | 0.53 | 0.49 | 0.74 | 0.53 | 0.74 | |||||||||||
| (x) Total Debts to Total Assets** | 11.21 | % | 12.75 | % | 14.01 | % | 11.21 | % | 14.01 | % |
All values are in Indian Rupees.
* Debt represents borrowings with residual maturity of more than one year.
** Total debts represents total borrowings of the Bank.
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Standalone Segment information in accordance with the RBI guidelines and Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:
| ( in crore) | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | |||||||||||||||||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||||||||||||||
| Particulars | Audited(Refer note 6) | Unaudited | Audited(Refer note 6) | Audited | Audited | |||||||||||||
| 1 | Segment Revenue | |||||||||||||||||
| a) | Treasury (Refer note 15) | 17295.96 | 18148.96 | 16910.36 | 84337.48 | 62227.48 | ||||||||||||
| b) | Retail Banking: | 74757.59 | 76320.22 | 73391.30 | 301853.51 | 283434.79 | ||||||||||||
| (i) Digital Banking* | 2.76 | 2.50 | 2.40 | 10.37 | 8.59 | |||||||||||||
| (ii) Non Digital Banking | 74754.83 | 76317.72 | 73388.90 | 301843.14 | 283426.20 | |||||||||||||
| c) | Wholesale Banking | 44643.71 | 42764.00 | 49637.35 | 174506.30 | 191964.51 | ||||||||||||
| d) | Other Banking Operations | 9265.09 | 9548.42 | 9573.11 | 36840.96 | 35449.05 | ||||||||||||
| e) | Unallocated | — | — | — | — | — | ||||||||||||
| Total | **** | 145962.35 | **** | **** | 146781.60 | **** | **** | 149512.12 | **** | **** | 597538.25 | **** | **** | 573075.83 | **** | |||
| Less: Inter Segment Revenue | 56153.45 | 56776.60 | 60024.13 | 227483.60 | 226926.51 | |||||||||||||
| Income from Operations | **** | 89808.90 | **** | **** | 90005.00 | **** | **** | 89487.99 | **** | **** | 370054.65 | **** | **** | 346149.32 | **** | |||
| 2 | Segment Results^$^ | |||||||||||||||||
| a) | Treasury (Refer note 15) | 1925.23 | 2227.60 | 1230.69 | 21142.48 | 4605.36 | ||||||||||||
| b) | Retail Banking: | 10897.98 | 8648.18 | 8148.74 | 32026.72 | 27309.11 | ||||||||||||
| (i) Digital Banking* | (0.56 | ) | (0.39 | ) | 0.02 | (1.59 | ) | 0.04 | ||||||||||
| (ii) Non Digital Banking | 10898.54 | 8648.57 | 8148.72 | 32028.31 | 27309.07 | |||||||||||||
| c) | Wholesale Banking | 10398.96 | 10927.99 | 10406.43 | 33947.96 | 44543.96 | ||||||||||||
| d) | Other Banking Operations | 2562.40 | 3046.97 | 4143.85 | 10415.96 | 14363.75 | ||||||||||||
| e) | Unallocated | (591.22 | ) | (590.80 | ) | (586.06 | ) | (2364.43 | ) | (2344.12 | ) | |||||||
| Total Profit Before Tax | **** | 25193.35 | **** | **** | 24259.94 | **** | **** | 23343.65 | **** | **** | 95168.69 | **** | **** | 88478.06 | **** | |||
| 3 | Segment Assets | |||||||||||||||||
| a) | Treasury | 1149929.44 | 956133.04 | 991874.12 | 1149929.44 | 991874.12 | ||||||||||||
| b) | Retail Banking: | 1580887.11 | 1540545.07 | 1533890.27 | 1580887.11 | 1533890.27 | ||||||||||||
| (i) Digital Banking* | 138.04 | 116.89 | 81.15 | 138.04 | 81.15 | |||||||||||||
| (ii) Non Digital Banking | 1580749.07 | 1540428.18 | 1533809.12 | 1580749.07 | 1533809.12 | |||||||||||||
| c) | Wholesale Banking | 1499816.13 | 1457970.60 | 1247937.97 | 1499816.13 | 1247937.97 | ||||||||||||
| d) | Other Banking Operations | 112867.13 | 111587.23 | 112358.81 | 112867.13 | 112358.81 | ||||||||||||
| e) | Unallocated | 21386.51 | 22751.33 | 24137.77 | 21386.51 | 24137.77 | ||||||||||||
| Total | **** | 4364886.32 | **** | **** | 4088987.27 | **** | **** | 3910198.94 | **** | **** | 4364886.32 | **** | **** | 3910198.94 | **** | |||
| 4 | Segment Liabilities^$^ | |||||||||||||||||
| a) | Treasury | 98273.66 | 99276.09 | 83340.18 | 98273.66 | 83340.18 | ||||||||||||
| b) | Retail Banking: | 2528789.64 | 2416164.68 | 2312515.85 | 2528789.64 | 2312515.85 | ||||||||||||
| (i) Digital Banking* | 147.09 | 124.42 | 86.16 | 147.09 | 86.16 | |||||||||||||
| (ii) Non Digital Banking | 2528642.55 | 2416040.26 | 2312429.69 | 2528642.55 | 2312429.69 | |||||||||||||
| c) | Wholesale Banking | 1130276.17 | 988303.80 | 956136.34 | 1130276.17 | 956136.34 | ||||||||||||
| d) | Other Banking Operations | 3997.87 | 3956.36 | 8513.18 | 3997.87 | 8513.18 | ||||||||||||
| e) | Unallocated | 40648.08 | 38831.40 | 48268.77 | 40648.08 | 48268.77 | ||||||||||||
| Total | **** | 3801985.42 | **** | **** | 3546532.33 | **** | **** | 3408774.32 | **** | **** | 3801985.42 | **** | **** | 3408774.32 | **** | |||
| 5 | Capital, Employees stock options outstanding and Reserves | 562900.90 | 542454.94 | 501424.62 | 562900.90 | 501424.62 | ||||||||||||
| 6 | Total (4)+(5) | **** | 4364886.32 | **** | **** | 4088987.27 | **** | **** | 3910198.94 | **** | **** | 4364886.32 | **** | **** | 3910198.94 | **** | ||
All values are in Indian Rupees.
*Information about Digital Banking Segment reported as a sub-segment of RetailBanking Segment is related to Digital Banking Units of the Bank.
^$^Segment Results andLiabilities for the year ended March 31, 2026 are after considering the impact of floating provisions in the respective segments.
Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI. The Segment Assets and Segment Liabilities exclude transfers between segments and are transfer priced on a gross basis.
Notes :
| 1 | Standalone statement of Assets and Liabilities is given below: | |||||||
|---|---|---|---|---|---|---|---|---|
| ( in crore) | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | |
| As at31.03.2026 | As at31.03.2025 | |||||||
| Particulars | Audited | Audited | ||||||
| CAPITAL AND LIABILITIES | ||||||||
| Capital | 1539.34 | 765.22 | ||||||
| Employees stock options outstanding | 4545.11 | 3805.19 | ||||||
| Reserves and surplus | 556816.45 | 496854.21 | ||||||
| Deposits | 3105250.48 | 2714714.90 | ||||||
| Borrowings | 489394.63 | 547930.90 | ||||||
| Other liabilities and provisions | 207340.31 | 146128.52 | ||||||
| Total | **** | 4364886.32 | **** | **** | 3910198.94 | **** | ||
| ASSETS | ||||||||
| Cash and balances with Reserve Bank of India | 200679.37 | 144355.03 | ||||||
| Balances with banks and money at call and short notice | 97786.99 | 95215.65 | ||||||
| Investments | 884201.47 | 836359.68 | ||||||
| Advances | 2937166.26 | 2619608.61 | ||||||
| Fixed assets | 14724.64 | 13655.40 | ||||||
| Other assets | 230327.59 | 201004.57 | ||||||
| Total | **** | 4364886.32 | **** | **** | 3910198.94 | **** | ||
All values are in Indian Rupees.
| 2 | Standalone statement of Cashflows is given below: | ||||||
|---|---|---|---|---|---|---|---|
| ( in crore) | |||||||
| --- | --- | --- | --- | --- | --- | --- | |
| Year ended | |||||||
| 31.03.2026 | 31.03.2025 | ||||||
| Particulars | Audited | Audited | |||||
| Cash flows from operating activities: | |||||||
| Profit after tax | 74671.29 | 67347.36 | |||||
| Add: Provision for income tax | 20497.40 | 21130.70 | |||||
| Profit before income tax | **** | 95168.69 | **** | **** | 88478.06 | **** | |
| Adjustments for: | |||||||
| Depreciation on fixed assets | 3657.58 | 3379.47 | |||||
| (Profit) / loss on revaluation of investments | (1075.82 | ) | 268.40 | ||||
| Amortisation of premium / (discount) on investments | 917.73 | (27.87 | ) | ||||
| Profit on sale of fixed assets | (186.57 | ) | (22.65 | ) | |||
| (Profit) / loss on sale of investment in subsidiary | (9179.40 | ) | 8.00 | ||||
| Provision / charge for non performing assets | 11416.80 | 12715.31 | |||||
| Floating provisions | 9,000.00 | — | |||||
| Provision / (write-back) for standard assets and contingencies | 2972.78 | (1065.87 | ) | ||||
| Dividend from subsidiaries | (2242.21 | ) | (2187.01 | ) | |||
| Employee stock options / units expense | 1971.07 | 1890.70 | |||||
| **** | 112420.65 | **** | **** | 103436.54 | **** | ||
| Adjustments for: | |||||||
| Increase in investments | (49116.60 | ) | (130200.37 | ) | |||
| Increase in advances | (328962.40 | ) | (148903.38 | ) | |||
| Increase in deposits | 390535.58 | 334928.62 | |||||
| Increase in other assets | (30222.30 | ) | (7342.45 | ) | |||
| Increase in other liabilities and provisions | 49002.92 | 10634.06 | |||||
| **** | 143657.85 | **** | **** | 162553.02 | **** | ||
| Direct taxes paid (net of refunds) | (20040.85 | ) | (17375.71 | ) | |||
| Net cash flow from operating activities | **** | 123617.00 | **** | **** | 145177.31 | **** | |
| Cash flows from investing activities: | |||||||
| Purchase of fixed assets | (3143.53 | ) | (3198.69 | ) | |||
| Proceeds from sale of fixed assets | 429.76 | 90.45 | |||||
| Investment in subsidiaries | (80.87 | ) | (1,309.77 | ) | |||
| Proceeds from sale of investment in subsidiary (net of expenses) | 9,806.00 | 192.00 | |||||
| Dividend from subsidiaries | 2242.21 | 2187.01 | |||||
| Net cash flow from / (used in) investing activities | **** | 9253.57 | **** | **** | (2039.00 | ) | |
| Cash flows from financing activities: | |||||||
| Proceeds from issue of share capital | 5108.50 | 6346.50 | |||||
| Proceeds/(Repayments) of Tier 1 and Tier 2 capital instruments | — | — | |||||
| Repayments of other borrowings (net) | (59472.25 | ) | (114429.18 | ) | |||
| Dividend paid | (20705.98 | ) | (14826.19 | ) | |||
| Net cash flow used in financing activities | **** | (75069.73 | ) | **** | (122908.87 | ) | |
| Effect of fluctuation in foreign currency translation reserve | 1094.84 | 193.83 | |||||
| Net increase / (decrease) in cash and cash equivalents | **** | 58895.68 | **** | **** | 20423.27 | **** | |
| Cash and cash equivalents at the beginning of the year | **** | 239570.68 | **** | **** | 219147.41 | **** | |
| Cash and cash equivalents at the end of the period | **** | 298466.36 | **** | **** | 239570.68 | **** |
All values are in Indian Rupees.
Cash and cash equivalents includes Cash and balances with Reserve Bank of India and Balances withbanks and money at call and short notice.
| 3 | The above standalone financial results have been approved by the Board of Directors of the Bank at its meeting<br>held on April 18, 2026. The financial results for the year ended March 31, 2026 have been subjected to an audit by the joint statutory auditors of the Bank viz. Batliboi & Purohit, Chartered Accountants and B S R & Co.<br>LLP, Chartered Accountants. The financial results for year ended March 31, 2025 were audited by the Bank’s joint statutory auditors - Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants.<br> | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 4 | These financial results have been prepared in accordance with the recognition and measurement principles laid<br>down in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (“the<br>RBI”) from time to time and other accounting principles generally accepted in India, and are in compliance with the presentation and disclosure requirements of the Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and<br>Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by the SEBI from time to time, to the extent applicable. Basis nature of the<br>Bank’s business, applicable ratios under the said regulations are disclosed. | |||||||||
| --- | --- | |||||||||
| 5 | The Bank has applied its significant accounting policies in the preparation of these financial results<br>consistent with those followed in the annual financial statements. Any circular / direction issued by RBI is implemented prospectively when it becomes applicable, unless specifically required under those circulars / directions.<br> | |||||||||
| --- | --- | |||||||||
| 6 | The figures of the last quarter in each of the financial years are the balancing figures between audited<br>figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the respective financial years. | |||||||||
| --- | --- | |||||||||
| 7 | During the year ended March 31, 2026, the shareholders of the Bank have approved, through postal ballot,<br>the issuance of bonus shares, in the proportion of 1:1, i.e. 1 (One) bonus equity share of ₹ 1/- each for every 1 (One) fully<br>paid-up equity share held as on the record date. Accordingly, the Bank has allotted 7,67,70,39,761 equity shares as bonus shares on August 28, 2025 by utilisation of share premium. All shares and per<br>share information in the financial results reflect the effect of bonus shares issuance retrospectively. | |||||||||
| --- | --- | |||||||||
| 8 | The Board of Directors of the Bank at its meeting held on April 18, 2026, has proposed a final dividend of<br>₹ 13.00 per share, subject to approval of the members at the ensuing Annual General Meeting (AGM). Effect of the proposed dividend has been reckoned in<br>determining capital funds in the computation of capital adequacy ratio. | |||||||||
| --- | --- | |||||||||
| 9 | During the quarter and year ended March 31, 2026, the Bank has allotted 87,91,112 and 6,41,06,893 equity<br>shares respectively, pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme. | |||||||||
| --- | --- | |||||||||
| 10 | During the year ended March 31, 2026, the Bank has made a floating provision of ₹ 9,000.00 crore in line with the Board approved policy. | |||||||||
| --- | --- | |||||||||
| 11 | Disclosure under resolution framework for<br>COVID-19-related stress as at March 31, 2026, as per the Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions,<br>2025 dated November 28, 2025, are given below: | |||||||||
| --- | --- | |||||||||
| ( in crore) | ||||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| Type of Borrower | Exposure toaccounts classifiedas Standardconsequent toimplementation ofresolution plan <br>-Position as at theend of the previoushalf-year i.e.September 30,2025 (A)^ | Of (A), aggregatedebt that slippedinto NPA duringthe half-yearended<br><br><br>March 31,<br><br><br>2026 | Of (A) amountwritten off duringthe half-year^#^ | Of (A) amountpaid by theborrowers duringthe half-year | Exposure toaccountsclassified asStandardconsequent toimplementationof resolution plan–Position as atthe end of thishalf-year i.eMarch 31,<br> <br>2026^ | |||||
| Personal Loans | 2,343.34 | 36.49 | 10.07 | 339.40 | 1,967.45 | |||||
| Corporate persons* | 197.22 | 0.38 | 0.30 | 23.37 | 173.47 | |||||
| Of which, MSMEs | 21.13 | — | — | 5.84 | 15.29 | |||||
| Others | 167.25 | 1.76 | 1.12 | 34.20 | 131.29 | |||||
| Total | 2,707.81 | 38.63 | 11.49 | 396.97 | 2,272.21 | |||||
All values are in Indian Rupees.
* As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016.
^#^ Represents debt that slipped into NPA and was subsequently written off during the half- year ended March 31, 2026.
^ Excludes other facilities to the borrowers aggregating to ₹ 193.59 crore as of March 31,2026 and ₹ 223.04 crore as of September 30,2025 which have not been restructured.
| 12 | Disclosures on the details of loans transferred / acquired and<br>co-lending arrangements during the quarter ended March 31, 2026, as per the Reserve Bank of India (Commercial Banks—Financial Statements: Presentation and Disclosures) Directions, 2025 dated<br>November 28, 2025, are given below: | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| (i) | Details of non-performing assets (NPAs) transferred:<br> | ||||||||
| --- | --- | ||||||||
| in crore except number of accounts | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | |
| Particulars | To AssetReconstructionCompanies(ARCs) | Topermittedtransferees | To othertransferees | ||||||
| Number of accounts | 22.00 | — | — | ||||||
| Aggregate principal outstanding of loans transferred | 16.33 | — | — | ||||||
| Weighted average residual tenor of the loans transferred (in years) | — | — | — | ||||||
| Net book value of loans transferred (at the time of transfer) | — | — | — | ||||||
| Aggregate consideration | 16.33 | — | — | ||||||
| Additional consideration realised in respect of accounts transferred in earlier years | 12.86 | — | — |
All values are in Indian Rupees.
The Bank has reversed the excess provision of ₹ 16.33 crore to Profit and Loss account on sale of the aforesaid loans.
| (ii) | The Bank has not transferred / acquired any loans not in default. | |||||||
|---|---|---|---|---|---|---|---|---|
| (iii) | The Bank has not acquired any stressed loans (Non-performing assets and<br>Special Mention Accounts). | |||||||
| --- | --- | |||||||
| (iv) | The Bank has not transferred any Special Mention Accounts. | |||||||
| --- | --- | |||||||
| (v) | Details of ratings of Security Receipts (SRs) outstanding as on March 31, 2026 are given below:<br> | |||||||
| --- | --- | |||||||
| ( in crore) | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | |
| Rating | Rating Agency | Recovery rating | Gross Value ofOutstandingSRs | |||||
| RR5 | India Ratings | Upto 25% | 125.89 | |||||
| RR2 | India Ratings | 75% - 100% | 27.32 | |||||
| RR5 | CRISIL | Upto 25% | 31.59 | |||||
| RR1+ | India Ratings | More than 150% | 0.15 | |||||
| RR4 | India Ratings | 25% - 50% | 35.26 | |||||
| RR1 | ICRA | 100% - 150% | 117.78 | |||||
| Unrated | 719.90 | |||||||
| Total | **** | 1,057.89 | **** |
All values are in Indian Rupees.
| (vi) | The Bank has not entered into any co-lending transactions during the<br>quarter. | |||||
|---|---|---|---|---|---|---|
| 13 | Disclosure related to Project Finance for the quarter ended March 31,2026, as per the Reserve Bank of<br>India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025, is given below: | |||||
| --- | --- | |||||
| Item Description | Number ofaccounts | Totaloutstanding( in crore) | ||||
| --- | --- | --- | --- | --- | --- | |
| 1. Projects under implementation accounts at the beginning of the quarter | 428 | 22,515.79 | ||||
| 2. Projects under implementation accounts sanctioned during the quarter | 73 | 1,316.60 | ||||
| 3. Projects under implementation accounts where DCCO has been achieved during the quarter | 54 | 2,412.27 | ||||
| 4. Projects under implementation accounts at the end of the quarter | 447 | 24,472.62 | ||||
| 5. Out of ‘4’ – accounts in respect of which resolution process involving<br>extension in original / extended DCCO, as the case may be has been invoked | 41 | 1,555.32 | ||||
| 5.1. Out of ‘5’ – accounts in respect of which Resolution plan has been<br>implemented | 31 | 1,144.13 | ||||
| 5.2. Out of ‘5’ – accounts in respect of which Resolution plan is under<br>implementation | 10 | 411.19 | ||||
| 5.3. Out of ‘5’ – accounts in respect of which Resolution plan has<br>failed | — | — | ||||
| 6. Out of ‘5’, accounts in respect of which resolution process involving extension in<br>original / extended DCCO, as the case may be has been invoked due to change in scope and size of the project | — | — | ||||
| 7. Out of ‘5’, account in respect of which cost overrun associated with extension in<br>original / extended DCCO, as the case may be, was funded | — | — | ||||
| 7.1. Out of ‘7’, accounts where SBCF was sanctioned during financial closure and<br>renewed continuously | — | — | ||||
| 7.2. Out of ‘7’, accounts where SBCF was not<br>pre-sanctioned or renewed continuously | — | — | ||||
| 8. Out of ‘4’ – accounts in respect of which resolution process not involving<br>extension in original / extended DCCO, as the case may be has been invoked | — | — | ||||
| 8.1. Out of ‘8’ – accounts in respect of which Resolution plan has been<br>implemented | — | — | ||||
| 8.2. Out of ‘8’ – accounts in respect of which Resolution plan is under<br>implementation | — | — | ||||
| 8.3. Out of ‘8’ – accounts in respect of which Resolution plan has<br>failed | — | — |
All values are in Indian Rupees.
| 14 | Other income includes commission income from non-fund based banking<br>activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, dividends from subsidiaries and recoveries from accounts previously written off. |
|---|---|
| 15 | On June 25, 2025, the Bank’s subsidiary company, HDB Financial Services Limited<br>(“HDBFS”) launched its initial public offering (“IPO”), comprised of a fresh issuance of equity shares aggregating to ₹ 2,500.00 crore and<br>an offer for sale (“OFS”) of equity shares by the Bank, aggregating to ₹ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares<br>of ₹ 10/- each of HDBFS at ₹ 740/- per share, for a consideration<br>aggregating to ₹ 10,000.00 crore. Consequently, the net gain to the Bank on sale of shares under the OFS is ₹ 9,179.40 crore (before tax and net of IPO related expenses) during the year ended March 31, 2026. |
| --- | --- |
| 16 | On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the<br>Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’, consolidating 29 existing labour laws. The<br>Ministry of Labour & Employment published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Accordingly, the Bank has recognised an estimated<br>incremental impact of ₹ 800.00 crore under ‘Employees cost’ in the Profit and Loss Account during the quarter ended December 31, 2025 and year<br>ended March 31, 2026, considering best information available. The Bank continues to monitor the finalisation of Central and State Rules and clarifications from the Government on the New Labour Codes and would provide appropriate accounting<br>effect on the basis of such developments, as needed. |
| --- | --- |
| 17 | At its meeting held on April 16, 2026, the Board of Directors of the Bank approved an investment of up to ₹ 1,000.00 crore in the proposed preferential issue of equity shares by HDFC Life Insurance Company Limited, a subsidiary of the Bank, in one or more tranches. The<br>investment will be made in accordance with applicable SEBI ICDR Regulations and is subject to necessary approvals, including from the Reserve Bank of India. |
| --- | --- |
| 18 | Provision for tax during the year ended March 31, 2026 is net of write back of provision no longer<br>required of ₹ 1,144.46 crore, pursuant to favourable orders received. |
| --- | --- |
| 19 | As intimated to the Stock Exchanges on September 26, 2025, the Bank’s branch at the Dubai<br>International Financial Centre (“DIFC Branch”) received a decision notice dated September 25, 2025 from the Dubai Financial Services Authority (“DFSA”), prohibiting, amongst other things, the branch from soliciting or<br>conducting business with new clients for specified financial services. The prohibition does not affect servicing of existing customers and will remain in place until otherwise amended or revoked in writing by DFSA. The Bank is taking necessary steps<br>to comply with the directives in the above-referred notice. |
| --- | --- |
The business undertaken at the DIFC Branch is not material to the Bank’s operations or its financial position and accordingly no material impact is expected with respect to the overall operations or financial position of the Bank.
| 20 | As intimated to the Stock Exchanges on March 24, 2026, the Board of Directors of the Bank approved the<br>appointment of external law firms (domestic and international) to conduct a review related to the resignation letter of the Bank’s former Part-time Chairman and Independent Director, Mr. Atanu Chakraborty. The Bank does not expect any<br>material impact on the financial statements as of and for the year ended March 31, 2026, arising from the external law firms` review, which is currently in progress. The Bank continues to be committed to corporate governance standards and<br>remains adequately capitalised in accordance with the regulatory requirements. | |
|---|---|---|
| 21 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current<br>period’s classification. | |
| --- | --- | |
| 22 | ₹ 10 million = ₹ 1 crore | |
| --- | --- | |
| Sashidhar Jagdishan | ||
| --- | --- | --- |
| Place: Mumbai | Managing Director | |
| Date: April 18, 2026 | DIN-08614396 |
HDFC BANK LIMITED
CIN : L65920MH1994PLC080618
Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.
Website: https://www.hdfc.bank.in, Tel.: 022- 6652 1000, Fax:022- 2496 0739
CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31,2026
| ( in crore) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | ||||||||||||||||||||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | |||||||||||||||||
| Particulars | Audited(Refer note 6) | Unaudited | Audited<br>(Refer note 6) | Audited | Audited | ||||||||||||||||
| 1 | Interest earned (a)+(b)+(c)+(d) | **** | 87182.50 | **** | **** | 87066.94 | **** | **** | 86779.34 | **** | **** | 348615.15 | **** | **** | 336367.43 | **** | |||||
| a) Interest / discount on advances / bills | 64620.88 | 64114.01 | 64006.90 | 256192.47 | 251953.60 | ||||||||||||||||
| b) Income on investments | 19931.22 | 20580.11 | 19733.02 | 82656.87 | 73912.07 | ||||||||||||||||
| c) Interest on balances with Reserve Bank of India and other inter-bank funds | 1118.23 | 773.53 | 761.74 | 3457.06 | 3172.52 | ||||||||||||||||
| d) Others | 1512.17 | 1599.29 | 2277.68 | 6308.75 | 7329.24 | ||||||||||||||||
| 2 | Other income (a)+(b) | **** | 29737.44 | **** | **** | 39860.33 | **** | **** | 33489.42 | **** | **** | 146847.66 | **** | **** | 134548.50 | **** | |||||
| a) Premium and other operating income from insurance business | 27584.74 | 19991.48 | 25635.74 | 84160.02 | 78589.17 | ||||||||||||||||
| b) Others (Refer note 10) | 2152.70 | 19868.85 | 7853.68 | 62687.64 | 55959.33 | ||||||||||||||||
| 3 | Total income (1)+(2) | **** | 116919.94 | **** | **** | 126927.27 | **** | **** | 120268.76 | **** | **** | 495462.81 | **** | **** | 470915.93 | **** | |||||
| 4 | Interest expended | 45220.44 | 45821.42 | 46986.21 | 185491.23 | 183894.20 | |||||||||||||||
| 5 | Operating expenses (i)+(ii)+(iii) | **** | 40587.82 | **** | **** | 50524.04 | **** | **** | 43903.80 | **** | **** | 181173.91 | **** | **** | 176605.07 | **** | |||||
| i) Employees cost (Refer note 11) | 9089.30 | 10300.49 | 8809.68 | 37604.81 | 34135.75 | ||||||||||||||||
| ii) Claims and benefits paid and other expenses pertaining to insurance business | 18170.74 | 27107.87 | 22543.14 | 92340.22 | 94437.39 | ||||||||||||||||
| iii) Other operating expenses | 13327.78 | 13115.68 | 12550.98 | 51228.88 | 48031.93 | ||||||||||||||||
| 6 | Total expenditure (4)+(5) (excluding provisions and contingencies) | **** | 85808.26 | **** | **** | 96345.46 | **** | **** | 90890.01 | **** | **** | 366665.14 | **** | **** | 360499.27 | **** | |||||
| 7 | Operating profit before provisions and contingencies (3)-(6) | **** | 31111.68 | **** | **** | 30581.81 | **** | **** | 29378.75 | **** | **** | 128797.67 | **** | **** | 110416.66 | **** | |||||
| 8 | Provisions (other than tax) and contingencies (Refer note 9) | 3440.05 | 3620.71 | 3805.36 | 26656.22 | 14174.61 | |||||||||||||||
| 9 | Exceptional items | — | — | — | — | — | |||||||||||||||
| 10 | Profit from ordinary activities before tax and minority interest (7)-(8)-(9) | **** | 27671.63 | **** | **** | 26961.10 | **** | **** | 25573.39 | **** | **** | 102141.45 | **** | **** | 96242.05 | **** | |||||
| 11 | Tax expense | 6597.41 | 6270.06 | 6288.82 | 22921.99 | 22801.88 | |||||||||||||||
| 12 | Net profit from ordinary activities after tax and before minority interest (10)-(11) | **** | 21074.22 | **** | **** | 20691.04 | **** | **** | 19284.57 | **** | **** | 79219.46 | **** | **** | 73440.17 | **** | |||||
| 13 | Extraordinary items (net of tax expense) | — | — | — | — | — | |||||||||||||||
| 14 | Net profit for the period before minority interest (12)-(13) | **** | 21074.22 | **** | **** | 20691.04 | **** | **** | 19284.57 | **** | **** | 79219.46 | **** | **** | 73440.17 | **** | |||||
| 15 | Less: Minority interest | 723.46 | 884.41 | 449.69 | 3193.49 | 2647.92 | |||||||||||||||
| 16 | Net profit for the period (14)-(15) | **** | 20350.76 | **** | **** | 19806.63 | **** | **** | 18834.88 | **** | **** | 76025.97 | **** | **** | 70792.25 | **** | |||||
| 17 | Paid up equity share capital (Face value of 1/- each) | 1539.34 | 1538.46 | 765.22 | 1539.34 | 765.22 | |||||||||||||||
| 18 | Reserves excluding revaluation reserves | 579975.02 | 517218.98 | ||||||||||||||||||
| 19 | Analytical Ratios and other disclosures : | ||||||||||||||||||||
| (i) Percentage of shares held by Government of India | Nil | Nil | Nil | Nil | Nil | ||||||||||||||||
| (ii) Earnings per share (EPS) () (Face value of 1/- each):<br>(Refer note 7) | |||||||||||||||||||||
| (a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized | 13.22 | 12.88 | 12.31 | 49.50 | 46.41 | ||||||||||||||||
| (b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized | 13.18 | 12.82 | 12.26 | 49.28 | 46.20 |
All values are in Indian Rupees.
Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.
Consolidated Segment information in accordance with the RBI guidelines and Accounting Standard 17 - Segment Reporting of the operating segments of the Group is as under:
| ( in crore) | ||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Quarter ended | Year ended | |||||||||||||||||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.2026 | 31.03.2025 | ||||||||||||||
| Particulars | Audited(Refer note 6) | Unaudited | Audited(Refer note 6) | Audited | Audited | |||||||||||||
| 1 | Segment Revenue | |||||||||||||||||
| a) | Treasury (Refer note 10) | 17295.96 | 18148.96 | 16910.36 | 82158.35 | 62227.48 | ||||||||||||
| b) | Retail Banking: | 74757.59 | 76320.22 | 73391.30 | 301853.51 | 283434.79 | ||||||||||||
| (i) Digital Banking* | 2.76 | 2.50 | 2.40 | 10.37 | 8.59 | |||||||||||||
| (ii) Non Digital Banking | 74754.83 | 76317.72 | 73388.90 | 301843.14 | 283426.20 | |||||||||||||
| c) | Wholesale Banking | 44643.71 | 42764.00 | 49637.35 | 174506.30 | 191964.51 | ||||||||||||
| d) | Other Banking Operations | 9265.09 | 9548.42 | 9573.11 | 36840.96 | 35449.05 | ||||||||||||
| e) | Insurance Business** | 21980.32 | 31681.36 | 26408.60 | 108079.83 | 107630.27 | ||||||||||||
| f) | Others^ | 5130.72 | 5240.91 | 4372.17 | 19507.46 | 17136.34 | ||||||||||||
| g) | Unallocated | — | — | — | — | — | ||||||||||||
| Total | **** | 173073.39 | **** | **** | 183703.87 | **** | **** | 180292.89 | **** | **** | 722946.41 | **** | **** | 697842.44 | **** | |||
| Less: Inter Segment Revenue | 56153.45 | 56776.60 | 60024.13 | 227483.60 | 226926.51 | |||||||||||||
| Income from Operations | **** | 116919.94 | **** | **** | 126927.27 | **** | **** | 120268.76 | **** | **** | 495462.81 | **** | **** | 470915.93 | **** | |||
| 2 | Segment Results*** | |||||||||||||||||
| a) | Treasury (Refer note 10) | 1925.23 | 2227.60 | 1230.69 | 18963.35 | 4605.36 | ||||||||||||
| b) | Retail Banking: | 10897.98 | 8648.18 | 8148.74 | 32026.72 | 27309.11 | ||||||||||||
| (i) Digital Banking* | (0.56 | ) | (0.39 | ) | 0.02 | (1.59 | ) | 0.04 | ||||||||||
| (ii) Non Digital Banking | 10898.54 | 8648.57 | 8148.72 | 32028.31 | 27309.07 | |||||||||||||
| c) | Wholesale Banking | 10398.96 | 10927.99 | 10406.43 | 33947.96 | 44543.96 | ||||||||||||
| d) | Other Banking Operations | 2562.40 | 3046.97 | 4143.85 | 10415.96 | 14363.75 | ||||||||||||
| e) | Insurance Business** | 1778.65 | 1913.74 | 1871.17 | 7083.51 | 5953.61 | ||||||||||||
| f) | Others^ | 699.63 | 787.42 | 358.57 | 2068.38 | 1810.38 | ||||||||||||
| g) | Unallocated | (591.22 | ) | (590.80 | ) | (586.06 | ) | (2364.43 | ) | (2344.12 | ) | |||||||
| Total Profit Before Tax and Minority Interest | **** | 27671.63 | **** | **** | 26961.10 | **** | **** | 25573.39 | **** | **** | 102141.45 | **** | **** | 96242.05 | **** | |||
| 3 | Segment Assets | |||||||||||||||||
| a) | Treasury | 1149929.44 | 956133.04 | 991874.12 | 1149929.44 | 991874.12 | ||||||||||||
| b) | Retail Banking: | 1580887.11 | 1540545.07 | 1533890.27 | 1580887.11 | 1533890.27 | ||||||||||||
| (i) Digital Banking* | 138.04 | 116.89 | 81.15 | 138.04 | 81.15 | |||||||||||||
| (ii) Non Digital Banking | 1580749.07 | 1540428.18 | 1533809.12 | 1580749.07 | 1533809.12 | |||||||||||||
| c) | Wholesale Banking | 1499816.13 | 1457970.60 | 1247937.97 | 1499816.13 | 1247937.97 | ||||||||||||
| d) | Other Banking Operations | 112867.13 | 111587.23 | 112358.81 | 112867.13 | 112358.81 | ||||||||||||
| e) | Insurance Business** | 414400.04 | 413886.14 | 372256.74 | 414400.04 | 372256.74 | ||||||||||||
| f) | Others^ | 128754.48 | 123161.90 | 109961.74 | 128754.48 | 109961.74 | ||||||||||||
| g) | Unallocated | 21386.51 | 22751.33 | 24137.77 | 21386.51 | 24137.77 | ||||||||||||
| Total | **** | 4908040.84 | **** | **** | 4626035.31 | **** | **** | 4392417.42 | **** | **** | 4908040.84 | **** | **** | 4392417.42 | **** | |||
| 4 | Segment Liabilities*** | |||||||||||||||||
| a) | Treasury | 98273.66 | 99276.09 | 83340.18 | 98273.66 | 83340.18 | ||||||||||||
| b) | Retail Banking: | 2528789.64 | 2416164.68 | 2312515.85 | 2528789.64 | 2312515.85 | ||||||||||||
| (i) Digital Banking* | 147.09 | 124.42 | 86.16 | 147.09 | 86.16 | |||||||||||||
| (ii) Non Digital Banking | 2528642.55 | 2416040.26 | 2312429.69 | 2528642.55 | 2312429.69 | |||||||||||||
| c) | Wholesale Banking | 1130276.17 | 988303.80 | 956136.34 | 1130276.17 | 956136.34 | ||||||||||||
| d) | Other Banking Operations | 3997.87 | 3956.36 | 8513.18 | 3997.87 | 8513.18 | ||||||||||||
| e) | Insurance Business** | 398573.63 | 396618.81 | 358568.57 | 398573.63 | 358568.57 | ||||||||||||
| f) | Others^ | 99037.36 | 96077.12 | 86926.10 | 99037.36 | 86926.10 | ||||||||||||
| g) | Unallocated | 40648.08 | 38831.40 | 48268.77 | 40648.08 | 48268.77 | ||||||||||||
| Total | **** | 4299596.41 | **** | **** | 4039228.26 | **** | **** | 3854268.99 | **** | **** | 4299596.41 | **** | **** | 3854268.99 | **** | |||
| 5 | Capital, Employees stock options outstanding, Reserves and Minority Interest | 608444.43 | 586807.05 | 538148.43 | 608444.43 | 538148.43 | ||||||||||||
| 6 | Total (4)+(5) | **** | 4908040.84 | **** | **** | 4626035.31 | **** | **** | 4392417.42 | **** | **** | 4908040.84 | **** | **** | 4392417.42 | **** | ||
All values are in Indian Rupees.
*Information about Digital Banking Segment reported as a sub-segment of RetailBanking Segment is related to Digital Banking Units of the Bank.
** Includes the operations of HDFC Life Insurance Company Limited (consolidated)(“HDFC Life”) and HDFC ERGO General Insurance Company Limited (“HDFC Ergo”).
*** Segment Results and Liabilities for yearended March 31, 2026 are after considering the impact of floating provisions in the respective segments.
^ Includes the operations of theconsolidated entities of the Bank, not covered in any of the above segments.
Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI. The Segment Assets and Segment Liabilities exclude transfers between segments and are transfer priced on a gross basis.
Notes :
| 1 | Consolidated statement of Assets and Liabilities is given below: | |||||||
|---|---|---|---|---|---|---|---|---|
| ( in crore) | ||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | |
| As at31.03.2026 | As at31.03.2025 | |||||||
| Particulars | Audited | Audited | ||||||
| CAPITAL AND LIABILITIES | ||||||||
| Capital | 1539.34 | 765.22 | ||||||
| Employees stock options outstanding | 4545.11 | 3805.19 | ||||||
| Reserves and surplus | 579975.02 | 517218.98 | ||||||
| Minority interest | 22384.96 | 16359.04 | ||||||
| Deposits | 3099638.29 | 2710898.23 | ||||||
| Borrowings | 588484.55 | 634605.57 | ||||||
| Other liabilities and provisions | 252977.53 | 188163.66 | ||||||
| Policyholders’ funds | 358496.04 | 320601.53 | ||||||
| Total | **** | 4908040.84 | **** | **** | 4392417.42 | **** | ||
| ASSETS | ||||||||
| Cash and balances with Reserve Bank of India | 200707.11 | 144390.25 | ||||||
| Balances with banks and money at call and short notice | 111218.94 | 105557.65 | ||||||
| Investments | 1280216.29 | 1186472.89 | ||||||
| Advances | 3050783.23 | 2724938.16 | ||||||
| Fixed assets | 16491.59 | 15257.94 | ||||||
| Other assets | 248623.68 | 215800.53 | ||||||
| Total | **** | 4908040.84 | **** | **** | 4392417.42 | **** | ||
All values are in Indian Rupees.
| 2 | Consolidated statement of Cashflows is given below: | ||||||
|---|---|---|---|---|---|---|---|
| ( in crore) | |||||||
| --- | --- | --- | --- | --- | --- | --- | |
| Year ended | Year ended | ||||||
| 31.03.2026 | 31.03.2025 | ||||||
| Particulars | Audited | Audited | |||||
| Cash flows from operating activities: | |||||||
| Consolidated profit after tax and minority interest | 76025.97 | 70792.25 | |||||
| Add: Provision for income tax | 22921.99 | 22801.88 | |||||
| Consolidated profit before income tax and after minority interest | 98947.96 | 93594.13 | |||||
| Adjustment for: | |||||||
| Depreciation on fixed assets | 4194.90 | 3805.23 | |||||
| Loss on revaluation of investments | 7739.96 | 3909.10 | |||||
| Amortisation of premium on investments | 986.17 | 87.07 | |||||
| Profit on sale of fixed assets | (207.91 | ) | (22.03 | ) | |||
| (Profit) / loss on sale of investment in subsidiary | (7000.27 | ) | 8.00 | ||||
| Provision / charge for non performing assets | 14445.98 | 15385.24 | |||||
| Floating provisions | 9000.00 | — | |||||
| Provision / (write-back) for standard assets and contingencies | 3210.24 | (1210.63 | ) | ||||
| Employee stock options / units expense | 2228.30 | 2086.05 | |||||
| **** | 133545.33 | **** | **** | 117642.16 | **** | ||
| Adjustments for: | |||||||
| Increase in investments | (102572.73 | ) | (180362.67 | ) | |||
| Increase in advances | (340270.74 | ) | (169918.22 | ) | |||
| Increase in deposits | 388740.06 | 334010.95 | |||||
| Increase in other assets | (29678.54 | ) | (10829.67 | ) | |||
| Increase in other liabilities and provisions | 52338.92 | 13117.98 | |||||
| Increase in policyholders’ funds | 34060.45 | 43289.99 | |||||
| **** | 136162.75 | **** | **** | 146950.52 | **** | ||
| Direct taxes paid (net of refunds) | (22656.37 | ) | (19708.68 | ) | |||
| Net cash flows from operating activities | **** | 113506.38 | **** | **** | 127241.84 | **** | |
| Cash flows from investing activities: | |||||||
| Purchase of fixed assets | (3889.97 | ) | (4075.89 | ) | |||
| Proceeds from sale of fixed assets | 527.56 | 100.72 | |||||
| Proceeds from sale of investment in subsidiary (net of expenses) | 9806.00 | 192.00 | |||||
| Investment in subsidiaries | (80.87 | ) | (67.47 | ) | |||
| Net cash flow from / (used in) investing activities | **** | 6362.72 | **** | **** | (3850.64 | ) | |
| Cash flows from financing activities: | |||||||
| Increase in minority interest (including issue of ESOPs by subsidiaries) | 2331.21 | 2382.88 | |||||
| Proceeds from issue of share capital | 5108.50 | 6346.50 | |||||
| Proceeds from issue of shares through subsidiary IPO (net of issue expenses) | 2456.61 | — | |||||
| Proceeds from issue of Tier 1 and Tier 2 capital instruments | 700.00 | 1182.00 | |||||
| Repayments of Tier 1 and Tier 2 capital instruments | — | (500.00 | ) | ||||
| Repayments from other borrowings (net) | (48895.19 | ) | (97062.73 | ) | |||
| Dividend paid during the year | (20705.98 | ) | (14826.19 | ) | |||
| Net cash flow used in financing activities | **** | (59004.85 | ) | **** | (102477.54 | ) | |
| Effect of fluctuation in foreign currency translation reserve | 1113.90 | 199.73 | |||||
| Net increase in cash and cash equivalents | **** | 61978.15 | **** | **** | 21113.39 | **** | |
| Cash and cash equivalents at the beginning of the year | **** | 249947.90 | **** | **** | 228834.51 | **** | |
| Cash and cash equivalents at the end of the year | **** | 311926.05 | **** | **** | 249947.90 | **** |
All values are in Indian Rupees.
Cash and cash equivalents includes Cash and balances with Reserve Bank of India and Balances withbanks and money at call and short notice.
| 3 | The above financial results represent the consolidated financial results of HDFC Bank Limited and its<br>subsidiaries including Employee Welfare Trust (‘EWT’) which is consolidated as a subsidiary (together referred to as the “Group” herein). These financial results have been approved by the Board of Directors of the Bank at its<br>meeting held on April 18, 2026. The financial results for the year ended March 31, 2026 have been subjected to an audit by the joint statutory auditors of the Bank viz. Batliboi & Purohit, Chartered Accountants and B S<br>R & Co. LLP, Chartered Accountants. The financial results for the year ended March 31, 2025 were audited by the Bank’s joint statutory auditors - Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit,<br>Chartered Accountants. | |||
|---|---|---|---|---|
| 4 | These financial results have been prepared in accordance with the recognition and measurement principles laid<br>down in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (“the<br>RBI”) from time to time, the Insurance Regulatory and Development Authority of India (“IRDAI”) to the extent applicable for insurance entities and other accounting principles generally accepted in India and these financial results<br>are in compliance with the presentation and disclosure requirements of the Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015<br>(“SEBI Regulations”) as amended including relevant circulars issued by the SEBI from time to time, to the extent applicable. | |||
| --- | --- | |||
| 5 | The Group has applied significant accounting policies in the preparation of these consolidated financial<br>results consistent with those followed in the annual consolidated financial statements. Any relevant circular / direction issued by the RBI and other regulator(s) is implemented prospectively when it becomes applicable, unless specifically required<br>under that circular / direction. | |||
| --- | --- | |||
| 6 | The figures of the last quarter in each of the financial years are the balancing figures between audited<br>figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the respective financial year. | |||
| --- | --- | |||
| 7 | During the year ended March 31, 2026, the shareholders of the Bank have approved, through postal ballot,<br>the issuance of bonus shares, in the proportion of 1:1, i.e. 1 (One) bonus equity share of ₹ 1/- each for every 1 (One) fully<br>paid-up equity share held as on the record date. Accordingly, the Bank has allotted 7,67,70,39,761 equity shares as bonus shares on August 28, 2025 by utilisation of share premium. All shares and per<br>share information in the financial results reflect the effect of bonus shares issuance retrospectively. | |||
| --- | --- | |||
| 8 | During the quarter and year ended March 31, 2026, the Bank has allotted 87,91,112 and 6,41,06,893 equity<br>shares respectively, pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme. | |||
| --- | --- | |||
| 9 | During the year ended March 31, 2026, the Bank has made a floating provision of ₹ 9,000.00 crore in line with the Board approved policy. | |||
| --- | --- | |||
| 10 | On June 25, 2025, the Bank’s subsidiary company, HDB Financial Services Limited<br>(“HDBFS”) launched its initial public offering (“IPO”), comprised of a fresh issuance of equity shares aggregating to ₹ 2,500.00 crore and<br>an offer for sale (“OFS”) of equity shares by the Bank, aggregating to ₹ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares<br>of ₹ 10/- each of HDBFS at ₹ 740/- per share, for a consideration<br>aggregating to ₹ 10,000.00 crore. In the Consolidated Financials, profit on sale of investment is considered as the difference between the sale consideration and<br>the Bank’s share in the carrying amount of HDBFS’s net assets (to the extent of sale), as of the date of sale. Consequently, the net gain to the Bank in the Consolidated Financials, on sale of shares under the OFS is ₹ 7,000.27 crore (before tax and net of IPO related expenses) during the year ended March 31, 2026. | |||
| --- | --- | |||
| 11 | On November 21, 2025, the Government of India notified four Labour Codes - the Code on Wages, 2019, the<br>Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020, collectively referred to as the ‘New Labour Codes’, consolidating 29 existing labour laws. The<br>Ministry of Labour & Employment published draft Central Rules and FAQs on December 30, 2025, to facilitate assessment of the financial impact arising from these regulatory changes. Accordingly, the Group has recognised an estimated<br>incremental impact of ₹ 1,037.28 crore under ‘Employees cost’ in the Profit and Loss Account during the quarter ended December 31, 2025 and year<br>ended March 31, 2026, considering best information available. The Group continues to monitor the finalisation of Central and State Rules and clarifications from the Government on the New Labour Codes and would provide appropriate accounting<br>effect on the basis of such developments, as needed. | |||
| --- | --- | |||
| 12 | Other income includes commission income from non-fund based banking<br>activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, and recoveries from accounts previously written off. | |||
| --- | --- | |||
| 13 | As intimated to the Stock Exchanges on September 26, 2025, the Bank’s branch at the Dubai<br>International Financial Centre (“DIFC Branch”) received a decision notice dated September 25, 2025 from the Dubai Financial Services Authority (“DFSA”), prohibiting, amongst other things, the branch from soliciting or<br>conducting business with new clients for specified financial services. The prohibition does not affect servicing of existing customers and will remain in place until otherwise amended or revoked in writing by DFSA. The Bank is taking necessary steps<br>to comply with the directives in the above-referred notice. The business undertaken at the DIFC Branch is not material to the Bank’s operations or its financial position and accordingly no material impact is expected with respect to the<br>overall operations or financial position of the Bank. | |||
| --- | --- | |||
| 14 | As intimated to the Stock Exchanges on March 24, 2026, the Board of Directors of the Bank approved the<br>appointment of external law firms (domestic and international) to conduct a review related to the resignation letter of the Bank’s former Part-time Chairman and Independent Director, Mr. Atanu Chakraborty. The Bank does not expect any<br>material impact on the financial statements as of and for the year ended March 31, 2026, arising from the external law firms’ review, which is currently in progress. The Bank continues to be committed to corporate governance standards and<br>remains adequately capitalised in accordance with the regulatory requirements. | |||
| --- | --- | |||
| 15 | At its meeting held on April 16, 2026, the Board of Directors of the Bank approved an investment of up to ₹ 1,000.00 crore in the proposed preferential issue of equity shares by HDFC Life Insurance Company Limited, a subsidiary of the Bank, in one or more tranches. The<br>investment will be made in accordance with applicable SEBI ICDR Regulations and is subject to necessary approvals, including from the Reserve Bank of India. | |||
| --- | --- | |||
| 16 | In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including<br>leverage ratio, liquidity coverage ratio and net stable funding ratio under the Basel III Framework. These disclosures would be available on the Bank’s website at the following link:<br>https://www.hdfc.bank.in/about-us/regulatory-disclosures. The disclosures have not been audited by the statutory auditors. | |||
| --- | --- | |||
| 17 | Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current<br>period’s classification. | |||
| --- | --- | |||
| 18 | ₹ 10 million = ₹ 1 crore | |||
| --- | --- | |||
| Sashidhar Jagdishan | ||||
| --- | --- | --- | ||
| Place: Mumbai | Managing Director | |||
| Date: April 18, 2026 | DIN-08614396 | |||
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 | ||
| --- | --- | --- | --- | --- |
HDFC Bank Limited
FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and year ended March 31, 2026, at its meeting held in Mumbai on Saturday, April 18, 2026. The accounts have been subjected to an audit by the statutory auditors of the Bank.
STANDALONEFINANCIAL RESULTS:
Summary for the Financial Year ended March 31, 2026
Net revenues (net interest income plus other income) for the year ended March 31, 2026 were ₹ 1,912.2 billion, as against ₹ 1,683.0 billion for the year ended March 31, 2025. Profit after tax for the year ended March 31, 2026 was ₹ 746.7 billion, up by 10.9% over the corresponding year ended March 31, 2025.
Profit & Loss Account: Quarter ended March 31, 2026
The Bank’s net revenue grew by 5.0% to ₹ 462.8 billion for the quarter ended March 31, 2026 from ₹ 440.9 billion for the quarter ended March 31, 2025.
Net interest income (interest earned less interest expended) for the quarter ended March 31, 2026 grew by 3.2% to ₹ 330.8 billion from ₹ 320.7 billion for the quarter ended March 31, 2025. Net interest margin was at 3.38% on total assets, and 3.53% based on interest earning assets.
Other income (non-interest revenue) for the quarter ended March 31, 2026 was ₹ 132.0 billion. The four components of other income for the quarter ended March 31, 2026 were fees & commissions of ₹ 92.2 billion (₹ 85.3 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 14.9 billion (₹ 14.4 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 8.2 billion (₹ 3.9 billion in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 16.7 billion (₹ 16.7 billion in the corresponding quarter of the previous year).
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 |
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Operating expenses for the quarter ended March 31, 2026 were ₹ 184.8 billion, as against ₹ 175.6 billion during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 39.9%.
Provisions and contingencies for the quarter ended March 31, 2026 were ₹ 26.1 billion. The total credit cost ratio was at 0.35% for the quarter ended March 31, 2026.
Profit before tax (PBT) for the quarter ended March 31, 2026 was at ₹ 251.9 billion. Profit after tax (PAT) for the quarter was at ₹ 192.2 billion, a growth of 9.1% over the quarter ended March 31, 2025.
Balance Sheet: As of March 31, 2026
Total balance sheet size as of March 31, 2026 was ₹ 43,649 billion as against ₹ 39,102 billion as of March 31, 2025.
The Bank’s average deposits were ₹ 28,511 billion for the March 2026 quarter, a growth of 12.8% over ₹ 25,280 billion for the March 2025 quarter, and 3.6% over ₹ 27,524 billion for the December 2025 quarter.
The Bank’s average CASA deposits were ₹ 9,184 billion for the March 2026 quarter, a growth of 10.8% over ₹ 8,289 billion for the March 2025 quarter, and 2.2% over ₹ 8,984 billion for the December 2025 quarter.
Total EOP Deposits were at ₹ 31,053 billion as of March 31, 2026, an increase of 14.4% over March 31, 2025. CASA deposits grew by 12.3% with savings account deposits at ₹ 7,058 billion and current account deposits at ₹ 3,545 billion. Time deposits were at ₹ 20,450 billion as of March 31, 2026, an increase of 15.5% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 34.1% of total deposits as of March 31, 2026.
The Bank’s average advances under management, grossing up for transfers through inter-bank participation certificates, bills rediscounted and securitisation / assignment were ₹ 29,644 billion for the March 2026 quarter, a growth of 10.0% over ₹ 26,955 billion for the March 2025 quarter, and a growth of 3.5% over ₹ 28,641 billion for the December 2025 quarter.
Gross advances were at ₹ 29,600 billion as of March 31, 2026, an increase of 12.0% over March 31, 2025. Advances under management grew by 10.2% over March 31, 2025. Retail loans grew by 6.5%, small and mid-market enterprises loans grew by 17.2% and corporate and other wholesale loans grew by 13.0%. Overseas advances constituted 1.6% of total advances.
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 |
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Capital Adequacy:
The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.7% as on March 31, 2026 (19.6% as on March 31, 2025) as against a regulatory requirement of 11.9%. Tier 1 CAR was at 17.7% and Common Equity Tier 1 Capital ratio was at 17.3% as of March 31, 2026. Risk-weighted Assets were at ₹ 29,741 billion.
DIVIDEND
The Bank paid a special interim dividend of ₹ 2.50 per equity share of ₹ 1 each (adjusted for bonus) on August 11, 2025. The Board of Directors have now recommended a final dividend of ₹ 13.0 per equity share of ₹ 1 each for the year ended March 31, 2026. This would be subject to approval of the shareholders at the forthcoming annual general meeting. With this, the total dividend for the year ended March 31, 2026 would be ₹ 15.5 per equity share of ₹ 1 each.
NETWORK
As of March 31, 2026, the Bank’s distribution network was at 9,689 branches and 21,172 ATMs across 4,175 cities / towns as against 9,455 branches and 21,139 ATMs across 4,150 cities / towns as of March 31, 2025. 50% of the branches are in semi-urban and rural areas. In addition, the Bank has 14,400 business correspondents, which are primarily manned by Common Service Centres (CSC). The number of employees were at 2,11,178 as of March 31, 2026 (as against 2,14,521 as of March 31, 2025).
ASSET QUALITY
Gross non-performing assets were at 1.15% of gross advances as on March 31, 2026 (0.91% excluding NPAs in the agricultural segment), as against 1.24% as on December 31, 2025 (0.97% excluding NPAs in the agricultural segment), and 1.33% as on March 31, 2025 (1.13% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.38% of net advances as on March 31, 2026.
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 |
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KEY SUBSIDIARIES
Amongst the Bank’s key subsidiaries, HDFC Life Insurance Company Ltd and HDFC ERGO General Insurance Company Ltd prepare their financial results in accordance with Indian GAAP and other subsidiaries do so in accordance with the notified Indian Accounting Standards (‘Ind-AS’). The financial numbers of the subsidiaries mentioned herein below are in accordance with the accounting standards used in their standalone reporting under the applicable GAAP.
HDB Financial Services Ltd (HDBFSL), is a non-deposit taking NBFC in which the Bank holds a 74.1% stake. For the quarter ended March 31, 2026, HDBFSL’s net revenue was at ₹ 30.6 billion. Profit after tax for the quarter ended March 31, 2026 was ₹ 7.5 billion compared to ₹ 5.3 billion for the quarter ended March 31, 2025, a growth of 41.4%. Profit after tax for the year ended March 31, 2026 was ₹ 25.4 billion. The total loan book was ₹ 1,185 billion as on March 31, 2026. Stage 3 loans were at 2.44% of gross loans. Total CAR was at 21.4% with Tier-I CAR at 17.1%.
HDFC Life Insurance Company Ltd (HDFC Life), in which the Bank holds a 50.2% stake, is a leading life insurance solutions provider. Profit after tax for the quarter ended March 31, 2026 was ₹ 5.0 billion compared to ₹ 4.8 billion for the quarter ended March 31, 2025. Profit after tax for the year ended March 31, 2026 was ₹ 19.1 billion.
HDFC ERGO GeneralInsurance Company Ltd (HDFC ERGO), in which the Bank holds a 50.3% stake, offers a range of general insurance products. Profit after tax for the quarter ended March 31, 2026 was ₹ 1.6 billion compared to ₹ 0.7 billion for the quarter ended March 31, 2025. Profit after tax for the year ended March 31, 2026 was ₹ 8.1 billion.
HDFC Asset Management Company Ltd (HDFC AMC), in which the Bank holds a 52.4% stake, is the Investment Manager to HDFC Mutual Fund, and offers a comprehensive suite of savings and investment products. For the quarter ended March 31, 2026, HDFC AMC’s Quarterly Average Assets Under Management were approximately ₹ 9,275 billion. Profit after tax for the quarter ended March 31, 2026 was ₹ 6.2 billion compared to ₹ 6.4 billion for the quarter ended March 31, 2025. Profit after tax for the year ended March 31, 2026 was ₹ 28.6 billion.
HDFC Securities Ltd(HSL), in which the Bank holds a 94.0% stake, is amongst the leading broking firms. For the quarter ended March 31, 2026, HSL’s total revenue was ₹ 8.5 billion. Profit after tax for the quarter ended March 31, 2026 was ₹ 2.7 billion, as against ₹ 2.5 billion for the quarter ended March 31, 2025. Profit after tax for the year ended March 31, 2026 was ₹ 9.3 billion.
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 |
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CONSOLIDATED FINANCIAL RESULTS:
The Bank’s consolidated net revenue for the year ended March 31, 2026 was ₹ 3,099.7 billion. The consolidated profit after tax for the year ended March 31, 2026 was ₹ 760.3 billion.
Note:
₹ = Indian Rupees
1 crore = 10 million
All figures and ratios are in accordance with Indian GAAP unless otherwise specified.
BSE: 500180
NSE: HDFCBANK
NYSE: HDB
We have included statements in this report which contain words or phrases such as “will”, “aim”, “will likely result”,“believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”,“objective”, “goal”, “project”, “should”, “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements”. Actual results maydiffer materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the marketacceptance of and demand for various banking services, our ability to realize all of the anticipated benefits of the Transaction, future levels of our non-performing/ impaired assets, our growth and expansion,the adequacy of our management of credit risks and our provision/allowance for credit and investment losses, technological changes, the adequacy of our information technology and telecommunication systems, including against cybersecurity threats,negative publicity, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the futureimpact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short term funding sources and ourexposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact onnet income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, butare not limited to: the war in Iran, involving the United States, Israel and some neighbouring countries, and the geopolitical conflict between Israel and Hamas, which have complicated the geopolitical landscape and contributed to significantvolatility in oil and energy prices; geopolitical tensions between India and Pakistan, with a lingering risk of sudden escalation in military conflict; geopolitical tensions between India and China; general economic and political conditions;instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks bythe United States, a United States-led coalition or any other country, such as the joint strike launched by the United States and the United Kingdom in Yemen following the Houthis group’s attack oninternational ships in the Red Sea; the ongoing war between Russia and Ukraine; military armament or social unrest in any part of India; the monetary and interest rate policies of the RBI; natural calamities, pandemics, inflation,deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally; compliance with and changes in Indian and foreign laws andregulations, including tax, accounting, banking regulations, insurance regulations and securities regulations; changes in competition and the pricing environment in India; regional or general changes in asset valuations; and uncertainties arisingout of foreign trade and tariff policies followed by major global economies, such as the United States and China.
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013
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NEWS RELEASE | HDFC BANK LIMITED,<br> <br>Sandoz House, Shivsagar<br>Estate,<br> <br>Dr. Annie Besant Road, Worli,<br> <br>Mumbai - 400<br>018.<br> <br>CIN: L65920MH1994PLC080618 |
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For more information please log on to: www.hdfc.bank.in
For media queries please contact:
Madhu Chhibber
Head - Corporate Communications
HDFC Bank Ltd., Mumbai.
Mobile: +91 9833775515
For investor queries please contact:
Investor Relations
HDFC Bank Ltd., Mumbai.
Tel: 91 - 22 - 6652 1054 (D) / 6652 1000 (B)
Regd. Office: HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400 013