Stories
HDFC Bank Soars: Advances, Deposits Jump Ahead of Anup Bagchi's CEO Takeover
M
Moneycontrol•05-10-2026, 08:20
HDFC Bank Soars: Advances, Deposits Jump Ahead of Anup Bagchi's CEO Takeover
- •HDFC Bank reported strong growth in loans and deposits for the September quarter, with gross advances rising 16.3% year-on-year to Rs 32,195 billion and deposits growing 18.8% to Rs 33,275 billion.
- •Anup Bagchi was appointed HDFC Bank's next MD and CEO, taking charge on October 27 for a three-year term, succeeding Sashidhar Jagdishan.
- •Average advances under management grew 14% to Rs 31,872 billion, and average deposits rose 16.8% to Rs 31,665 billion during the September quarter.
- •CASA deposits increased 10.8% year-on-year to Rs 10,520 billion, while time deposits surged 22.8% to Rs 22,755 billion by the end of September.
- •The bank mobilized $11.5 billion in foreign currency deposits under RBI's swap facility and issued $2.5 billion in US dollar-denominated senior unsecured bonds.
Key Questions Answered
As of September 30, 2026, HDFC Bank's gross advances rose by 16.3% year-on-year to Rs 32,195 billion, while period-end deposits grew by 18.8% to approximately Rs 33,275 billion.
Anup Bagchi was appointed as HDFC Bank's next MD and CEO on October 1, 2026, and will take charge on October 27 for a three-year term. He succeeds Sashidhar Jagdishan, whose term concludes on October 26.
HDFC Bank mobilized foreign currency deposits equivalent to $11.5 billion under the Reserve Bank of India's swap facility for FCNR(B) deposits. Additionally, overseas branches extended $5.7 billion in loan facilities against these deposits.
