CEO Re-Appointment In Due Course, Ex-Chairman's Resignation Under Legal Review: HDFC Bank

HDFC Bank's numeration and remuneration committee (NEC) is fully seized with the matter of re-appointment of MD, CEO Sashidhar Jagdishan and will take a final call in this regard in due-course, the bank's deputy MD Kaizad Bharucha said in response to a query to NDTV Profit. Jagdishan's current tenure as bank chief ends in October 2026.

Jagdishan, meanwhile, also said that the bank's board is rooting for interim chairman Keki Mistry to take over as full time chairman, following former chairman Atanu Chakraborty's abrupt resignation last month. The bank's externally appointed firm is assessing the resignation letter filed by Chakraborty and will release the summary of report in due course, Jagdishan said.

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Regarding the allegations of mid-selling of AT-1 bonds by the bank's Dubai branch, Jagdishan said the bank did not sell such bonds to retail customers and that the inventors were aware of the risks associated with the high yielding paper. HDFC Bank said its net interest margin will stay range-bound in near term and have a stable to positive trajectory over a long term period.

HDFC Bank Q4 Results

HDFC Bank announced its January-March quarter results for fiscal 2025-26 (Q4FY26) on Saturday, April 18, reporting a rise of 9.1% in standalone net profit of Rs 19,221 crore, compared to Rs 17,616.14 crore compared to the corresponding period last year. The country's largest private sector bank reported a strong quarter helped by a pick-up in lending to consumers, though lending margins remained weak. HDFC Bank declared a final dividend of Rs 13 per share for FY26.

ALSO READ: HDFC Bank Q4 Results: Net Profit Rises 9.1% To Rs 19,221 Crore, Dividend Declared

Net interest income - the difference between interest earned on loans and interest paid on deposits - rose 3.2% to Rs 33,082 crore in the March quarter, compared to Rs 32,066 crore in the year-ago period. The bank approved raising Rs 60,000 crore via debt. On the asset quality front, the gross non-performing assets ratio as a share of total loans improved to 1.15% from 1.24% at the end of December quarter and 1.33% in the year-ago period.

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