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ICICI Securities Report
HDFC Bank Ltd.'s FY22 annual report is once again themed on ‘leading responsibly', focusing on reimagining the future with technology and a service first culture. The Chief Executive Officer Sashidhar Jagdishan's message is similar to what was articulated during the analyst day on May 31, 2022 highlighting why this is an opportune time to fructify the merger given housing loan growth opportunity with deeper penetration, regulatory convergence, conducive market development, pricing convergence, portfolio rebalancing, enhanced cross-sell, etc.
Annual report states:
growth runway is huge; potentially add HDFC Bank every five years. Proposed merger adds an entirely different dimension to the future.
there may not be any need to raise further funds to meet reserve requirements,
plans to nearly double its network in next three-five years by opening 1,500 to 2,000 branches every year,
bank will continue to invest in modern technology and talent.
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