HDFC Bank posts profit of Rs 20,700 crore as deputy MD resigns

HDFC Bank reported a consolidated net profit of Rs 20,700 crore for the September quarter of the 2026-27 financial year. This is a 5.55 percent increase compared to the net profit of Rs 19,611 crore recorded during the same period in the previous financial year. On a standalone basis, the net profit grew by 4.7 percent to reach Rs 19,510 crore.

Financials And Assets

Total income for the bank rose from Rs 91,040 crore to Rs 97,258 crore, while total expenses increased from Rs 63,117 crore to Rs 67,774 crore. Provisions went up from Rs 3,500 crore to Rs 3,573.62 crore. The bank stated that excluding treasury performance, its net profit increased by 12.6 percent. The gross non-performing assets ratio improved quarter-on-quarter from 1.17 percent to 1.11 percent, down from 1.24 percent a year ago. The bank's capital adequacy ratio stood at 18.9 percent as of September 30, 2026, compared to 20 percent in the corresponding period of the previous financial year.

Leadership Changes

HDFC Bank Deputy Managing Director Kaizad Bharucha has resigned from his position. The bank informed stock exchanges that he will step down from his office on December 31. Bharucha has been working with the bank since 1995. The board has accepted his resignation and sent it for approval to the Reserve Bank of India. Reports indicate that his resignation follows the appointment of Anoop Bagchi, brought in from the ICICI Group, as an MD and CEO of HDFC Bank, with Bharucha having previously been in the race for the top post.

Context

Banking institutions regularly evaluate their asset quality, capital buffers, and leadership structures as part of routine governance and financial reporting. Leadership transitions at senior levels often follow changes in executive appointments and strategic directions within large financial institutions.