Slide 1: Q1FY26 Earnings Presentation
Classification - Confidential Q1FY26 Earnings Presentation July 19, 2025 Classification - Confidential
Slide 2: Key performance metrics for Q1 FY26
Key performance metrics for Q1 FY26 Deposits; average YoY ↑ ₹ 3.74 tn (16.4%) ; EOP YoY ↑ ₹ 3.85 tn (16.2%) Average deposits QoQ ↑ ₹ 1.30 tn (5.1%) ; EOP QoQ ↑ ₹ 0.49 tn (1.8%) Average CASA QoQ ↑ ₹ 0.32 tn (3.8%) ; EOP QoQ ↓ ₹ 0.08 tn (0.8%) Average time deposits QoQ ↑ ₹ 0.98 tn (5.8%) ; EOP
Slide 3: Key financial parameters for Q1 FY26
STANDALONE Key financial parameters for Q1 FY26 Average deposits at ₹ 26,576 bn, Profit after tax of ₹ 182 bn, EPS ↑16.4% YoY ; ↑5.1% QoQ for the quarter ₹ 23.7 Average advances under Gross NPA at 1.40%, ex-agri management at ₹ 27,423 bn, ↑8.3% YoY ; ↑1.7% QoQ 1.14% Net interest margin (NIM) of 3.35
Slide 4: Income statement
STANDALONE Income statement P&L (₹ bn) Q1 FY25 Q4 FY25 Q1 FY26 QoQ YoY Net interest income 298.4 320.7 314.4 (2.0%) 5.4% Non-interest income 106.7 120.3 217.3 80.6% 103.7% Net revenue 405.1 441.0 531.7 20.6% 31.2% Operating expenses 166.2 175.6 174.3 (0.7%) 4.9% Provisions 26.0 31.9 144.4 352.7% 455
Slide 5: Certain transaction gains & provisions – Q1 FY26
Certain transaction gains & provisions – Q1 FY26 Reported PAT (₹ in bn) 182 Description of items (₹ in bn) Pre-Tax Post-Tax Transaction gains (HDBFS partial divestment) 91 78 Floating provisions (90) (68) Contingent provisions (17) (13) Tax credit 11 Total PAT impact 8 Adjusted for above items CTI 3
Slide 6: Abridged balance sheet
STANDALONE Abridged balance sheet Balance sheet (₹ bn) Jun'24 Mar'25 Jun'25 QoQ YoY Net Advances 24,635 26,196 26,284 88 1,649 Investments 7,088 8,364 8,967 603 1,879 Government and debt securities 6,882 8,160 8,765 605 1,883 Equity and other securities 206 204 202 (2) (4) Cash & equivalent 1,818 2,
Slide 7: Capital and liquidity metrics
Capital and liquidity metrics Capital adequacy Liquidity coverage ratio 19.8% 20.0% 19.6% 19.9% 18.8% 19.3% 17.8% 18.0% 17.7% 17.8% 16.8% 17.3% 128% 125% 124% 123% 119% 115% Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Total Capital Tier 1 Cap
Slide 8: Growth in deposits
BUSINESS GROWTH Growth in deposits Average Deposits EOP Deposits ₹ bn ₹ bn h16.4% h16.2% h5.1% h1.8% 21,836 22,831 23,540 24,528 25,280 26,576 23,798 23,791 25,001 25,638 27,147 27,641 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 8 HDFC Bank P
Slide 9: Growth in advances
BUSINESS GROWTH Growth in advances Average advances under management EOP advances under management ₹ bn ₹ bn h8.3% h8.0% h1.7% h0.3% 27,733 27,820 26,955 27,423 25,758 25,750 26,334 26,839 25,125 25,327 25,639 26,276 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Mar'24 Jun'24 Sep'24 De
Slide 10: Retail branch driving deposits
HIGH QUALITY DEPOSIT FRANCHISE Retail branch driving deposits Average Retail / Wholesale Proportion of CASA deposits ₹ bn 38% 36% 35% 34% 35% 34% 15% 15% 16% 17% 17% 18% 5,987 6,081 6,305 6,390 5,964 6,056 85% 85% 84% 83% 83% 82% 3,100 2,754 3,141 2,980 2,673 2,671 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 D
Slide 11: Mix across segments
LOAN BOOK Mix across segments Balancing growth Composition of retail assets Loans (₹ bn) Jun'24 Mar'25 Jun'25 QoQ YoY Jun’25 Retail 14,072 15,164 15,215 0.3% 8.1% 12% Mortgage 7,880 8,357 8,428 0.9% 7.0% Retail Assets 6,192 6,808 6,787 (0.3%) 9.6% 30% Small and mid-market 4,715 5,391 5,523 2.4% 17.1
Slide 12: Branch expansion and customer relationships
BUILDING FRANCHISE STRENGTH Branch expansion and customer relationships Branch network Customer base #s #mn 8,738 8,851 9,092 9,143 9,455 9,499 18% 18% 17% 17% 17% 17% 34% 34% 34% 34% 34% 34% 20% 20% 21% 21% 21% 21% 98 95 85 28% 28% 74 28% 28% 28% 28% 63 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Met
Slide 13: Net revenues
STANDALONE Net revenues Net revenue Net revenue mix ₹ bn 27% 26% 28% 27% 27% 29% 532 473 416 421 441 73% 74% 72% 73% 73% 71% 405 Q1 Jun'25* # # Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 YoY 48% 23% 9% 6% (7%) 31% Net Interest Income
Slide 14: Net interest income
STANDALONE Net interest income Net interest income Net interest margin (NIM) ₹ bn 3.46%* 3.35% 3.7% 3.6% 3.7% 3.7% 3.6% 3.5% 3.5% 3.5% 3.5% 3.4% 3.4% 3.4% 321 314 301 307 291 298 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Y
Slide 15: Yield on assets and cost of funds
STANDALONE Yield on assets and cost of funds Yield on assets and cost of funds Key Balance Sheet Mix Particulars Sep'23 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 8.4% 8.4% 8.3% 8.3% 8.3% 8.1% AUM Mix Retail 53% 55% 55% 55% 55% 55% Mortgage 29% 31% 30% 30% 30% 30% 4.9% 4.9% 4.9% 4.9% 4.9% 4.8% Retail Assets
Slide 16: Other income
STANDALONE Other income Other income Fee income mix ₹ bn 217 6% 7% 6% 6% 6% 6% 24 182 15% 17% 13% 17% 18% 18% 15 120 101 34% 35% 76 115 115 33% 34% 36% 36% 107 16 18 17 20 3 1 4 15 14 14 11 2 16 18% 14 19% 19% 18% 17% 19% 80 81 82 85 76 70 28% 26% 23% 24% 24% 22% Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec
Slide 17: Operating expenses
STANDALONE Operating expenses Operating expenses Cost efficiency ₹ bn ^ 180 174 171 176 ^ # 166 169 41.3% 41.0% 40.6% 39.8% 40.6% 39.6% 111 109 112 114 113 108 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Cost to income ratio 69* 60 60 61 62 ^ 58 2.0% 1.9% 1.9% 1.9% 1.9% 1.9% Q4 Mar'2
Slide 18: Resilient asset quality
RISK MANAGEMENT Resilient asset quality Gross NPA and Net NPA GNPA by Segment 1.4% 1.4% 1.3% 1.4% 1.3% 1.4% 1.4% 1.3% 1.2% 0.8% 0.8% 0.4% 0.5% 0.4% 0.5% 0.4% Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Mar'25 Jun'25 GNPA NNPA Retail Retail (ex-Agri) Others GNPA (ex-agri) 1.2% 1.2% 1.2% 1.1% 1.1% Stable asset
Slide 19: Movement of NPAs
RISK MANAGEMENT Movement of NPAs ₹ bn 42 (Ex-agri 114 bps) (Ex-agri 113 bps) 133 bps 90 30 140 bps (Ex-agri : 68 bn) 352 370 GNPA as on Mar'25 Slippages Upgrades & Recoveries Write offs GNPA as on Jun'25 ₹ bn (Ex-agri 119 bps) 75 50 (Ex-agri 113 bps) 142 bps 133 bps 33 (Ex-agri : 62 bn) 360 352 GNPA
Slide 20: Credit cost and stock of provisions
RISK MANAGEMENT Credit cost and stock of provisions Credit cost Stock of provisions ₹ bn 720 56 bps 106 50 bps 48 bps 608 606 607 606 42 bps 43 bps 104 105 104 108 41 bps 214 36 bps 124 124 124 124 29 bps 29 bps 29 bps 145 138 135 135 152 235 239 244 239 248 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q
Slide 21: Profitability
Profitability Standalone profit after tax Earnings per share* ₹ bn ₹ 23.0 23.7 21.7 22.1 21.9 21.3 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 176 182 165 162 168 167 EPS Standalone # bn 7.60 7.60 7.62 7.64 7.65 7.66 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Q4 Mar'
Slide 22: Stake held in key subsidiary entities – June 30, 2025
GROUP COMPANIES Stake held in key subsidiary entities – June 30, 2025 Investment No. of shares % Stake PAT of the Book value EPS (FTQ) Entity Amount outstanding held by company per share (₹) (₹ bn) by entity (mn) HDFC Bank (FTQ) (₹ bn) (₹) HDB Financial Services 29 615.5 74.19% 5.7 225.4 7.1 HDFC Li
Slide 23: Subsidiaries – Q1FY26 update – HDB Financial Services
GROUP COMPANIES Subsidiaries – Q1FY26 update – HDB Financial Services • 74.19% stake held by the Bank as of June 30, 2025 • 20.1 million customers serviced through a network of 1,771 branches across 1,166 cities/towns ‒ 1.0 million customers during Q1 FY26 • Q1FY25 performance highlights – Loan book
Slide 24: Subsidiaries – Q1FY26 update – HDFC Life Insurance
GROUP COMPANIES Subsidiaries – Q1FY26 update – HDFC Life Insurance • 50.28% stake held by the Bank as of June 30, 2025 • 249k individual policies sold and overall 11.6 mn lives insured during the quarter • Individual weighted received premium market share of 17.5% for Q1FY26 • Q1FY26 performance hig
Slide 25: Subsidiaries – Q1FY26 update – HDFC AMC
GROUP COMPANIES Subsidiaries – Q1FY26 update – HDFC AMC • 52.44% stake held by the Bank as of June 30, 2025 • Quarterly average AUM of ₹ 8.3 trillion; 11.5% market share • 64% of quarterly average AUM is equity oriented with 60% in actively managed equity oriented • 13.7 million unique investors; 25
Slide 26: Subsidiaries – Q1FY26 update – HDFC ERGO General Insurance
GROUP COMPANIES Subsidiaries – Q1FY26 update – HDFC ERGO General Insurance • 50.33% stake held by the Bank as of June 30, 2025 • Q1FY26 Gross direct premium market share of 4.3% in overall industry and 6.7% amongst private sector insurers • Retail mix in business 49% for the quarter ended June 30, 2
Slide 27: Subsidiaries – Q1FY26 update – HDFC Securities Ltd
GROUP COMPANIES Subsidiaries – Q1FY26 update – HDFC Securities Ltd • 94.38% stake held by the Bank as of June 30, 2025 • 7.1 million customers serviced through a network of 131 branches across 105 cities • Around 95% of the active clients utilized the services offered through company’s digital platf
Slide 28: Consolidated income statement
CONSOLIDATED Consolidated income statement P&L (₹ bn) Q1 FY25 Q4 FY25 Q1 FY26 QoQ YoY Net revenue 724.2 732.8 853.5 16.5% 17.8% Operating expenses 465.5 439.0 491.8 12.0% 5.7% Provisions 31.4 38.1 153.1 301.9% 387.7% Profit before tax 227.3 255.7 208.5 (18.5%) (8.3%) Consolidated profit 164.7 188.4
Slide 29: ESG at HDFC Bank
ESG at HDFC Bank Environmental Social Governance Ratings & Indices • Target to be carbon neutral by • Leading responsibly • Commitment to principles of FTSE4GOOD FY32 • Taking banking to the independence, accountability, Emerging • Board approved ESG Risk unbanked; responsibility, transparency Marke
Slide 30: Balance sheet and capital productivity
COMPOUNDING VALUE Balance sheet and capital productivity Growth in assets and RoA 40,000 2.0 1.9 1.9 1.9 1.9 2.0 2.0 2.0 2.1 2.0 1.9 1.9 30,000 20,000 10,000 - FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Q1 Jun'25 Assets RoA % Healthy capital position and RoE 20.4 18.0 18.0 18.2 17.4 20.0
Slide 31: Book value performance
COMPOUNDING VALUE Book value performance Standalone book value per share ₹ 682 655 603 607 632 556 580 502 525 534 456 480 Q2 Sep'22 Q3 Dec'22 Q4 Mar'23 Q1 Jun'23 Q2 Sep'23 Q3 Dec'23 Q4 Mar'24 Q1 Jun'24 Q2 Sep'24 Q3 Dec'24 Q4 Mar'25 Q1 Jun'25 Consolidated book value per share ₹ 682 708 625 631 657 5
Slide 32: APPENDIX
APPENDIX 32 HDFC Bank Presentation Q1 FY2026
Slide 33: Industry-wise distribution
CONSOLIDATED Industry-wise distribution* Total Total Industry (₹ bn) Outstanding As a (%) Industry (₹ bn) Outstanding As a (%) (FB + NFB) (FB + NFB) Consumer Loans 10,032 30.8% Capital Market Intermediaries 356 1.1% NBFC 1,594 4.9% Telecom 332 1.0% Retail Trade 1,148 3.5% Housing Finance Companies 3
Slide 34: Top 20 borrower exposure as a % of total exposure
Top 20 borrower exposure as a % of total exposure 11.0% 10.5% 10.3% 9.8% 9.6% 9.7% Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 34 HDFC Bank Presentation Q1 FY2026
Slide 35: Risk Weighted Assets
Risk Weighted Assets RWA to Total Assets Risk Weight Density* 64% 65% 65% 69% 69% 64% 68% 68% 63% 63% 67% 67% Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 Mar'24 Jun'24 Sep'24 Dec'24 Mar'25 Jun'25 35 HDFC Bank Presentation Q1 FY2026 * Risk Weight Density = RWA / (FB + NFB (post CCF))
Slide 36: Corporate rating mix – June’25
Corporate rating mix – June’25 Rating mix % of externally rated wholesale book (corporate & mid corporate) 74.4% 12.2% 7.5% 5.9% AA and above A BBB BB and below 36 HDFC Bank Presentation Q1 FY2026 Certain figures reported above will not add-up due to rounding
Slide 37: Deposits and advances trend
STANDALONE Deposits and advances trend ₹ tn ₹ tn 28% 29% 27% 30% 25% 16% 16% 28% 26% 16% 14% 16% 21% 15% 16% 24% 15% 18% 17% 19% 19% 20% 21% 19% 24.5 25.3 26.6 25.0 25.6 27.1 27.6 22.8 23.5 21.7 22.1 23.8 23.8 20.4 21.2 21.8 18.8 19.1 15.9 16.4 17.2 18.2 16.7 17.3 Average Deposits YoY growth EOP Dep
Slide 38: Safe harbour statement
Safe harbour statement 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”