HDFC Bank LimitedNSE: HDFCBANK

Financial Results for the quarter and half year ended September 30, 2026

· Issued by HDFC Bank Limited

Summary by 6ix AI

HDFC Bank reported unaudited standalone net profit of Rs. 19609.96 crore and consolidated net profit of Rs. 20700.03 crore for the quarter ended September 30, 2026 (1 crore equals 10 million). The board approved the results on October 17, 2026.

Key details

  • The results underwent a limited review, a check narrower than a full audit, by the bank's joint statutory auditors, Batliboi & Purohit and B S R & Co. LLP.
  • Standalone gross non-performing assets (loans in default) were Rs. 35809.70 crore and net non-performing assets were Rs. 11850.86 crore at September 30, 2026.
  • The standalone capital adequacy ratio, a measure of capital held against risk, was 18.87% at September 30, 2026.
  • Standalone advances (loans) stood at Rs. 3195566.06 crore at September 30, 2026.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/hdfc-bank-financial-results-for-the-quarter-and-half-year-ended-september-30-2026

Watch HDFC Bank's latest callHDFC Bank (NSE:HDFCBANK) Q1 2027 Earnings Call · Replay · Jul 18Read the transcript of HDFC Bank (NSE:HDFCBANK) Q1 2027 Earnings Call

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HDFC BANK LIMITED

CIN : L66920MHt994PLC080618

Sendoz House, Shlvsagar Estate, DI. Annie Besent Road, World, Mumbai 400 018. Webslte: hnps://https://www.Ijdfc.benk.In, Tel,: 022- 6662 1000, Fez: 022• Mg8 0738

UNAUDlTEDSTAwDVONEMNAwCIALRESULT5FORTHEOUARTBRANDHALF¥sARENDEDSEPTEMBER3O,z0z$

Quarter ended

Half year ended

Yeer ended

31.03.2026

30.09.2026

30.06.2026

30.09.2026

30.0g.2026

30.09.2026

UnaudIted

Unaudnod

Unaudfted

Unaudlted

Unaudñod

Audited

Inferost earned (a)*(b)*(c)*(d)

83426.60

79362.78

76690.70

162789.38

154160,90

307522.08

a) Imerest / discount on advances / bills

65458.33

61953,87

59264.81

127412.20

119457.45

239762.46

b) Income on Investments

15253.52

14272.21

15285.48

29525.73

30355.fi6

58945.38

c) lnlerest on balances with Reserve Bank of Indie and other

1330.90

1365.26

554.79

2696,18

1224.96

2674.70

nter-bank funds

d) Others

13 3.85

1771.42

1585.62

3155.27

3122.93

6139.54

Other Income (Refor noIe 12)

13631.02

12821.60

14350.02

26652.62

36079.85

62532.57

Total Income ‹1)*(*I

92184.38

91040.72

189442.00

190240.76

370064.66

Interest expended

48807.42

45828.83

45139.20

94636.25

91171.43

178836.OF

5

Operaling expenses (i}+(ii)

18966.76

18187.49

17977.92

37154.27

35411.76

72660.33

I) Employees cost

6774. t7

6414.83

6461.29

13189.00

12619.26

26050.15

i) Other operafing expenses

Total Expenditure {4)+(6) (excludIng provlalone and

12192.61

11772.66

11516.63

23965.27

22792.50

46610.18

6yyy4.20

64016.32

63117.12

131780.62

126683.19

261496.37

coating onclos)

Operating Proflt before provlelons and contlngenclee l3}-{6l

29483.42

28168.06

27923.TO

67661.48

sassy.ss

1‹esse.ze

Provisions (other then tax) and Contingencies (Refer note 7)

3573.62

3059.76

3500.53

6633.38

17942,16

23368,59

Exceptiona| items

10

Profit from ord]nary actJvttlea before tex (7)-{8)-(9)

26108.30

61018.10

46716.40

11

Tax Expense (Reler note 13)

6399.84

6048.58

5781.79

12448.42

8918.91

20497.40

12

38669.68

36T96.49

746?'1.29

Net Profit from ordinary actJyltlee aRer tax (10)•(11)

19609.96

19069.72

18641.28

13

E xtreordinary Ifems (net of tax expense)

14

Net Profit for the peñod (12)-{13}

19609.96

18069.72

18641.28

36796.49

15

Paid up oquity sharo capital (Face Value of ¥ 1/- each)

1541.66

1540.13

1536.37

1541.86

1536.37

1539.34

556816.45

16

Reserves excluding reveltTation reserves

17

Analytical Ratios and other dlecloeuroe:

(i) Percenlago of shares held by Government of India

Nil

Nll

Nil

Nil

Ni1

Nil

(ii) Capital Adequacy Ratio

18.8796

19.96°A

19,71°4

18.87°A

19.57°X'

(iii) Eernlngs per shere (EPS) (r) (Faco Va|ue of T 1/- each):

(a) Basic EPS before & after extraordlnary items (net of lax

12.66

12,36

12.14

25,04

2400

48.62

expense) - not ennuelized

(b) Diluled EPS before & after extraordinary ifems (not of tax expense) not ennualized

12.63

12.35

12.09

2^9S

2388

48.40

(iv) NPA Rallos:

(a) Gross NPAs

35809.70

35846.35

34289.48

35B09.70

34269.48

34061.19

(b) Net NPAS

11850,86

12357.27

11447,29

11850.B6

11447.29

11169.54

1.17°A

1.24%

1,11%

1.24%

1.15°A

1.11°4

(c) °é of Gross NPAs to Gross Advances

0.41%

0.46°4

666201.13

0.42%

0.49°A

507536.55

0.37"4

0.916

566722.23

0.42%

0.97%

507536,55

0.38°A

1.94°4

546325.46

0.37°A

0.45"4

566722.23

(d) °4 of Net NPAs to Nef Advances

  1. Return on essets (average) - not annualized

  2. Nef worlh

(vii) Oulstandlng Redeemable Preference Shares

  1. Caplfal Redemptlon Reserve

  2. Debl Equily Ratio"

0.63

0.56

0.52

0.63

052

0.53

12.73"A

10.68"#

12.73°4

11.21°4

(x) Total Debls to Total Assets"

10.68°4

10.50°4

" Total debts represents logo/ dorrowinss of he 8anfi.

MUMBAI

^ec/ Acco*

Regd. j•jm#y ; gpyg g##g Mtg., HDFC Bank Houee. Sonapatj Bapat Marg, Lower Parel tWest)• Mumbai - 400013.

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Standalone Segment information in accordance with the RBI guidelines and Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:

g In crore)

Quarter endod

Half year ended

Year ended

31.03.2026

30.09.2026

30.06.2026

30.08.2026

30.09.2026

30.09.2026

Unaudited

Unaudited

Unaudlted

Unaud]ted

Unaudltod

AudPed

1 Segment Revonuo

a) Tre esury (Refer nole 12)

19150.30

18192.38

£060R2£

37342.68

48892.56

84337.48

b)

(i) 0/gita/ Bending"

79112.16

3.89

75888.8 0

y, y9

2.62

155000,96

7.28

J5077S.TO

5.IN

30'I883.SP

TO.37

{ii} /'ion D!gi|al Banking

  • ) Who|esale Banking

79108.27

52743.87

48670.85

y5581.90

42308.37

1fi4993.68

101414.72

150770.59

87098.59

301843.14

174508.30

d) Offer Banking Operalions

9700.20

9044.03

9333.81

18744.23

18027.45

36840.96

e) Unellocated

Total

160706.63

161y96.06

14?'836.92

31£S0t6S

30479¥J0

69Y63S%

Less: Inter Segment Revenue

63448.91

59611.68

56795.20

123060.59

114553.55

£27483.60

Income from Operatlona

97267.62

9218e.30

91040.72

189442.00

190240.76

370064.66

a) Treasury (Refer note 12)

2099,17

2406. 59

4212,52

4505.76

16989.38

21142.48

b) Rotail Banking:

10521.59

104 31.32

9098.86

12480.GB

32026.72

20852.91

t§ 0/gi/a/ Bending"

o. 00

0.07

0,07

(0.64)

(j. 59)

fi,I Non Oigife/ Banking

TO131.26

20652.84

c) Wfiofesele Banking

10364.04

1262I .01

33947.98

d) Olher Banking Operations

3297.50

2795.81

2790.10

6093.31

4806.66

10d15.96

e) UnaTlocated

(57170)

(589.46)

(601. 03)

(1161.16

(11 2.41)

(2364.43)

Total Profit Before Tax

26909.80

24423.07

61018.10

46716.40

96168.6g

a) Treasury

1106606.06

1086021.85

921265.72

1106606.06

921265.72

1 149929.44

b) Retal| Banking:

1672324.39

1618976.54

1528244,81

1672324.39

1526244.81

1580887.11

() Oigifa/ Banking"

164.11

146.45

Y08,•f5

T6d. Y T

Y08. #5

Y38.OF

fii,l Non Digital Bending

1672160.28

1618830.09

1528136.86

167y160.28

1528186,36

1580749.07'

c) Who|esala Bending

1660468.54

1559292.84

1421440.84

1660468.54

1421440.84

1499816.13

d) Other Benklng Operations

118718.59

115864.08

111367.06

118718.59

111367.06

112867.13

e) Unal|ocated

19641.19

17285.97

20689.94

19641.19

20669.94

21386.51

Total

4677769.77

4397461.28

é003008.37

46yy769.y?'

4003008.37

4364886.32

4 Soament Llabllltloe'

a) Tfeasup/

117378.35

78998.60

87053.07

117378.35

87053.07

08273.66

b) Retall Banklng:

267761a.76

2532744.34

2353971.83

2677618.76

2353971.83

2528789.64

(i) Digital Banking'

176.23

156.83

1 J4.76

]/8.23

114.76

14y.09

(ii) /ion 0/give/ Bending

2677•f•f2.53

2532587,5T

23 2857.07

267F4#2.53

2353857.07

2528642.US

c) Molesale Banking

1164664.22

1159025.98

99647+.90

1164664.22

996474.90

113027 .17

d) Other Banking Operations

4192.47

4100.45

4046.54

4192.47

4046.54

3997.87

Unallocated

29651.70

39498.81

39053.44

29651.70

39053.44

40648.06

Total

3993606.60

3814368.18

3480699.78

39g3606.60

3400699. '6

3601966.42

6 0 apltal, Employees etock optJona outstanding end Reaervoe

584254.27

583093.10

522408.5 9

584254,27

522408, 59

562000.90

6 Total (4)*(6)

4677769.T7

4397461.28

4003008.37

46y7y69.77

4003008.37

4364886.32

"Information edouf o@;/af 8anzi/jg Segmeri/ /o/+orYed es a sum+-sogmen/ oF Pe/ai/ Banhisg Sogmenf is ie/ofed la Ogila/ Banking L/nibs oF/fia Bank.

'Segment Results andLia6i/ivies ror ffie fia/Fyoar ended September to, y02â andyear ended iUem/i 3J, fi026 are aF/er considering he /mpac/ o/ I/oefing provisions in he resqecf/ve segmenfs.

S

VUVBAI o

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0

Business Segments have been Identified and roporled texTng inlo eccounI the target customer profile. the nalure of products and services, the differing risks and returns, the afgenlsetan slructure, Cha inlefnel business reporting systom and the guidelines prescribed by lhe RBI. Tho Segment Assell and Segment Llab|lities exclude tren#fers between segmeOU and eye Iranefer priced on e gross basis.

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Notee:

1 Slandalona statement of Assets and Liebilifies is given below:

As at

30.g9.2026

As at

30.09.2026

As st

31.03.2026

UnaudIted

Unaudlted

Aualted

CAPITAL AND LIABILI£ES

Capllal

1541.86

1536.37

1539.34

Employees stock options / unils outstanding

5107.B1

4183.53

4545.11

Reserves and surplus

577604.60

516688.69

556816.45

Deposits

332744B.93

280178 .77

3105250.48

Borrowlngs

489017.54

509597.05

489394.63

Otfier liabilities and provislons

177039.03

169213. 96

207340.31

Total

46yT769.yy

4003008.37

4364886.32

ASSETS

Cash and balances with Reserve Bank of India

175139.57

133187,66

200679,37

Balances with banks and money ef call end short notice

75234,53

31954.62

97786.89

Investments

923997.08

874321.25

884201.47

Advances

3195566.06

2746359.78

2937166.26

Fixed assefs

14645.26

13854.09

14724.64

Other assels

193177.27

203330 97

230327 59

Total

46yyy69.77

4003008.37

4364886.32

Standalone statement of Cashflows Is given below:

34.03.2026

TO 09 2026

30 09 2OZ6

Unaudited

UnaudIted

AudIted

Caeh flows from oparating activltfoe:

Profit after tax

Add: Provision for Income tax

Progt before income tax

Adjustments for:

Depreciation on fixed assets

Profit on revaluation of Investments

Amortisation of premlum / (discount) on investments

Profit on sale of fixed aseels

Profit on sale of investment in subsldlary Provision / charge for non performing aeseTs Floating provisions

Provision for standard assets and conlingencias

Oiyiderid from subsidiaries

Employee stock options / unils expense

Adjustmenls for:

Increase In Investments lncreaee in advances Increase |n deposils

decrease / (Increase) in other assets

(Decrease} / Increase in other IiablliTies and provislons

Oirect laxes paid (net of refunds)

Net caah flow from 7 (ueed In) oparating activities

Caeh flows from lnveetlng actJyltlee:

Purchase of fixed assets Proceeds from saTo of fixed assets investment in subsidiaries

Proceeds from sale of inveslment In subsidiary (net of expenses)

Dlvidend from subsidiañes

Net ceah flow from / (used In) Investing actJvltlee Cagh flows from financing actlvitlea:

Proceeds from Issue of share caplial

Repayments of Thor 1 and Tier 2 capital inelruments Proceeds / (Repayments) of other borrowings (net) dividend paid

Net caeh flow ueod In financing actlylt)es

Effoct of fluctuation Tn foreign curror+cy Translation reserve Net Incroaee / fdecree ae) In cash and caeh equivalents

Cash and oleh equJve/en@ at the beginning of tfie year Caah and cash equivalents at the end of tho porlod

38569.68

12448.42

61018.10

1929.30

(1008.75)

471.36

(88.95

5768.39

864.99

(1951.66)

982.07

36796.49

891B.91

46716.40

1812.01

(2087.57)

323.82

(59.18)

(9128.40) 52e0.22

9000.00

3661.93

(1631.44)

1001.76

74671.28

20497.40

96160.69

3657.58

(1075.82)

917.73

(186.57)

{9179,40) 11416.B0

0.000.00

2972.7

(2242,21

1971.07

6y984.86

638ee.e6

112420.66

(38686.41)

(264168.17)

222198.46

33987.57

(31167.78)

(36613.85)

(132032.33)

87073.88

(4455.11)

10062.76

(49116.60)

(328962.40)

390535.58

(30232.30

49002.92

(19861.46

(22076.10

143667.86

(9115.91)

(7565.91)

(2004 0.BE

(28967.37

(29642.01

12361?.00

(1210.30)

124.31

(1000.00j

1951.66

(943,84)

257.39

(80.87) 97*i5.00

1631.44

(3143.53)

429.76

(80.87)

9806.00

2242,21

(134.33

10819.12

9263.67

1341.10

(10280.39)

9845.40 (20021.OF)

-(36665.60)

(20705.98)

-(59472.25 (2070fi.98

(19114.94

{66?'82.24

(?'6O69.73

124.38

376.73

1094.84

29846 6.36

260374.10

239670.68

166142.28

239670.68

298468.36

MUMBAI

-.

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  1. The ebove standalone financial resulfs heve been approved by the Board of Director e at ils meeting held on October 17, 2026. The financial results for the quarler and hell year ended Seplemt'er 30, 2026 heve deen subjecled to e "Ljmiled Revjow'* by lie joinl ytaluTory' eudflors of tho Bank via Ba#iboi & Purohit, Chanered AccountanIB end B S R & Co. LLP, Chanered Accountanls.

  2. These financial results have been prepared In accordance with the recognition and measurement principles laid down In Accoun£ng Standards specified under Sectlon 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulalion Act, 1949, the circulars, guidelines end dlrections issued by the Reserve Bank of India ("the RBI") from time to time end other accounting pñncip)es generally accepted in India, and are in compliance wilh the presontetion and disclosure requlromenls of Regulation s3 and Regulalion 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regu|alions. 2015 ("SEBI Regu|ations') es amended Including relevant circulars Issued by the SEBI from tlme to tlme, to the extent applicable. Basis the nature of Ihe Benk'• business, applicable ratios under the said regulations are

    The Bank has epp!ied its significant accounting policies in the preparation of lljese financial resu|ts consistent with those followed in the annuel financia| statements for the year ended March 31, 2026, Any circulars / directions Issued by RBI are implemented prospoctivoly when It becomes epplicablo, unless specifically requlred under those circulars / dlrections.

    During The quatler and half year ended Seplember 30, 2026. the Benk has allolted 1,72, 69,856 and 2,52,29.020 equity sharos respeclive}y, pursuant to the exercise of options / units under the approved employee stock option schemes / employee sfock Incenlive masler schem e.

    During the half year ended September 30, 2025 and yoar ended March 31, 2026. tho Bank made a floaljng provision of 7 9,000.0 0 crore in line wilh the Boaid epproved policy.

    Disclosure under resolution framework for CO/ID-19•raIaled slress as at September 30, 2026, as per lie Reserve Bank of indie (Commercial Banks - Financlal Stalemenfs Presenlalion and Disclosures) Directions, 2025 deted November 28, 2025, are given below:

    Type of Borrower

    Exposure to accounts classlTied as Standard consequent to mp|ementation of resolution plan -Position es st the ond of the previous haIf•yeer I.e. Merch 31, 2026 {A)^

    Of (A), aggregate debt that slipped nto NPA during the half-year ended September 30,

    2026

    of tA) amount wñtten oe during

    |ge na|f-yeaF

    Of (A) emount paid by lhe borrowers during the heg-year

    Exgesure to eccounls c|assified as Standard consequent to

    - Position es el Ihe end of this

    September 30.

    2026'

    Personal Loans

    1,967.45

    18.93

    4.78

    257.97

    1,690,55

    Corporate persons"

    473.47

    0.23

    0.01

    13.71

    159.53

    Of which, MSMEs

    15.29

    0.78

    2.50

    12.61

    Olhers

    131.29

    1.g1

    0.41

    27.41

    102.37

    Total

    z,zyz.z1

    20.BT

    6.20

    299.09

    1,962.46

    "As defined n 5ec//on f zy at me insolvency and Oenkruplcy cooe, Sof s.

    Represents dedf fñat s/ipped/nro NPA end was sudsegueni wniten oYdi//ing be /ia/Z- par ended Sep/emAer TO, 2026.

    " Exdudes other fac*/*f*es /o he barrovzars aggregaâng /o £ IBM.49 ctore as of Saplernber 80, 2026 and 1 193.59 crore as oFNarcfi 3f, 2026 wfiJcfi have nof Aeen /esfrucfured.

    Disclosures on the delalls of loans transferred / acqulred end co-lending arrangemenls during the quarter ended September 30. 2026. as pet the Reserve Benk of Indla (Commerclal Banks - Flnancla! Statements: Presentafion and DTsdosures) Dlrecfions, 2025 dafed November 28, 2025. are given below:

    1. Details of non-performing asset* {NPAs) transferred: tr In crore except number of accounts)

      Reconetructlon

      To permitted

      To other

      Number of accounIs

      Aggregate principal oulslanding of joans Irensferred

      Weighted average residual tenor of lhe loans transferred (in years)

      Net book value of loena transferred (at the lime of tfansrer)

      Aggregate consideration

      Additional consideration realised in respect of accounts transferred in earlier yoars

      2.80

    2. Delails of loans nol in default transferred throug h asslgnmenl are given below:

Aggregate amount of loans lrensferred g In crore)

4,960.74

Weighted average resIdua| malurity (in years)

8.59

Weighed average holding penod (in years)

2.41

Retention of boneficiel economic interest

106

Tangib|e secunfy coverage

100°/

Tfie loans fransfonod are no/ roled es /ñeso are to non-corporefe borrowers. (ii)) The Bank has not acquired any loens not in default.

(ivJ The Bank has not acqulred any slrossed )oens (Non-performing assefs end Sfiieclal Mention Accounts)

  1. The Benk has not transferred eny Sp•clal Mention Accounts,

    ^eQ Acc "*

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  2. Delails of raling-wise distributipri of Security Receipts (SRs) held by the Bank at Seplember 30, 2026 are given below:

    Rating

    Ragng Ag oncy

    Recovery railng

    Groae Value of

    Outstandlng

    SRe

    RR1

    ICRA

    10096 - 150%

    RR2

    Indie Ratings

    75% - 100%

    27.26

    RR4

    India Ralings

    25"4 - 50"4

    34.78

    RR5

    Indie RalJngs

    Uplo 25°4

    125.47

    RR5

    CRISIL

    Upfo 2696

    27.34

    Unrated

    720.00

    Total

  3. The Bank has not entered into any co•Iejjding lransaction¥ during tho quarter.

40 Disclosure related to Project Finance lot the quarter ended September 30, 2026, as per Ihe Reserve Bank of Indie (Commarfial Banks - Financial Statements: Presenfation end Disclosures) Directions, 2025 dated November 26, 2025 Is given below:

Itom Doecñptlon

Number of

Total

outstanding

1. Projscls under imp)ementa£on accounls at lhe beginning of the quener

440

21,509.49

Projecls under implementation accounts sanctioned dunng the quarter

139

2,124,48

3. Projects under Implementation accounIs where DCCO has been achieved dunng

the quarter

103

4,547.82

ProJects under implementation accounls al the end of the quarter"

469

21,246.56

Out of 4 -accounIs In respect of which resdullon process invoicing extension in

original / oxlended DCCO, as tho csse may be hae been invoked

61

3,506.97

5.1. Out of '5' - accounts in respect of which Resojut‹on plan has been

implemented

1,886. 50

5.2. ut o ' ' - accounts in respect of which Resolution plan Is under

1,621.47

5.3. Dul of '5 - accounts In respect of which Resolution plen has faileo

6. Out of'5', accounts in respect of which resolution process Involving extenslon in

oñgina) / extended DCCO, as the case may be has been invoked due lo chango In scope end size of lhe project

85.26

7. Oul of 5', account in respecl of whjch cost overrun assoclated wilh exlonslon in

original / expended DCCO, as the case may bo, wee fundad

7,1, OuI of '7', accounts where SeCF was sanctioned dunng financial closure and

renewed continuously

7.2. Oul of '7'. accounts where SBCF wes nol pre senctjoned or renewed

8. Out of '4 - accounls In respect of which resolution process not Involving

extension Tn original / extended DCCO, es tho case may be has been Invoked

8.1. Out of '8' - accounts Tn respect of which Resolution plan has been

imPlemented

8.2. Oul of '8' -accounts in respect of which Resolution plan Is under

Tm@emenlation

8.3. Out of 'e' - accounts in respect of which Resolution plen hes faTed

'-xcIudes 7 accoi/nfs ›v/jere /epaymenf was comp/aled prior Io file ac/j/avomenf oF DGGO, and f/iereFo/e no longer /orm parf oF ffie projec/s under /mp/omenfaf/on accounts 8/ he 8fld OF lfi8

  1. Other income includes commission Income from non-fund based banklng activities, fees, earnings from foreign exchange and derivative transactions, profil and loss (Including revaluation) from investrnenls, dividends from subsidiaries and recoveries from accounls prevlously written off.

  2. On June 25, zozr, lhe Bank's subsidiary company, HDB Ffnencial Services Limited 'HOBFS') launched fts Tnili& pudTic offering f'lPO'J, composed of a frosh issuance of ogu)ty shares aggregating fo T 2,500.00 crore end an offer ror sale ("OFS") oT equity shares by tho Bank, aggregating IO £ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equify shares of T 10/- each of HDBFS at Z 740/- per share, for a conslderation aggregating to T 10,000.00 crore. Coneequenty, during the half year ended Sepfember 30, 2025, the nef Oein recognlssd by the Benk on sale of shares under tho OFS wee ¥ 9.128,'4 0 crore (befo/e tax and net of estimated IPO relafed expenses). For Ihe yaar ended Mamh 31, 2026, the net gain recognlsed by the Bank on sale of shares undef the OFS was T 9,179.40 crore (before tax and net of IPO related expenses).

  3. Provision for tax for Ihe half year ended September 30. 2025 and year ended Merch 31, 2026 Is nel of wrife back of provislon no longer required of T 1,144,46 crore. pursuant to favourable orders received.

  4. As intimated lo tho Stock Exchanges on September 26, 2025, IIje Bank's brench al the Duba) Internationel Financia| Cenlre ("DIFC Branch") received a decision notice dafed September 25, 2025 from {he Dubal Flnancia| Services Authority ('DFSA'). prohibiting, amongst other hinge. the branch from s4iclling or conduclin9 buslness With new Oients !8^ specified financia} services. The prohibilion does nol affect servicing of existing customers end will remain In plecs until ofherwlse amended or revoked in wñling BY DFSA The Bank has taken steps to comply wilh lhe dimctives in the above-referred notice.

    Tho business undertaken at lhe DIFC Branch is not malellal to tho Bank's operations or its financlal position and accordingly no mateñal Impact Is expecled with respect to the overaI) operations or financial position of the Bank.

  5. Figures of the previous periods have beon regrouped / reclassified wherever necessary to conform to current period's c|esaifiCatTon.

  6. T 10 million = T 1 crore

SCO

MUMBAI

Place: Mumbai

Date: Oclobsr 17, 2026

Sash)dhar Jagdlshan Managlng Director DIN-08614396

B S R & Co. LLP

Charterecl Accountants

l4tli Floor', Central B Wing & North C Wing Nesco IT Parle 4, Nesco Center',

Western Express Highway, Goregaoii (East) J4rHnbai - 4000G3, Incli‹t

Batliboi & PM-ohit Ch‹1rtct°ed Accountants Nation‹il InsH°ancc BiilcIil1g, 2"' Floor, D N Road,

Fort, Mmnbai - 400001

Independent Auditors' limited review report on iinaudited standalone financial results of HDFC Bank Limited for the quarter ended 30 September 2026 and year to date results for the period t'roni 1 Avril 202(i to 30 September 202ti pursuant to Regulation 33 and Regulation 52(4) read with Regulation fi3 of the Securities and Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations, 2015, as amended

To the Boar d of Directors of HDFC Bank Limited

I . We have reviewed the accoinpanyin• statement of unaudited stiiiidiilone financial results of HDFC Bank Limited (liereiniifter iefei red to as "the Bank") for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement") being submitted by the Bank pursuant to tlic requirements of Regulation 33 and Regiilatioti 52(4) read with Regtilatioia 63 of the Securities and Exchange Board of India (Listing Obligations and Disclostwe Reqtiiiernents) Regulations, 201.5, as amended (the "Listing Regulations, 20 15"). We have initiated the St‹itement for identification proposes onl y.

This Stateiiient, which is the responsibility of the Baink's inanap•einent and appi'oved by its Board of Directors, hns been prepared in accord‹iiice with the recognition and iiieasiirernent principles laid down in Accounting Standiird 25 "Interims Financial Reporting" ("AS 25"), prescribed under Section 133 of the Coiiipanies Act, 2013, the relevant provisions of the Bankinq• Regulation Act, I 9^8. ciicu1:us, guidelines and master directions issued by the Reserve Bank of India ("RBI m‹ i. .....ies") as ;ipplicable, and other accounting principles generally accepted in India •ind in compliance with Regulation 33 and Regril‹ition 52(4) read with Regulation 63 of the Listing Regulations, 2015. Our responsibility is to isstie a report on the Statement based on our review.

  1. We conducted our review of the Statement in accordance with the Stiindard on Review Engagei rents (SRE) 2410 "Review of Interim Financial Infoimation Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review ofi interiiai financial inforiii‹iti on consists of making inquiries, priiii‹irily of persons responsible for financial and accounting 114a(teI s 'lIId applying ‹tHalytical and other i-eview procedures. A review is stibst‹intially less in scope than an aiidit conducted in accordance with Standards on Auditing ‹ind consequently does not enable us to obtain assurance that we would become aware of all stgnificant matters that might be identified in an audit. Accordingly, we do not express 'U1 illldit opinion.

    eg'ICC.o*

    B S R & Co. LLP

    Char tered Accountants

    Batliboi & Purohit

    Chartered Accountants

  2. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordiince with the recognition and measurement principles laid down in the aforesaid Accounting Standar d, RBI Guidelines, as applicable and other accounting principles genernlly accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) reud with Re•ulation 63 of the Listing Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accoi dance with the releviint master directions issued by the Reserve Bank of India in respect of income recognition, ‹isset classi fication, provisioning and other related matters.

For B S R & Co. LLP

Clint-tered Accoiui fr@s

Firm's Re•' ation No. 10 l248WfW-100022

hir Soni

Partner

Membership No. 041870 UDIN: 26041870LMISNP5588

Place: Mumbai

date: 17 October 2026

For Batliboi & Purohit

Cli irtereid Accouutniits

Firm's Registration No. 10 l048W

Janak Mehta

Pnrtii etc

Membership No. 116976

UDIN: 26116976YSRGLC6829

Place: Mumbai

Date: 17 Ortoher 2026

2

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HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Sandoz Houee, Shlvaegar Eetate, Dr. Annle Beeant Road Worll, Mumbai 400 018. Website: https://www.hdfc,bank.In, Tal.: 022- 6652 1000, Fax: 022- 2496 0739

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2026

Quarter ended

Half year ended

Year ended

31.03.2028

30.09.2026

30.06.2026

30.09.2025

30.09,2026

30.09.2025

1

Unaudlted

Unaudlted

Unaudlted

Unaudlted

Unaudlted

Audited

Interest earned (a)+(b)+(c)+(d)

a) Inlorest / discount on advances / bi||•i

9S131.65

70049.53

90575.33

66406.51

86993.84

63309.67

185706.96

136456,04

174365.71

127457.58

348615.IN

256192.47

b) Income on investments

22101.42

20753.16

21328.37

42854.GB

42145.54

62856.87

c) Interest on balances with Reserve B8FIk of Indla and other

1560.46

1599.37

738.86

3159.83

1565.30

3457.06

Omar-bank lands

d) Olhers

1420.22

1B16.29

1616.94

3236.51

3197.28

6308.75

other Income (e)*(b)

34227.06

42535.03

31566.79

76762.09

77249.89

146847.88

a) Premium and other operating income mom insurance business

23640.43

18353.92

20510.43

41994.35

36583.80

84160.02

b) Olhera (Refer nole 8)

10586.63

24181.11

11056.36

34767.74

40666.09

62687.64

Yotel Income (1)+(2)

129358.69

133110.36

118560.63

262469.OF

251615.60

495462.81

Interest expended

50667.63

47625.63

46740.B6

98293.06

94449.37

185491.2*

Operatingexpeneee (1)+(li)+(HH

li) Claims and benefits pald and olher expenses pertaining to

45819.72

9774.20

22518.74

54488.73

9342.49

32177.54

40879.OF

9317,56

18988.69

100308.45

19116.69

54696.26

90062.05

18215.02

47061.61

181173.91

37604,B1

92340.2£

Insurance business

iii› Olher operating expenses

13526.78

12968.70

12572.80

26495.48

24785.42

51228.88

Total expenditure (4)+(5) (excluding provisions and

96487.15

102114.36

87619.91

19B6O1.51

184511.42

366665.14

contingencies)

Operating proflt before provlelono and contlngenclea (3)-(6)

32871.54

30996.00

30940.72

63867.54

67104.18

128797.67

Provisions (olher than tax) and conllngeneies (Refer nole 7)

4209.00

3802.84

4281.83

8011,84

19595.46

26656.22

10

Profit from ordinary actlvltloa before tax and minority

28662.54

27193.16

26658.89

55855.70

47508.72

102141.45

Interest (y}•(B}•(9)

11

Tax expense

7125.45

6810.47

6295.12

13935.92

10054.52

22921.99

12

Net profit from ordlnary aetlvltles after tax end before minority

21537.09

20382.69

20363.T7

41919.78

37454.20

79219.46

Interest (10}-(11)

13

Extraordlnary ilems (nel ol tax expense)

14

Net protlt for the period before minority Internet (12)-(13)

21537.09

20382.69

20363.7T

41919.78

37454.20

79219.46

Lass: Minority Inleresl

837.06

1137.98

753.10

1975.04

1585.62

3193.49

16

Net protlt for the period (14}-(15)

20700.03

19244.71

19610.67

39944.74

35868.58

78025.97

17

Paid up equily share capital (Face value ol T 1/- each)

1541.86

1540.13

1536.37

1541.86

1536.37

1539.3^

18

579975.02

Reserves excluding revaluation reserves

19

Analytical Ratioa and other dlecloeurea :

(I) Percentage of shares held by Government ot lndla

Nil

Nil

NII

Nil

Nil

Nil

(li) Earnings per share (EPs› g) (Face value ol T 1/- each):

(a) Basic EPs belore & alter extraordinary items

13.4:2

12,50

12.78

25.93

23.39

49.60

(net of lax expense) - not annualized

(b) Diluted EPS before & a fler extraordinary Ifems

13.41

12,47

12.71

PS.87

23.27

49, 26

(net of lax expense) - not annualized

MUX Al

Rogd. Offlco : HDFC Bank Ltd., HDFS Bend House, Senapati Bep8t Marg, Lower Parel {Weal), Mvmbal - 4000 J3•

We understand your world

Consolldaled Segment Informallon In accordance wlth the RBI guldellnes and Account|ng Standard 17 - Segment Reportlng of the opeial)ng segments of the Group Is as under:

Quaner ended

Half year ended

Yeer ended

31.03.2026

30.Ofi.2026

30.06.2026

30.OF.2020

30.Ofi.2026

30.OF.2025

Uneudled

Unaudled

Unaudltad

Uneudlad

Unaudlted

Audlted

a) Treasury (Rofer nofo 6)

19150.30

18192.38

20609.22

37342.68

46713.43

82158.35

b) Retall Banking:

79112.16

75888.80

755B4.•i2

t55000.96

150775.70

301853.51

(i) 0/giIa/ Banking"

3.8g

3.39

2.62

7.28

5.11

IO.3Z

{/# Non Digital Banking

79f08.2Z

75BBS.d f

7â8B1.90

164993.68

180770.59

301843.14

c) Wholesale Banking

52743.67

48670.85

42308.37

101414.72

87098.59

174506.30

d) Olher Banking Operations

9700.20

9044.03

9333.81

16744.23

18027.45

36840.96

e) Insurance Business"

26020.21

35951.83

22798.91

62772.04

54418.15

106079.83

/} Olfiors^

280.86

4974.15

4721.00

1025°'.01

9135.03

19507.46

g) Unallocated

Total

182 07.60

182722.04

175355.83

385528.BE

388189.15

722948.41

Less: infer Segmenf Revenue

63448.91

59611.6B

56795.20

123060.59

114553.55

227403.60

Income from Operatlons

128a58.69

133110.36

118580.63

262460.05

291615.60

4g5482.81

z segment Reaule••'

a) Treasury (Rofer note 8)

2099.17

2406.59

4212.52

4505.76

14810.25

18963.35

b) Retail Banking:

1052a .•i9

10131.32

9098.86

2065£.91

12480.56

32026.72

(I) Digital Banking•

0.07

(0.44)

0.07

(0.64)

(1.S9)

(li) Non Digital Banking

I0s21.59

l0t31.£5

g09g.30

NOT2.84

f248f.20

W028.3f

c) Wholesale Banklng

t0563.24

10364.04

8922.62

20927.28

12621.01

33947.96

d) Olher Banking Operalions

3297.TO

279B.01

2790.10

6093.31

4806.88

10416.96

e) Insurance Business"

2005.50

1760.38

1746.19

3755.97

3391.12

7083.61

§ Others^

747.15

334.48

4g9.g3

1081.63

561.33

2068.38

g) Unallocafed

(571.70

(589.46

(601.03

(1161.18

(1182.41

(2364.43

Tolal Profit Before tax end Mlnorl lntorea

28e62.54

27193.16

26858.88

65656.70

47508.72

102141.45

3 Segment Ascet¥

a) Treasury

1106606.06

1086021.85

921265.72

1106608.06

921265.72

1149929.44

b) Retail Banklng:

1672324.39

1618976.54

1528244.81

1672324,39

1528244.01

15B0B87.11

(I) Digital Banking"

T64.I I

T46.45

T08.d5

f64.I I

JOB.45

T38.04

(il) Non Digllel Benklng

167£160.£8

16J8830.09

16£8136.36

167£I60.EB

1828136.36

f680Z49.07

c) Wholesale Banking

1660468.54

1659292.84

1421440.84

1660468.54

1f2T.440.84

f4998J6.13

d) Other Banking Operations

118719.59

115884.08

111367.06

116719.59

411367.06

112867.13

e) Insurance Business"

452460.39

441063.02

395094.85

452460.39

395094.85

414400.04

I) Others^

135621.42

132948.46

116638.18

135621.42

116638.18

128754.4B

g) UnaTlocaled

19641.19

17985.97

20689.94

19641.19

20689.94

21386.51

Totel

0180B41.58

4971473.66

4514741.40

51B0841.•i8

4514741.40

4808040.84

a) Treasury

41Y378.35

78998.60

67053.07

117378.35

07053.07

98273.66

d) Retail Bankings

2677618.76

2532744.34

2353971.83

2677618.76

2353971.83

2528769.64

{# 0/gifo/ Banking"

f '6,Z5

f56.83

fJ4.Z6

TZ6.23

114.76

f47'.09

( Nan Digital Banking

@ZZW£.S3

£5fii2S8Z.fif

2353367.07

26ZZ442.W

/W@SZ.OF

/G864/.55

c) Wholesale Banking

1164664.29

1159025.98

996474.90

1164664.22

996474.90

14Q276.17

d) Olher Banx)ng Operations

4192.47

4100.45

4040.54

4192.47

4046.54

3997.87

e) Insurance Business"

432657.14

421651.63

3792t4.74

4M657.14

378214.74

398573.63

§ Others^

107517.BE

106068.47

90582.9t

107517.85

90502.91

99037.36

g) Unallocated

29651.70

39496.81

39053.44

29651.70

39053.44

4064$.08

Total

4033680.49

4342088.GB

3850387.43

4s33880.49

385O3B7'.4g

4208086.41

g Cepltel, Employees stock options outslandlng, Reeervee and Minority Intorost

632t61.09

629385.38

564343.97

632161.09

564343.07

608444.4G

"" Sagmont Reru//s andL/e0//Tf/es /prfiztTfyoor ondod Sepiembar TO, 202a and year and Uem/i 3I, 2026 aro a/Ter rons/dadrtg i/io /mpaaI a/ floating provisions in lfio rospecII'yo oegmon/s, " !nsIudes mo opoellons a! iho consoI!dalad onI/f/os o/Clio Bank, not eoeerod in eny of/fio aAovo sogmenls.

T

MUMBAI

."

Business Sogmonls fiave boon idonlillod and roponod taking lnlo account Iho largol customer profile, lho naluro oT producle and services, tho dlllorTng risks and rotums, lho or anTsaTlori struMure, tho int0mal buslno:s roponlng syslom and tljo guldolinos proscribed by tho nBi. Tho Sogmont Assoto and Sogmonl Uabllillos oacludo tranelors bolwoon aogmonts and oro transjor prlcod oil a gross bawls.

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Notee:

Gonsolldated statement of Assets and Llabljaies is glven below:

R in crore)

As at

30.09.2026

Ae at

30.09.2025

As at

31.03.2026

Unaudlted

Unaudlted

Audited

CAPITAL AND LIABILITIES

Capltal

1541.86

1536.37

1539.34

Employees stock opllons / units outstanding

5107.81

4183.53

4545.11

Resen/es and surplus

601927.19

537607.51

579975.02

Deposits

3324146.36

2798169.83

3099638.2E

Borrowings

594143.54

599507.24

588484.55

Offiar liabilities and provisions

224930.68

209125.38

252977.SP

Policyholders' lunds

390459.91

343594.98

35g496.0X

Total

5165841.58

4514741.40

4908040.84

ASSETS

Cash and balances with Reserve Bank of India

175156.11

133210.73

200707.11

Balances wilh banks and money at call and shorl nolice

88644.04

43847.14

111218.97

Investments

1M6850.48

1250390.77

1280216.29

Advances

3316057.54

2853902.56

3050783.23

16430.53

15537.75

16491.59

Olher assets

212702.88

217652.45

248623.68

Consolidated statement of Cashflows is given below:

N In crore)

Half year ended

Year endod

31.03.2026

30.09.2026

30.00,2025

Unaudlted

Unaudlted

Audited

Cash flows from operating actlvltloa:

Consolld8ted prolil after lax and minority interest

39944.74

35868.58

76025.97

Add: Provision for income tax

13935.92

10054.52

22921.99

Consolidated profit belora income tax and alter minority interest

53880.66

é5923.10

9B947.96

Adjustment tor:

Dep‹ecial)on on lixed assets

2218.68

9061.48

4194.90

(Profit) / loss on revalualion of inveslmenlG

(3018.64

(3440.62

7739.96

Amortisation ol premlum / (discount) on investments

461.62

379.31

9g6.17

Prolit on salo ol lixed assels

(89.68

(60.52

(207.91

Proli| on sale ol inveslm8nl in subsidiary

(6949.27

(7000.27

Provision / charge lor non performing assats

6896.31

6973.56

14445.98

Floating provisions

9000.00

0000.00

Provision for standard aseels and contingencies

1115.53

3621.90

3210.2X

Employee slock oplions / unifs expense

1117.47

1128.13

2228.30

62581.95

58637.07

133545.33

Adjustments tor: lneroase in investments

(76762.33

(59467.24

(102572.73

Increase Tn advances

(272277.74

(135993.25

(340270.74

Increase In deposils

224508.07

87271.60

36B740.06

D8Crease / (increase) in other assels

32801.08

(5074.33

(2067B.54

(Decrease) / Increase in other liabilities and provlsions

(281g2.67

7937.04

52338.92

Increase In policyholders' lunds

34385.43

23377.42

34060.4£

(23946.21

(23511.69

138162.75

Direcl taxes paid (nol of refunds)

(10549.26

(B740.62

(92656.37

Net oash flow from / (used In) operating activities

(34495.47

(32052.51

113$06.3g

Caeh flowe from Investing actlvltlea:

Purchase ol lixed aseels

(1450.45

(1385.60

(3669.97

Proceeds from sale of fixed assels

129.72

263.00

527.56

Proceeds from salo ol Inveslmenl in subsidiary (net of expenses)

9755.00

9806.00

Invoslment in subsidiaries

(80.87)

(80.87)

Net eash flow from / fused Int Inveallno actlvltlee

(1320.73)

8551.53

6362.72

MUMBAI

^G'd ACcC+"

m

M 1

I

Half year ended

Year ended

30.09.2026

30.09.2025

31.03.2026

Unaudited

Unmudited

Audited

Cash flows from financ ing activities:

Increase in minority interesl (including issue ol ESOPs by subsidiaries)

770,35

698.57

2331.21

Proceeds from issue of share capital

1341.10

3589.34

5108.50

Proceeds from issue of shares through subsidiary IPO (net ol issue expenses)

2,458.62

2,456.61

Proceeds / (Repayments) of Tier 1 and Tier 2 capital instruments

(10500.39

400.00

700.00

Proceeds / (Repayments) of other borrowings (net)

15972.74

(36214.34

(46895.19

Dividend paid

(20021.05

(20705.98

(20705.98

Net cas h flow used in financing activities

(12497.25

(49773.79

(59004.85

E(lect of fluctuation in foreign currency translation reserve

127,55

384.74

1113.90

Net increase / (decrease) in cash and cash equivalents

(48125.90

(72890.03

61978.1 i

Cash and c4sh equivalents at the beginning of the year

311926.05

249947.90

249947.90

Cash and cash equivalents at the end of the period

263800.15

177057.87

311926.05

(T in crore)

Cash and cash egu va/en/s includes Cash and balances rvlfi Reserve Bank at India and Balances w///j banhs and money al call and short nolica.

The above financial results represent the consolidated financial results of HDFC Bank Limited and ils subsidiaries including Employee Welfare Trust ('EWT') which is consolidated as a subsidiary' (together referred to as the "Group" herein). These financial results have been approved by the Board of Directors of the Bank at ila meeting held on October 17, 2026. The financial results for the quarter and half year ended September 30, 2026 haye been subjected to a "Limited Review" by the joint statutory auditors of the Bank viz. Batliboi & Purohit, Chartered Accountants and B S R & Co. LLP, Chartered Accountants.

  1. These financial results have been prepare.d in accordance with the recognition and measurement principles laid down in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Acl, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India ("the RBI™) from time to time, the insurance Regulatory' and Development Authority of India ("IRDAI") lo the extent applicable for insurance entities and other accounting principles generally accepted in India and are in compliance with the presentation and disclosure requirements of the Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Regulations") as amended including re|evant circulars issued by the SEBS from time to time, lo the extenl applicable.

  2. The Group has applied significant accounting policies in the preparation of these consolidated financial results consistent wilh those followed in Ihe annual consolidated financial statements for the year ended March 31, 2026. Any relevant circular / direction issued by lhe RBI and other regulator(s) is implemented prospectively when it becomes applicable, unless specifically required under that circular / direction.

  3. During lhe quarter and half year ended September 30, 2026, the Bank has allotted 1,72,69,856 and 2,52,29,020 equily shares respectively pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

  4. During the half year ended Seplember 30, 2025 and year ended March 31, 2026, the Bank made a floating provision of 7 8,000.00 crore in line with the Board approved policy.

On June 25, 2025, the Bank's subsidiary company, HDB Financial Services Limited ("HDBFS") launched its initial public offering ("IPO"), comprised of a fresh issuance of equity shares aggregating to Z 2,500.00 crore and an offer for sale ("OFS") of equity shares by the Bank, aggregating to 7 10,000.00 crore. Under lhe OFS, tfie Bank divested 13,51,35,135 equity shares of I 10/- each of HDBFS al T 740/- per share, for a consideration aggregating to * 10,000.00 crore. In the Consolidated Financials, profil on sale of investment was considered as the difference between the sale consideration and the Bank's share in the carrying amount of HDBFS's net assets (lo the extenl of sale), as of the date of safe. Consequently, during the half year ended September 30, 2026, the nel gain recognised by the Bank in the Consolidated Financials, on sale of sfiares under the OFS was Z 6,949.27 crore (before tax and net of estimated IPO related expenses). For the year ended March 31, 2026, the net gain recognised by the Bank on sale of shares under lhe OFS was * 7,000.27 crore (before tax and net of IPO related expenses).

  1. As intima!ed to the Stock Exchanges on September 26, 2025, the Bank's branch at the Dubai International Financial Centre ("DIFC Branch") received a decision notice dated September 25, 2025 from the Dubai Financial Services Authorily ("DFSA™)¿ prohibiting, amongst olher things, lhe branch from sol ciling or conducting business with new clients for specified financ aI services. The prohibition does not affect servicing of existing customers and will remain in place unlit otherwise amended or revoked in writing by DFSA. The Bank has taken steps Io comply wilh the direclives in the above-referred notice.

    The business undertaken at the DIFC Branch is not material to the Bank's operations or its financial position and accordingly no material impact is expected wilh respect to the overall operations or financial position of the Bank.

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  2. Other income includes commlssion income from non-fund based banking activities, fees, earnings from foreign exchange and derlvatlva transactions, prolit and loss including revaluation) from investments, and recoveries from accounts previously written off.

  3. In accordance with the RBI guidelines, banks are required to maka consolidated Pillar 3 disclosures Including leverage ratio, liquidity coverage ratio and nat stable funding ratio under the Basel III Framework. These disclosures would be avallable on the Bank's webslte at the following IInk: https://www.hdfc.bank.in/about-us/regulatory-disclosures. The dlsclosures have not been reviewed by tha statutory auditors.

  4. Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period's classlfication.

  5. 7 10 million = T 1 crore

Place: Mumbai

Date: October 17, 2026

Sashldher Jagdjshan Managlng Director DIN-08614396

MUMBAI

B S R & Co. LLP

Cllai tci cd Accointal1ts

l4tli Floor, Celitr‹i1 B Wing & North C Wing Nesco IT Piiik 4, Nesco Center

Westei'n Express Highway, Gol'egaon (East) Mtiiaibai - 400063, lnclia

Batliboi & Purohit Charter ccl Accountants

National Insui once BBildilig, 2"" Floor, D N Road,

F-oi't, Mumbai - 400001

Independent Auditors' limited review report on unaudited consolidated financial results of HDFC Banlt Limited for the quarter ended 30 Septenibei• 202ti and year to date results for the pet-iod from 1 April 202fi to 30 September 202fi pursuant to Regulation 33 and Regulation 52(4) read with Regulation ti3 of the Securities mid Exchange Board of India (Listing Obligation and Disclosure Requirements) Regulations 2015, as amended

To the B o‹ii d of Directors of HDFC Bank Limited

  1. We l4ilVe 1'eVi0Wed the accompanying statciiient of iinatidited consolidated l'inancial iestiIts of HDrC Bank Limited (hereinafter referred to as "the Parent"/ "the Bank"), rind its subsidiaries (the Parent and its subsidiaries together refer red to as "the Group") for the quarter ended 30 September 2026 and year to d‹ite results for the period from I Apr il 2026 to 30 September 2026 ("the Statement"), being sribiiiitted by thc Parent pursuant to the reqriireiaients of Regulation 33 and Rep•tilation 52(4) read with Regulation 63 of the Securities and Exchange Board ofi India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ;is ‹iinended ("the Listinp• Regulations, 2015"), except for the disclosures prescribed by the Reserve Bank of India ("the RBI") relating to consolidated Pill‹ii' 3 disclosures ;is at 30 September 2026, including leverage r‹itio, liquidity coverage ratio and net stable funding ratio kinder Basel III Ciipital Re•iilations as would be disclosed on the Parent's websile and in respect of which ii link has been provided in Note 1.1 to the Statement and have not been reviewed by us. We have initi;iled the Stateiiient for identification purpose only.

  2. This Ste '›• •n' which is the i-esponsibility of the Parent's inanagcn 'it ••* ^l›v ved by the Parent's Boaid or .. .mrs, has been prepared in accordance with the iccogu ion and measurement princq.ios lai‹l down in Accounting Standard 25 "Interims Financiiil Reporting" ("AS 25"), prescribed tinder Section 133 of the Compiinies Act, 2013, the releviint provisions of the Banking Regul‹ition Act, 1949, circulars, gut delines and moister directions issued by the RBI ("RBI Guidelines") as ‹ipplic:ible, and guidelines issued by Insut'ance Regul‹itory and Development Authority of India ("the IRDAI Guidelines") as applicable, ‹ind other accotintin g in'inciples generally accepted in India' and in coinpli‹ince with Regulation 33 and Regulation 52(4) read with Regulation 63 of the Listinp• Regulations, 20.15. Otw responsibility is to express a conclusion on the Statement based on our review.

  3. We conducted oin review of the Stateinent in accord‹ince with the Stiindard on Review Engiigeiiients (SRE) 2410 "Review of Interim Fin‹inci‹il Information Performed by the Inde}ieBdent Auditor of the Entity", issued by the Institute of Cliiirtered Accountants of Indi‹i., A review of interiiii financial infor iii‹ition consists of making inquiries, primarily of pei'sons responsible for finiincial rind accounting matters, and apply ing an‹ilytical and other review procedtii es. A review is substantially less in scope than @ ‹iudit conducted in accordance with Standards on Auditing and consequently does not en‹ible us to obtain assurance tli‹it we would become aware of all st gnificant matters that ijiiglat be identified in an audit. Accordingly, we do not express an iudit opinion.

    G'^ed AcGO""

    B S R & Co. LLP

    Chartered Accountants

    Batliboi & Purohit

    Chartei'ed Account‹ints

    We also perfoiiiied piocedtires in accordance with the circular issued by the Securities and Exchange Board of India under Rcgtiliition 33(8) of the Listing Regulations, 2015, to the extent applicable.

  4. The Stateiiient includes the results of the entities referred in Annexure I.

  5. Based on oiii review conducted and procedures performed as stated in paragraph 3 iibove and based on the consideration of the review reports of auditors refer red to in paragraph 6, 7 and 8 below, nothing has come to our attention that causes tis to believe that the accompanying Statement, prepared in accordance with the recognition and measiirement principles laid down in the aforesaid Accounting Stand;ird, RBI Guidelines, the IRDAI guidelines, as applicable and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Reguliition 33 and Regulation 52(4) read with Regulation 63 of the Listing Regulations, 2015, including the manner in which it is to be disclosed, except for the disclosures relating to consolidated Pillar 3 disclosure as at 30 September 2026, including leverage ratio, liquidity coverage ratio :ind net stable funding ratio under Basel III Capital Regulations as would be disclosed on the Parent's website rind in respect of which a link has been provided in Note 1.1 to the Statement and have not been reviewed by us, or that it contains any material misstatement.

  6. The Statement includes the consolidated / standalone interim financial inforiiiation of five subsidiaries whose interim financial information reflect total assets (before consolidation adjustments) of Rs. 1,52,040.39 crore as at 30 September 2026 and total i enemies (before consolidation adjustments) ofRs. 6,486.24 crore and Rs. 12,916.37 crore and total net profit after tax (before consolidiition adjustments) ofRs. 1,106.97 ciore and Rs. 2,154.73 crore for the quarter ended 30 September 2026 and for' the period from 1 April 2026 to 30 September 2026, respectively and cash flows (net) of Rs. (749.22) crore for the period from l April 2026 to 30 September 2026. This interim financial information has been reviewed by other auditors whose review reports have been furnished to us by the Parent' s management and our conclusion on the Statement, in so far as it reliites to the amounts and disclosines included in respect of these subsidiaries, is based on the review reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

  7. The Statement includes the consolidated / standalone interim financial information of three subsidiaries whose interim financial infonnation reflect total *issets (before consolidation adjustments) of Rs. 9,788.97 ciore as at 30 September 2026 and total revenues (before consolidation adjustments) of Rs. 1,542.13 crore and Rs. 3,17 1.53 crore and total net profit after tax (before consolidation adjustments) of Rs. 790.34 crore and Rs. 1,618.69 ciore for the quarter ended 30 Septeiiiber 2026 and for the period front I Apri1.2026 to 30 September 2026 respectively and cash flows (net) of Rs. 15.24 crore for the period fiom l April 2026 to 30 September 2026, reviewed by one of the joint auditors of the Parent and our conclusion on the Statement, in so far as it relates to the amounts an'd disclosures included in respect of these subsidiaries, is based on the review repoitr isrued by the said auditors of lhoso rubsidiaiies end the pioceduies perfoimed by ur as stated in par:grapl 3 above.

    2

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    B S R & Co. LLP

    C1i‹irtered Accoiilit‹ints

    Batliboi & Purohit Chai'lered Accountants

  8. TUt2 S$¿lternent includes the consolidated / standalone interim financial information of two subsidiaries whose interims financial information reflect total assets (before consolidation iidjustiiients) of Rs. 4,59,186.85 crore as at 30 September 2026 and total revenues (before consolidiition adjustments) ofRs. 27,079.38 crore and Rs. 63,252.59 crore and total net profit after t‹ix (before consolidation ‹adjustments) of Rs. 667.91 crore and Rs. 1,483.97 crore for the qii;irter ended 30 September 2026 ‹ind for the period from l A[iril 2026 to 30 Septeiiiber 2026 respectively and cash flows (net) of Rs. (1,550.05) crore for the period front l April 2026 to 30 Septeiiiber 2026, reviewed by one of the joint iiuditors of the Parent along witla other joint auditor of the respective subsidiai ies and our conclusion on the Statement in so f‹w as it relates to the ‹niaounts and disclosures included in respect of these subsidiaries, is b‹ised on the review reports issued by the said joint auditors of these stibsidi‹iries and the procedtwes performed by us as stated in paragraph 3 above.

  9. The Statement includes the interims financial inforiiiation of an Eiiiployee Wclf‹ire Trust which has not been reviewcd, whose interim financiiil information reflect total :issets (before consolidation adjustments) of Rs. 790.43 crore as at 30 Septeiiiber 2026 and total revenue (before consolidation adjiistmcnts) of Rs. (98.31) crore and Rs. 51.97 crorc and net profit after tax (befote consolidiition adjustments) of Rs. (86.19) crore and Rs. 40.50 crore for the qti‹irter ended 30 Septeiiiber 2026 and for the period froiii l Avril 2026 to 30 Septeiiibei 2026 respectively and cash flows (net) of Rs. 2.85 crore for the period from 1 April 2026 to 30 Septeiiiber 2026, as considered in the Stateinent. According lo the information ‹ind explanations given to tis by the Parent's management ‹ind in our opinion, this interim financial information is not iiiaterial to the Group.

  10. The joint stiitiitory iiiiditors of HDFC Life Insurance Company Limited ("HDFC Life") vide their review report dated 16 October 2026 have expressed an tiniiiodified conclusion and have reported that "the actuarial valuation of liabilities for life policies in force and for policies in respect of which premiums lins been discontinued but liability exists as ;it 30 Septeiiiber 2026 is ilic responsibility ! HDFC Life's Appointed Actuary (the "Appointed Actuary"). The actu‹iri al valuation of these liabilities for life policies in force and for policies in respect of which premitiiii has been discontinued but liability exists as at 30 September 2026 has been duly certified by the Appointed Actuary and in her opinion, the assumptions for such valuation are in accordance with the guidelines ‹ind noriiis issued by the Instir‹ince Regulatory and Development Authority of India ("IRDAI") and the Institute of Actuaries of India in concurrence with the IRDAI. We have relied upon the Appointed Actuary's certificate in this regai d for for ruing our conclusion on tlae v‹iluation of liabilities for life policies in force and for poIicies in rcspect of' which preiiiiurn tins been discontinued but liability exists, as contained in the group reportinp• pack of HDFC Life."

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    3

    B S R & Co. LLP

    Chartered Accoulitants

    Batliboi & Purohit

    Chartered Accountants

  11. The joint stattitoi y auditors of HDFC ERGO General Insurance Company Limited ("HDFC ERGO") vide their review report dated 13 October 2026 have expressed an uniiiodified conclusion and have reported tliiit "the valuation of InCtiiTed brit Not Repoi ted ("IBNR") and Incurred but Not Enough Reported ("IBNER") liabilities for non-life policies is the responsibility of HDFC ERGO's Appointed Actuary (the "Appointed Actuary"). The actuarial valuation of the outstanding claiiiis reserves, Premium Deficiency Reserve ("PDR") and IBNR including IBNER reserve as at 30 September' 2026 have been certified by the Appointed Actuary and in his opinion, the assumptions for such valuation are in accordance with the guidelines and nouns issued by the IRDAI (the "Authority") and the Institute of Actuiiries of India in concur ience with the Authority. We have relied upon the Appointed Actuary's certificate in this regard during our review of the valuation of liabilities for outstanding cliiiins reser ve, PDR, IBNR ‹ind IBNER Reserve, as contained in the gtoup reporting pack of HDFC ERGO".

  12. Our conclusion on the Statement is not modified in respect of the matters referred to in paragraph 6 to 1.1.

For B S R & Co. LLP

Clint tereJ Accountants

Firm's Regis ation No. 101248W/W-100022

S r Soni

i-tiier

Membership No. 041870

UDIN: 26041870BDQVNR7848

Place: Mumbai

Date: 17 October 2026

For Batliboi & Purohit Cliarateited Acccviii fr@.s

Finn's Registration No. 101048W

Janak Mehta

"

Pai'inei'

Membership No. 116976

UDIN: 2611 6976PROZOJ2317

Place: Mumbai

Date: 17 October 2026

jJlh f ou

4

B S R & Co. LU'

Chartered Accountants

Annexure I

List of entitics included in the Statement.

Parent entity HDFC Bank Liiiiited

Batliboi & Purohit

Sr. No.

Name ofi the entity

n•i,tionship

HDFC Life Insurance Conap‹iny Limited ("HDFC Life")

Stibsidiat-y

I-IDB Fin‹incial Services Liinitcd ("HDBFS")

Svibsidiiiry

3

HDFC Securities Lirriited ("HSL")

Svibsidiiwy

4

HDFC Asset Mana•einent Company Liiiiited

("HDPC AMC")

Subsidiary

5

HDFC Ergo General Insitrance Coiiip‹iny Li united

("HDFC Ergo")

Subsidiary

HDFC Sales Private Limited

Svibsidiiwy

7

HDFC Capit‹i1 Advisors Liiiiited

Subsidiiuy

8

HDFC Trustee Company Limited

Subsidiary

9

Grilia Pte. Limited (located in Singapore)

Subsidiary

10

Grill.i Investiiients (located in Mauritius)

Subsidiary

11

HDFC Intern‹itional Life and Re Company Liiiiited

(located in Dubai)

Stibsidi‹ii y of HDFC Life

12

HDFC Pension Fund Management Limited

Subsidiary of HDFC Life

13

HDFC AMC International (IFSC) Liiiiited

(located in GIFT City)

Subsidiary of HDFC AMC

14

HDFC Securities IFSC Limited (located in GIFT City)

Subsidiary of HSL

15

HDB Eiiiployee Welfare Trust ("Eiiiployee Welfare

Trust")

Consolidated as a

subsidiary

Co.

Act°**

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5

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