HDFC Bank shares in focus after RBI clears Anup Bagchi as next CEO; Q2 business update out

HDFC Bank shares are expected to be in the spotlight on Monday, October 5, as Anup Bagchi is set to be the next chief executive and managing director of the lender, with the RBI clearing his name to lead the largest private sector lender on Thursday, October 1.

Bagchi, who has been associated with rival ICICI Bank and its subsidiaries since 1992, will succeed Sashidhar Jagdishan, whose six-year stint in the corner office was marred by allegations of unethical conduct and questionable governance practices towards the end.

He will take over as the MD and CEO from October 27, and the appointment is for three years, as per an exchange disclosure by the lender.

The 56-year-old Bagchi, an alumnus of IIT-Kanpur and IIM-Bangalore, has been serving as managing director and chief executive of ICICI Prudential Life Insurance since 2023 and served as executive director of ICICI Bank for six years. Before that, he was overseeing both retail and wholesale banking.

Besides this, the bank has also released its business updates for the Q2 FY27 (September quarter).

1. The bank’s average advances under management (advances grossing up for inter-bank participation certificates, bills rediscounted and securitisation / assignment) were ₹31,872 billion for the September 2026 quarter, a growth of around 14.0% over ₹ 27,946 billion for the corresponding September 2025 period.

Its period end advances under management were approximately ₹33,075 billion as of September 30, 2026, a growth of around 15.3% over ₹28,688 billion as of September 30, 2025.

The bank’s period end gross advances aggregated to approximately ₹ 32,195 billion as of September 30, 2026, a growth of around 16.3% over ₹27,692 billion as of September 30, 2025.

2. The bank’s average deposits were ₹31,665 billion for the September 2026 quarter, a growth of around 16.8% over ₹27,105 billion for the corresponding September 2025 period.

HDFC Bank's average CASA deposits were ₹9,712 billion for the September 2026 quarter, a growth of around 10.7% over ₹8,770 billion for the corresponding September 2025 period.

The lenders's average time deposits were ₹21,952 billion for the September 2026 quarter, a growth of around 19.7% over ₹18,335 billion for the corresponding September 2025 period.

The bank’s period end deposits were approximately ₹33,275 billion as of September 30, 2026, a growth of around 18.8% over ₹28,018 billion as of September 30, 2025.

The bank’s period end CASA deposits were approximately ₹ 10,520 billion as of September 30, 2026, a growth of around 10.8% over ₹9,492 billion as of September 30, 2025.

The bank’s period end time deposits were approximately ₹ 22,755 billion as of September 30, 2026, a growth of around 22.8% over ₹18,526 billion as of September 30, 2025.

FCNR(B) deposits and overseas lending

Under the RBI’s FCNR(B) deposit swap facility introduced on June 8, 2026, HDFC Bank mobilised foreign currency deposits worth $11.5 billion (₹1,103.4 billion) through August 31. Its overseas branches extended $5.7 billion (₹547.7 billion) in loans against these deposits, while standby letters of credit issued to other banks for such loans amounted to $3.1 billion (₹293.4 billion).

Separately, the bank issued $2.5 billion (₹239.6 billion) of USD-denominated senior unsecured bonds during June–August 2026.