HDFC Bank has officially appointed Anup Bagchi as its new MD & CEO, concluding leadership uncertainty, alongside reporting robust Q2 FY27 business updates with strong deposit and advances growth.
19%
Deposits Growth (YoY)
Q1 FY27 YoY Growth: 20.3%→19%
⏳ Time Machine
How today’s news fits into the bigger picture
October 2020
Sashidhar Jagdishan appointed CEO
Sashidhar Jagdishan took over as MD & CEO of HDFC Bank, succeeding long-serving Aditya Puri, marking a significant leadership transition for the bank.
July 2023
HDFC Bank completes mega-merger
HDFC Bank completed its merger with parent HDFC Ltd., creating a financial services giant with a combined asset base of ₹18 trillion and marking a major consolidation in the Indian financial sector.
May 2026
RBI approves Anup Bagchi's appointment
The Reserve Bank of India gave its approval for the appointment of Anup Bagchi as the next MD & CEO of HDFC Bank, subject to formal board confirmation and other formalities.
August 2026
HDFC Bank announces Q1 FY27 results
HDFC Bank reported a 20.3% year-on-year rise in standalone net profit for Q1 FY27 to ₹16,840 crore, driven by strong growth in Net Interest Income and other income.
September 2026
Brokerages maintain positive ratings
Major brokerages like Jefferies and Morgan Stanley reaffirmed their 'Buy' ratings on HDFC Bank shares, citing strong fundamentals and anticipation of new leadership.
Today
HDFC Bank appointed Anup Bagchi as its new MD & CEO and reported robust Q2 FY27 business updates.
What happens next?
The bank's full Q2 FY27 results are expected later this month, providing more detailed insights into asset quality and profitability under the new leadership.
HDFC Bank has officially announced **Anup Bagchi** as its new Managing Director & CEO, bringing an end to months of speculation. This leadership transition coincides with the bank's strong Q2 FY27 business update, where deposits surged by **19% year-on-year (YoY)** to **₹33.27 trillion**. Gross advances also grew significantly by **16.3% YoY**. Brokerages like Jefferies, Morgan Stanley, and Citi have maintained their positive ratings on the stock, reflecting confidence in the bank's continued performance under its new leadership and its impressive growth figures.
💭 If you're wondering…
In India, one trillion is equal to 1 lakh crore (₹1,00,000 crore). So, ₹33.27 trillion means ₹33,27,000 crore in deposits.
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