Sashidhar Jagdishan, MD & CEO, HDFC Bank
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HDFC Bank, after successfully navigating the merger with erstwhile HDFC, is now positioned for faster growth in the current financial year, MD & CEO Sashidhar Jagdishan told stakeholders in the bank’s FY25 annual report.

The bank had to pull the brakes on loan growth in the previous fiscal as it absorbed the loan assets of HDFC, leading the bank’s credit-deposit (CD) ratio to rise sharply.

“I believe we have successfully navigated the merger, and the bank is now positioned for faster growth. The reset in loan growth and the consolidation of the merger has resulted in a much stronger bank, that is now poised to capitalise further on growth opportunities,” Jagdishan said.

“As stated earlier, we are confident of growing our advances on par with the system in FY26 and higher than the system in FY27. The growth enablers, apart from balance sheet strength, remain technology, customer centricity and our people,” he said.

HDFC Bank added over 700 branches in the previous fiscal, the MD said, taking the total number of branches to 9,455 as of March 31, 2025.

“The mortgage business which was a key component of the merger, has grown from strength to strength and is now the largest in the country. This portfolio has also been a catalyst for increased cross sell opportunities within the HDFC Bank Group,” Jagdishan said.

More than 95 per cent of the incremental home loan customers are now opening low-cost deposit accounts with the bank, he said, with over half of them opting for additional product offerings.

“The successful playing out of the merger synergies, the reduction in the credit deposit ratio and the large-scale mobilisation of deposits, all constitute tailwinds for your bank. To use a cricketing analogy, we focused on taking singles in the year that concluded and are now positioned to go for the boundaries,” he said.

Published on July 14, 2025