HDFC Bank reports nearly 5% jump in Q1FY27 profit as margins remain steady

HDFC Bank on Saturday reported a standalone net profit of ₹19,059.72 crore for the June-ended quarter (Q1FY27), up 4.98% from a year earlier.  Its top line or net interest income (NII) rose 6.7% year-on-year to ₹33,535.95 crore, the bank said.

Net interest margin was at 3.25% on total assets, and 3.53% based on interest earning assets.

The bank’s average deposits were ₹30.39 lakh crore, up 10.8% year-on-year, while the advances grew at 13.3% YoY to ₹30.11 lakh crore.

Provisions and contingencies stood at ₹3,060 crore during the quarter, compared with ₹2,609 crore in Q4FY26 and ₹14,441 crore in the year-ago period.

CASA deposits grew by 9.4% with savings account deposits at around ₹7 lakh crore and current account deposits at around ₹3.24 lakh crore. Time deposits were at ₹21.46 lakh crore as of June 30, 2026, an increase of 17.4% over the corresponding quarter of the previous year. This meant that CASA deposits comprised 32.3% of total deposits as of June 30, 2026.

There was much media speculation on whether the Governance, Nomination and Remuneration Committee (GNRC) of the bank will announce a decision to reappoint the current MD & CEO Sashidhar Jagdishan for a third term. Jagdishan’s second term ends on October 26, 2026.

Former finance secretary Rajiv Kumar, HDFC Bank’s new part-time chairman, attended his first board meeting of the bank.

Responding specifically to a question on finalising the plan for the successor, Jagdishan told the media: “The new chairman has taken charge and the GNRC is fully seized of the matter. He has been well-received and we are very eager to see a great partnership building between the board and the management. This is work-in-progress. As soon as they conclude on this matter, the bank will disclose the information to the stock exchanges.”

“We are looking forward to new energy over the next few years. In the short-term there will be gyrations,” Jagdishan said.

The bank management said that they were not too worried about the LDR of the bank, which is at near 96%. The bank said that momentum for FCNR(B) offerings to NRIs has been picking up, but did not disclose exact financials.