UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 6-K

 

 

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 under the

Securities Exchange Act of 1934

For the month of July, 2025

Commission File Number 001-15216

 

 

HDFC BANK LIMITED

(Translation of registrant’s name into English)

 

 

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒    Form 40-F ☐

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,thereunto duly authorized.

 

				HDFC BANK LIMITED
				(Registrant)
Date: July 19, 2025				By:		/s/ Ajay Agarwal
				Name: Ajay Agarwal
				Title:  Company Secretary
				Group Head – Secretarial & Group Oversight

EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this report pursuant to the GeneralInstructions for Form 6-K.

Exhibit No. 99

Description

Outcome of the meeting of the Board ofDirectors of HDFC Bank Limited (“the Bank”) held on July 19, 2025

July 19, 2025

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir/ Madam,

Sub: Outcome of the meeting of the Board of Directors of HDFC Bank Limited (“the Bank”) held on July 19, 2025

We wish to inform you that, the Board of Directors of the Bank at its meeting held on July 19, 2025 considered and approved the following:

 

1.	Financial Results

The unaudited standalone and consolidated financial results of the Bank for the quarter ended June 30, 2025 (“Results”).

The said Results along with Limited Review Reports of the Joint Statutory Auditors and Press Release on the said Results are enclosed and being uploaded onthe website of the Bank. The said Results will also be published in the newspapers in the prescribed format.

 

2.	Special Interim Dividend

A Special Interim Dividend of Rs. 5 per equity share of Re. 1/- each fully paid up (i.e. 500%), for the FY 2025-26.

 

3.	Record Date for the Special Interim Dividend

The record date for determining the eligibility of Members entitled to receive the said Special Interim Dividend is Friday, July 25, 2025. The SpecialInterim Divided shall be paid to the eligible Members on Monday, August 11, 2025.

 

4.	Increase in authorised share capital and alteration of Clause V of the Memorandum of Association of the Bank

Increase in authorised share capital and alteration of the Capital Clause (Clause V) of the Memorandum of Association of the Bank asgiven below, subject to the approval of the Members of the Bank to be obtained through Postal Ballot and other regulatory approvals, if required:

 

Existing clause		Amended clause
V. The Capital of the Company is Rs. 1190,61,00,000/- (Rupees One Thousand One Hundred Ninety Crores and Sixty One Lacs Only) divided into1190,61,00,000 (One Thousand One Hundred Ninety Crores and Sixty One Lacs) Equity Shares of Re. 1/- (Rupee One Only) each with a power to increase or reduce the share capital.		V. The Capital of the Bank is Rs. 2000,00,00,000/- (Rupees Two thousand crore only) divided into 2000,00,00,000 (Two thousand crore) EquityShares of Re. 1/- (Rupee One Only) each with a power to increase or reduce the share capital.

5.	Issuance of Bonus shares

Issuance of Bonus equity shares in the proportion of 1:1 i.e. 1 (One) equity share of Re. 1/- each for every 1 (One) fullypaid-up equity share of Re. 1/- each held by the Members of the Bank as on the Record Date (mentioned below), subject to statutory and regulatory approvals as applicable and approval of the Members of the Bankto be obtained through Postal Ballot. The details as required, is enclosed as ‘Annexure – I’.

 

6.	Record Date for Bonus shares

The record date for determining the entitlement of the Members of the Bank to receive bonus equity shares is Wednesday, August 27, 2025.

Please note that the Board Meeting commenced at 11:00 a.m. today, i.e. on July 19, 2025 and last of the above matters was approved by the Board at 2:00p.m. The Board meeting is continuing for consideration of other agenda matters.

Please note that in terms of the Bank’s Share Dealing Code and theSEBI (Prohibition of Insider Trading) Regulations, 2015, the window for trading in Securities of the Bank by its designated persons shall open on Tuesday, July 22, 2025.

This is for your information and appropriate dissemination.

Yours faithfully,

For HDFC Bank Limited

Sd/-

Ajay Agarwal

Company Secretary

Group Head –Secretarial & Group Oversight

Encl.: a/a.

Annexure I

 

Sr  No		Particulars		Details
1		Type of securities proposed to be issued		Equity Shares offace value of Re. 1/- each
2		Type of issuance		Bonus issue
3		Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately)		766,79,13,646 equity shares of face value of Re.1/- each amounting to Rs. 766,79,13,646/-   The above will change pursuant toexercise of stock options/ restricted stock units by the Eligible Employees of the Bank till the Record Date.
4		Whether bonus is out of free reserves created out of profits or share premium account		The Bonus equity shares will be issued out of Securities Premium Account availableas at June 30, 2025.
5		Bonus ratio		1:1 i.e. 1 (One) fully paid-up equity share of Re. 1/- each for every 1 (One) fully paid-up equity share of Re. 1/- each held by the Members as on the Record Date.
6		Details of share capital - pre and post bonus issue		Pre-Bonus Issue Share Capital   Authorised capital – Rs. 1190,61,00,000/- divided into 1190,61,00,000 Equity Shares of Re. 1/- each   Issued, subscribed and paid-up capital -Rs. 766,79,13,646/- divided into 766,79,13,646 Equity Shares of Re. 1/- each   PostBonus Issue Share Capital   Authorised capital - Rs. 2000,00,00,000/-divided into 2000,00,00,000 Equity Shares of Re. 1/- each   Issued, subscribed and paid-up capital - Rs. 1533,58,27,292*/- divided into 1533,58,27,292* Equity Shares of Re. 1/- each.   *As on the date of Board approval i.e. July 19, 2025. The actual number of bonus shares to be issued will be determined based on the fully paid-up equity shares as on the Record Date

7		Free reserves and/ or share premium required for implementing the bonus issue		Approximately Rs. 766,79,13,646   The above will change pursuant to exercise of stock options/ restricted stock units bythe Eligible Employees of the Bank till the Record Date.
8		Free reserves and/ or share premium available for capitalization and the date as on which suchbalance is available		Securities Premium: Rs. 13,63,15,35,97,062 as at June 30, 2025.
9		Whether the aforesaid figures are audited		Subjected to a “Limited Review” by theJoint Statutory Auditors of the Bank.
10		Estimated date by which such bonus shares would be credited/dispatched		Within 2 (two) months from the date of approval bythe Board of Directors i.e., on or before September 18, 2025.

Exhibit 99

 

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.

Website: https://www.hdfcbank.com, Tel.: 022- 6652 1000, Fax:022- 2496 0739

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30,2025

 

				(₹ in crore)
				Quarter ended												Year ended 31.03.2025
				30.06.2025				31.03.2025				30.06.2024
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Interest earned (a)+(b)+(c)+(d)			77470.20				77460.11				73033.14				300517.04
		a) Interest / discount on advances / bills			60192.64				60415.79				58714.88				238444.43
		b) Income on investments			15070.08				14427.17				12543.82				53319.69
		c) Interest on balances with Reserve Bank of India and other inter-bank funds			670.17				601.12				472.89				2506.31
		d) Others			1537.31				2016.03				1301.55				6246.61
2		Other Income (Refer note 11 and 12)			21729.83				12027.88				10668.11				45632.28
3		Total Income (1)+(2)			99200.03				89487.99				83701.25				346149.32
4		Interest expended			46032.23				45394.31				43196.00				177846.95
5		Operating expenses (i)+(ii)			17433.84				17556.98				16620.61				68174.89
		i) Employees cost			6157.97				6115.94				5848.88				23900.53
		ii) Other operating expenses			11275.87				11441.04				10771.73				44274.36
6		Total Expenditure (4)+(5) (excluding provisions and contingencies)			63466.07				62951.29				59816.61				246021.84
7		Operating Profit before provisions and contingencies (3)-(6)			35733.96				26536.70				23884.64				100127.48
8		Provisions (other than tax) and Contingencies (Refer note 9)			14441.63				3193.05				2602.06				11649.42
9		Exceptional items			—				—				—				—
10		Profit from ordinary activities before tax (7)-(8)-(9)			21292.33				23343.65				21282.58				88478.06
11		Tax Expense (Refer note 13)			3137.12				5727.51				5107.83				21130.70
12		Net Profit from ordinary activities after tax (10)-(11)			18155.21				17616.14				16174.75				67347.36
13		Extraordinary items (net of tax expense)			—				—				—				—
14		Net Profit for the period (12)-(13)			18155.21				17616.14				16174.75				67347.36
15		Paid up equity share capital (Face Value of ₹ 1/- each)			766.79				765.22				760.81				765.22
16		Reserves excluding revaluation reserves															496854.21
17		Analytical Ratios and other disclosures:
		(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil
		(ii) Capital Adequacy Ratio			19.88	%			19.55	%			19.33	%			19.55	%
		(iii) Earnings per share (EPS) (₹) (Face Value of ₹ 1/-each):
		(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			23.71				23.03				21.28				88.29
		(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			23.58				22.93				21.19				87.90
		(iv) NPA Ratios:
		(a) Gross NPAs			37040.80				35222.64				33025.69				35222.64
		(b) Net NPAs			12275.99				11320.43				9508.44				11320.43
		(c) % of Gross NPAs to Gross Advances			1.40	%			1.33	%			1.33	%			1.33	%
		(d) % of Net NPAs to Net Advances			0.47	%			0.43	%			0.39	%			0.43	%
		(v) Return on assets (average) - not annualized			0.48	%			0.48	%			0.47	%			1.91	%
		(vi) Net worth			508803.89				488899.89				444793.21				488899.89
		(vii) Outstanding Redeemable Preference Shares			—				—				—				—
		(viii) Capital Redemption Reserve			—				—				—				—
		(ix) Debt Equity Ratio			0.61				0.74				1.02				0.74
		(x) Total Debts to Total Assets			12.90	%			14.01	%			16.80	%			14.01	%

- Debt represents borrowings with residual maturity of more than one year. Total debts represents total borrowings of theBank.

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

 

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:

 

				(₹ in crore)
				Quarter ended												Year ended 31.03.2025
				30.06.2025				31.03.2025				30.06.2024
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Segment Revenue
a)		Treasury			28283.34				16910.36				15320.59				62227.48
b)		Retail Banking:			75191.18				73391.30				68054.79				283434.79
		(i) Digital Banking*			2.49				2.40				1.70				8.59
		(ii) Non Digital Banking			75188.69				73388.90				68053.09				283426.20
c)		Wholesale Banking			44790.22				49637.35				47173.95				191964.51
d)		Other Banking Operations			8693.64				9573.11				7994.16				35449.05
e)		Unallocated			—				—				—				—
		Total			156958.38				149512.12				138543.49				573075.83
		Less: Inter Segment Revenue			57758.35				60024.13				54842.24				226926.51
		Income from Operations			99200.03				89487.99				83701.25				346149.32
2		Segment Results$
a)		Treasury			12776.86				1230.69				1706.33				4605.36
b)		Retail Banking:			3381.70				8148.74				5821.28				27309.11
		(i) Digital Banking*			(0.20	)			0.02				(0.07	)			0.04
		(ii) Non Digital Banking			3381.90				8148.72				5821.35				27309.07
c)		Wholesale Banking			3698.39				10406.43				10776.18				44543.96
d)		Other Banking Operations			2016.76				4143.85				3556.54				14363.75
e)		Unallocated			(581.38	)			(586.06	)			(577.75	)			(2344.12	)
		Total Profit Before Tax			21292.33				23343.65				21282.58				88478.06
3		Segment Assets
a)		Treasury			1024344.73				991874.12				796772.25				991874.12
b)		Retail Banking:			1528135.60				1533890.27				1432329.21				1533890.27
		(i) Digital Banking*			88.04				81.15				60.68				81.15
		(ii) Non Digital Banking			1528047.56				1533809.12				1432268.53				1533809.12
c)		Wholesale Banking			1269139.82				1247937.97				1210807.95				1247937.97
d)		Other Banking Operations			110854.88				112358.81				102452.02				112358.81
e)		Unallocated			21601.63				24137.77				24888.10				24137.77
		Total			3954076.66				3910198.94				3567249.53				3910198.94
4		Segment Liabilities$
a)		Treasury			84025.64				83340.18				65421.51				83340.18
b)		Retail Banking:			2322644.57				2312515.85				2066184.21				2312515.85
		(i) Digital Banking*			93.51				86.16				65.58				86.16
		(ii) Non Digital Banking			2322551.06				2312429.69				2066118.63				2312429.69
c)		Wholesale Banking			966071.31				956136.34				917628.00				956136.34
d)		Other Banking Operations			9253.99				8513.18				8040.78				8513.18
e)		Unallocated			49441.01				48268.77				51292.76				48268.77
		Total			3431436.52				3408774.32				3108567.26				3408774.32
5		Capital, Employees stock options outstanding and Reserves			522640.14				501424.62				458682.27				501424.62
6		Total (4)+(5)			3954076.66				3910198.94				3567249.53				3910198.94

*Information about Digital Banking Segment reported as a sub-segment of RetailBanking Segment is related to Digital Banking Units of the Bank.

^$Segment Results andLiabilities for the period ended June 30, 2025 are after considering the impact of floating provisions in the respective segments.

BusinessSegments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelinesprescribed by the RBI. The Segment Assets and Segment Liabilities exclude transfers between segments and are transfer priced on a gross basis.

 

Notes :

 

1	Standalone Statement of Assets and Liabilities is given below:

 

 

2

The above standalone financial results have been approved by the Board of Directors at its meeting held onJuly 19, 2025. The financial results for the quarter ended June 30, 2025 have been subjected to a “Limited Review” by the joint statutory auditors of the Bank viz. Price Waterhouse LLP, Chartered Accountants andBatliboi & Purohit, Chartered Accountants. The financial results for the quarter ended June 30, 2024 were reviewed by the Bank’s joint statutory auditors - M M Nissim & Co LLP, Chartered Accountants and Price WaterhouseLLP, Chartered Accountants.

 

3

These financial results have been prepared in accordance with the recognition and measurement principles laiddown in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (“the RBI”)from time to time 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 (2) of the Securities and ExchangeBoard of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by the SEBI from time to time.

 

4

The Bank has applied its significant accounting policies in the preparation of these financial resultsconsistent with those followed in the annual financial statements for the year ended March 31, 2025. Any circular / direction issued by RBI is implemented prospectively when it becomes applicable, unless specifically required under thosecirculars / directions.

 

5	The figures for the quarter ended March 31, 2025 are the balancing figures between audited figures inrespect of the financial year 2024-25 and the published year to date figures upto December 31, 2024.

 

6	The Board of Directors at its meeting held on July 19, 2025, declared a special interim dividend of ₹ 5.00 per equity share pre-bonus issuance. Effect of the dividend has been reckoned in determining capital funds in thecomputation of capital adequacy ratio as at June 30, 2025.

 

7

The Board of Directors at its meeting held on July 19, 2025, approved issuance of bonus shares, in theproportion of 1:1, i.e. 1 (One) bonus equity share of ₹ 1 each for every 1 (One) fully paid-up equity share held as on therecord date, subject to statutory and regulatory approvals as applicable as well as approval of shareholders of the Bank to be obtained by way of postal ballot.

 

8	During the quarter ended June 30, 2025, the Bank allotted 1,56,91,972 equity shares, pursuant to theexercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

 

9	During the quarter ended June 30, 2025, the Bank has made a floating provision of ₹ 9,000.00 crore in line with the Board approved policy.

 

10	Details of loans transferred / acquired during the quarter ended June 30, 2025 as per RBI Master Directionon Transfer of Loan Exposures dated September 24, 2021 are given below:

 

Above excludes sale of written-off accounts.

The Bank has reversed the excess provision of₹ 34.83 crore to Profit and Loss account on sale of the aforesaid loans.

 

(ii)

Details of loans not in default transferred through assignment / participation are given below:

 

The loans transferred are not rated as these are to non-corporateborrowers.

 

(iii)

Details of ratings of Security Receipts (SRs) outstanding as on June 30, 2025 are given below:

 

^ Investment made in the SRs are guaranteed by Government of India. Pursuant to regulatory norms,the ARC shall obtain initial rating of SRs from an approved credit rating agency within a period of six months from the date of acquisition of assets by it.

 

(iv)

The Bank has not acquired any stressed loan and loan not in default.

 

11	Other income includes commission income from non-fund based bankingactivities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, dividends from subsidiaries and recoveries from accounts previously written off.

 

12

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 ₹ 2,500.00 crore and an offer for sale(“OFS”) of equity shares by the Bank, aggregating to ₹ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares of ₹ 10 each of HDBFS at ₹ 740/- per share, for a consideration aggregating to ₹ 10,000.00 crore. Consequently, the net gain to the Bank on sale of shares under the OFS is₹ 9,128.40 crore (before tax and net of estimated IPO related expenses) during the quarter ended June 30, 2025. As a result of the sale of shares by the Bankand fresh allotment of shares by HDBFS under the IPO, the holding of the Bank in HDBFS stood at 74.19% as on June 30, 2025 (94.32% as on March 31, 2025).

 

13	Provision for tax during the quarter ended June 30, 2025 is net of write back of provision no longerrequired of ₹ 1,144.46 crore, pursuant to favourable orders received.

 

14	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to currentperiod’s classification.

 

15	₹ 10 million = ₹ 1 crore

 

		Sashidhar Jagdishan
Place: Mumbai		Managing Director
Date: July 19, 2025		DIN-08614396

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.

Website: https://www.hdfcbank.com, Tel.: 022-6652 1000, Fax:022-2496 0739

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30,2025

 

				(₹ in crore)
				Quarter ended												Year ended 31.03.2025
				30.06.2025				31.03.2025				30.06.2024
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Interest earned (a)+(b)+(c)+(d)			87371.87				86779.34				81546.20				336367.43
		a) Interest / discount on advances / bills			64147.91				64006.90				61875.82				251953.60
		b) Income on investments			20817.17				19733.02				17474.07				73912.07
		c) Interest on balances with Reserve Bank of India and other inter-bank funds			826.44				761.74				636.42				3172.52
		d) Others			1580.35				2277.68				1559.89				7329.24
2		Other income (a)+(b)			45683.10				33489.42				35450.29				134548.50
		a) Premium and other operating income from insurance business			16073.37				25635.74				14606.73				78589.17
		b) Others (Refer note 6 and 8)			29609.73				7853.68				20843.56				55959.33
3		Total income (1)+(2)			133054.97				120268.76				116996.49				470915.93
4		Interest expended			47708.51				46986.21				44579.50				183894.20
5		Operating expenses (i)+(ii)+(iii)			49183.00				43903.80				46546.53				176605.07
		i) Employees cost			8897.46				8809.68				8289.07				34135.75
		ii) Claims and benefits paid and other expenses pertaining to insurance business			28072.92				22543.14				26752.55				94437.39
		iii) Other operating expenses			12212.62				12550.98				11504.91				48031.93
6		Total expenditure (4)+(5) (excluding provisions and contingencies)			96891.51				90890.01				91126.03				360499.27
7		Operating profit before provisions and contingencies (3)-(6)			36163.46				29378.75				25870.46				110416.66
8		Provisions (other than tax) and contingencies (Refer note 9)			15313.63				3805.36				3143.09				14174.61
9		Exceptional items			—				—				—				—
10		Profit from ordinary activities before tax and minority interest (7)-(8)-(9)			20849.83				25573.39				22727.37				96242.05
11		Tax expense			3759.40				6288.82				5539.32				22801.88
12		Net profit from ordinary activities after tax and before minority interest (10)-(11)			17090.43				19284.57				17188.05				73440.17
13		Extraordinary items (net of tax expense)			—				—				—				—
14		Net profit for the period before minority interest (12)-(13)			17090.43				19284.57				17188.05				73440.17
15		Less: Minority interest			832.52				449.69				713.20				2647.92
16		Net profit for the period (14)-(15)			16257.91				18834.88				16474.85				70792.25
17		Paid up equity share capital (Face value of ₹ 1/- each)			766.79				765.22				760.81				765.22
18		Reserves excluding revaluation reserves															517218.98
19		Analytical Ratios and other disclosures:
		(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil
		(ii) Earnings per share (EPS) (₹) (Face value of ₹ 1/-each):
		(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			21.23				24.62				21.67				92.81
		(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			21.12				24.52				21.59				92.39

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

 

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

 

				(₹ in crore)
				Quarter ended												Year ended 31.03.2025
				30.06.2025				31.03.2025				30.06.2024
Particulars				Unaudited				Audited (Refer note 5)				Unaudited				Audited
1		Segment Revenue
a)		Treasury			26104.21				16910.36				15320.59				62227.48
b)		Retail Banking:			75191.18				73391.30				68054.79				283434.79
		(i) Digital Banking*			2.49				2.40				1.70				8.59
		(ii) Non Digital Banking			75188.69				73388.90				68053.09				283426.20
c)		Wholesale Banking			44790.22				49637.35				47173.95				191964.51
d)		Other Banking Operations			8693.64				9573.11				7994.16				35449.05
e)		Insurance Business**			31619.24				26408.60				29632.63				107630.27
f)		Others^			4414.83				4372.17				3662.61				17136.34
g)		Unallocated			—				—				—				—
		Total			190813.32				180292.89				171838.73				697842.44
		Less: Inter Segment Revenue			57758.35				60024.13				54842.24				226926.51
		Income from Operations			133054.97				120268.76				116996.49				470915.93
2		Segment Results***
a)		Treasury			10597.73				1230.69				1706.33				4605.36
b)		Retail Banking:			3381.70				8148.74				5821.28				27309.11
		(i) Digital Banking*			(0.20	)			0.02				(0.07	)			0.04
		(ii) Non Digital Banking			3381.90				8148.72				5821.35				27309.07
c)		Wholesale Banking			3698.39				10406.43				10776.18				44543.96
d)		Other Banking Operations			2016.76				4143.85				3556.54				14363.75
e)		Insurance Business**			1644.92				1871.17				1360.81				5953.61
f)		Others^			91.71				358.57				83.98				1810.38
g)		Unallocated			(581.38	)			(586.06	)			(577.75	)			(2344.12	)
		Total Profit Before Tax and Minority Interest			20849.83				25573.39				22727.37				96242.05
3		Segment Assets
a)		Treasury			1024344.73				991874.12				796772.25				991874.12
b)		Retail Banking:			1528135.60				1533890.27				1432329.21				1533890.27
		(i) Digital Banking*			88.04				81.15				60.68				81.15
		(ii) Non Digital Banking			1528047.56				1533809.12				1432268.53				1533809.12
c)		Wholesale Banking			1269139.82				1247937.97				1210807.95				1247937.97
d)		Other Banking Operations			110854.88				112358.81				102452.02				112358.81
e)		Insurance Business**			390123.07				372256.74				341114.28				372256.74
f)		Others^			111848.31				109961.74				98174.13				109961.74
g)		Unallocated			21601.63				24137.77				24888.10				24137.77
		Total			4456048.04				4392417.42				4006537.94				4392417.42
4		Segment Liabilities***
a)		Treasury			84025.64				83340.18				65421.51				83340.18
b)		Retail Banking:			2322644.57				2312515.85				2066184.21				2312515.85
		(i) Digital Banking*			93.51				86.16				65.58				86.16
		(ii) Non Digital Banking			2322551.06				2312429.69				2066118.63				2312429.69
c)		Wholesale Banking			966071.31				956136.34				917628.00				956136.34
d)		Other Banking Operations			9253.99				8513.18				8040.78				8513.18
e)		Insurance Business**			374712.75				358568.57				329394.05				358568.57
f)		Others^			86751.07				86926.10				78346.75				86926.10
g)		Unallocated			49441.01				48268.77				51292.76				48268.77
		Total			3892900.34				3854268.99				3516308.06				3854268.99
5		Capital, Employees stock options outstanding, Reserves and Minority Interest			563147.70				538148.43				490229.88				538148.43
6		Total (4)+(5)			4456048.04				4392417.42				4006537.94				4392417.42

* Information about Digital Banking Segment reported as a sub-segment of RetailBanking Segment is related to Digital Banking Units of the Bank.

** Includes the operations of HDFC Life Insurance Company Limited (consolidated)(“HDFC Life”) and HDFC ERGO General Insurance Company Limited (“HDFC Ergo”).

*** Segment Results and Liabilities for the periodended June 30, 2025 are after considering the impact of floating provisions in the respective segments.

^ Includes the operations of theconsolidated entities of the Bank, not covered in any of the above segments.

Business Segments have been identified and reported taking into accountthe target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI. The Segment Assets and SegmentLiabilities exclude transfers between segments and are transfer priced on a gross basis.

 

Notes :

 

1	Consolidated Statement of Assets and Liabilities is given below:

 

 

2

The above financial results represent the consolidated financial results of HDFC Bank Limited, its subsidiaries(together referred to as the “Group”) and HDB Employee Welfare Trust (“EWT”). These financial results have been approved by the Board of Directors at its meeting held on July 19, 2025. The financial results for the quarterended June 30, 2025 have been subjected to a “Limited Review” by the joint statutory auditors of the Bank viz. Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants. The financial resultsfor the quarter ended June 30, 2024 were reviewed by the Bank’s joint statutory auditors - M M Nissim & Co LLP, Chartered Accountants and Price Waterhouse LLP, Chartered Accountants.

 

3

These financial results have been prepared in accordance with the recognition and measurement principles laiddown in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 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”) (Preparation of Financial Statements and Auditors Report of Insurance companies) Regulations, 2002 (“IRDAI Guidelines”) to the extentapplicable for insurance entities and other accounting principles generally accepted in India and these financial results are in compliance with the presentation and disclosure requirements of the Regulation 33 of the Securities and Exchange Boardof India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by the SEBI from time to time.

 

4

The Group has applied significant accounting policies in the preparation of these consolidated financialresults consistent with those followed in the annual consolidated financial statements for the year ended March 31, 2025. Any relevant circular / direction issued by the RBI and other regulator(s) is implemented prospectively when it becomesapplicable, unless specifically required under that circular / direction.

 

5	The figures for the quarter ended March 31, 2025 are the balancing figures between audited figures inrespect of the financial year 2024-25 and the published year to date figures upto December 31, 2024.

 

6

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 ₹ 2,500.00 crore and an offer for sale(“OFS”) of equity shares by the Bank, aggregating to ₹ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares of ₹ 10 each of HDBFS at ₹ 740/- per share, for a consideration aggregating to ₹ 10,000.00 crore. In the Consolidated Financials, profit on sale of investment is considered as the difference between the sale consideration and the Bank’s sharein the carrying amount of HDBFS’s net assets (to the extent of sale), as of the date of sale. Consequently, the net gain to the Bank in the Consolidated Financials, on sale of shares under the OFS is ₹ 6,949.27 crore (before tax and net of estimated IPO related expenses) during the quarter ended June 30, 2025.

As a result of the sale of shares by the Bank and fresh allotment of shares by HDBFS under the IPO, the holding of the Bank in HDBFS stood at74.19% as on June 30, 2025 (94.32% as on March 31, 2025).

 

7	During the quarter ended June 30, 2025, the Bank allotted 1,56,91,972 equity shares pursuant to theexercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

 

8	Other income includes commission income from non-fund based bankingactivities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, and recoveries from accounts previously written off.

 

9	During the quarter ended June 30, 2025, the Bank has made a floating provision of ₹ 9,000.00 crore in line with the Board approved policy.

 

10

In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures includingleverage ratio, liquidity coverage ratio and net stable funding ratio under the Basel III Framework. These disclosures would be available on the Bank’s website at the following link:https://www.hdfcbank.com/personal/resources/regulatory-disclosures. The disclosures have not been subjected to audit or review by the statutory auditors.

 

11	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to currentperiod’s classification.

 

12	₹ 10 million = ₹ 1 crore

 

		Sashidhar Jagdishan
Place: Mumbai		Managing Director
Date: July 19, 2025		DIN-08614396

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER ENDED JUNE 30, 2025

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter ended June 30, 2025, at its meeting held inMumbai on Saturday, July 19, 2025. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended June 30, 2025

The Bank’s net revenue was₹ 531.7 billion (including transaction gains of ₹ 91.3 billion from a partial divestment through an offer for sale in the recent IPO of its subsidiary HDB Financial Services Ltd.) for the quarter ended June 30, 2025 as against ₹ 405.1 billion for the quarter ended June 30, 2024.

Net interest income (interest earned less interest expended) for the quarter ended June 30, 2025 grew by 5.4% to ₹ 314.4 billion from₹ 298.4 billion for the quarter ended June 30, 2024. Core net interest margin was at 3.35% on total assets, reflectingassets repricing faster than deposits, as against 3.46% for the prior quarter ended March 31, 2025.

Other income(non-interest revenue) for the quarter ended June 30, 2025 was ₹ 217.3 billion. Thefour components of other income for the quarter ended June 30, 2025 were fees & commissions of ₹ 75.9 billion (₹ 70.5 billion in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 16.3 billion(₹ 14.0 billion in the corresponding quarter of the previous year), net trading and mark to market gain of ₹ 101.1 billion, including transaction gains of ₹ 91.3 billion mentioned above (gain of ₹ 2.2 billion in thecorresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend of ₹ 24.0 billion (₹ 20.1 billion in the corresponding quarter of the previous year).

Operating expenses for the quarter ended June 30, 2025 were₹ 174.3 billion, as against₹ 166.2 billion during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter, excluding the transaction gains mentioned above was at 39.6%.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

The Bank’s credit performance across all segments continues to remain steady, in a credit environmentthat remains benign. The Bank has considered this as an opportune stage to enhance its floating provisions, which are not specific to any portfolio, nor meant for any specific anticipated risks, but act as a countercyclical buffer for making thebalance sheet more resilient. Accordingly, the Bank has made floating provisions of ₹ 90.0 billion, and additional contingentprovisions of ₹ 17.0 billion during the quarter.

Provisions and contingencies for the quarter ended June 30, 2025 were ₹ 144.4 billion (including the floating provisions of ₹ 90.0 billion andadditional contingent provisions of ₹ 17.0 billion mentioned above), as against ₹ 26.0 billion for the quarter ended June 30, 2024.

Profit before tax (PBT) for the quarter ended June 30, 2025 was at ₹ 212.9 billion. Profit after tax (PAT) for the quarter was at₹ 181.6 billion, a growth of 12.2% over the quarter ended June 30, 2024.

Balance Sheet: As of June 30, 2025

Total balancesheet size as of June 30, 2025 was ₹ 39,541 billion as against ₹ 35,672 billion as of June 30, 2024.

The Bank’s average deposits were ₹ 26,576 billion for the June 2025 quarter, a growth of 16.4% over ₹ 22,831 billion for the June 2024 quarter, and 5.1% over₹ 25,280 billion for the March 2025 quarter.

The Bank’s average CASA deposits were₹ 8,604 billion for the June 2025 quarter, a growth of 6.1% over ₹ 8,106 billion for the June 2024 quarter, and 3.8% over ₹ 8,289 billionfor the March 2025 quarter.

Total EOP Deposits were at₹ 27,641 billion as of June 30, 2025, an increase of 16.2% over June 30, 2024. CASA deposits grew by 8.5% with savingsaccount deposits at ₹ 6,390 billion and current account deposits at ₹ 2,980 billion. Time deposits were at ₹ 18,271 billion, an increase of20.6% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 33.9% of total deposits as of June 30, 2025.

TheBank’s average advances under management, grossing up for transfers through inter-bank participation certificates, bills rediscounted and securitisation / assignment were ₹ 27,423 billion for the June 2025 quarter, a growth of 8.3% over₹ 25,327 billion for the June 2024 quarter, and a growth of 1.7% over₹ 26,955 billion for the March 2025 quarter.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

Gross advances were at ₹ 26,532 billion as of June 30, 2025, an increase of 6.7% over June 30, 2024. Advances under management grew by 8.0% over June 30, 2024. Retail loans grew by 8.1%, small and mid-market enterprises loans grew by 17.1% and corporate and other wholesale loans grew by 1.7%. Overseas advances constituted 1.7% of total advances.

Capital Adequacy:

The Bank’s total CapitalAdequacy Ratio (CAR) as per Basel III guidelines was at 19.9% as on June 30, 2025 (19.3% as on June 30, 2024) as against a regulatory requirement of 11.9%. Tier 1 CAR was at 17.8% and Common Equity Tier 1 Capital ratio was at 17.4% as ofJune 30, 2025. Risk-weighted Assets were at ₹ 27,158 billion.

DIVIDEND

The Board of Directors has declared aspecial interim dividend of ₹ 5 per equity share of ₹ 1, pre-bonus issuance.

BONUS

The Board of Directors have approved issuance of bonus shares in the proportion of 1:1, i.e. 1 bonus equity share of ₹ 1 each for every 1 fully paid-up equity share held as on the record date, subject to statutoryand regulatory approvals as applicable, and approval of shareholders of the Bank to be obtained by way of postal ballot.

NETWORK

As of June 30, 2025, the Bank’s distribution network was at 9,499 branches and 21,251 ATMs across 4,153 cities / towns as against 8,851 branches and21,163 ATMs across 4,081 cities / towns as of June 30, 2024. 51% of our branches are in semi-urban and rural areas. In addition, we have 15,322 business correspondents, which are primarily manned by Common Service Centres (CSC). The number ofemployees were at 2,18,822 as of June 30, 2025 (as against 2,13,069 as of June 30, 2024).

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

ASSET QUALITY

Gross non-performing assets were at 1.40% of gross advances as on June 30, 2025 (1.14% excluding NPAs in theagricultural segment), as against 1.33% as on March 31, 2025 (1.13% excluding NPAs in the agricultural segment), and 1.33% as on June 30, 2024 (1.16% excluding NPAs in the agricultural segment). Netnon-performing assets were at 0.47% of net advances as on June 30, 2025.

KEY SUBSIDIARIES

Amongst the Bank’s key subsidiaries, HDFC Life Insurance Company Ltd and HDFC ERGO General Insurance Company Ltd prepare their financial results inaccordance with Indian GAAP and other subsidiaries do so in accordance with the notified Indian Accounting Standards (‘Ind-AS’). The financial numbers of the subsidiaries mentioned herein below arein accordance with the accounting standards used in their standalone reporting under the applicable GAAP.

HDB Financial Services Ltd (HDBFSL), isa non-deposit taking NBFC in which the Bank holds a 74.2% stake. For the quarter ended June 30, 2025, HDBFSL’s net revenue was at ₹ 27.3 billion. Profit after tax for the quarter ended June 30, 2025 was₹ 5.7 billion compared to₹ 5.8 billion for the quarter ended June 30, 2024. The total loan book was ₹ 1,093 billion as on June 30, 2025. Stage 3 loans were at 2.56% of gross loans. Total CAR was at 20.2% with Tier-I CAR at 15.7%.

HDFC Life Insurance Company Ltd (HDFC Life), in which the Bank holds a 50.3% stake, is aleading life insurance solutions provider. Profit after tax for the quarter ended June 30, 2025 was ₹ 5.5 billion comparedto ₹ 4.8 billion for the quarter ended June 30, 2024, a growth of 14.4%.

HDFC ERGO General Insurance Company Ltd (HDFC ERGO), in which the Bank holds a 50.3% stake, offers a range of general insurance products. Profit aftertax for the quarter ended June 30, 2025 was ₹ 2.1 billion compared to ₹ 1.3 billion for the quarter ended June 30, 2024, a growth of 56.4%.

HDFC Asset Management Company Ltd (HDFC AMC), in which the Bank holds a 52.4% stake, is the Investment Manager to HDFC Mutual Fund, and offers acomprehensive suite of savings and investment products. For the quarter ended June 30, 2025, HDFC AMC’s Quarterly Average Assets Under Management were approximately ₹ 8,286 billion. Profit after tax for the quarter ended June 30, 2025 was₹ 7.5 billion compared to₹ 6.0 billion for the quarter ended June 30, 2024, a growth of 23.8%.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

HDFC Securities Ltd (HSL), in which the Bank holds a 94.4% stake, is amongst the leading brokingfirms. For the quarter ended June 30, 2025, HSL’s total revenue was ₹ 7.3 billion. Profit after tax for the quarterended June 30, 2025 was ₹ 2.3 billion, as against ₹ 2.9 billion for the quarter ended June 30, 2024.

CONSOLIDATED FINANCIAL RESULTS:

The Bank’s consolidated net revenue was₹ 853.5 billion for the quarter ended June 30, 2025. The consolidated profit after tax for the quarter ended June 30,2025 was ₹ 162.6 billion.

Note:

₹ = Indian Rupees

1 crore = 10 million

All figures and ratios are inaccordance with Indian GAAP unless otherwise specified.

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

We have included statements in this report which contain words or phrases such as “will”, “aim”, “will likely result”,“believe”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”,“goal”, “project”, “should”, “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements”. Actual results may differ materially from those suggestedby the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various bankingservices, our ability to realize all of the anticipated benefits of the Transaction, future levels of our non-performing/ impaired assets, our growth and expansion, the adequacy of our management of creditrisks and our provision/allowance for credit and investment losses, technological changes, the adequacy of our information technology and telecommunication systems, including against cybersecurity threats, negative publicity, volatility ininvestment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, ourability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short term funding sources and our exposure to market and operational risks. Bytheir nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from thosethat have been estimated.

		NEWS RELEASE		HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

 

In addition, other factors that could cause actual results to differ materially from those estimated bythe forward-looking statements contained in this document include, but are not limited to: geopolitical tensions between India and Pakistan, which have increased significantly following the deadly terrorist attack on tourists in Pahalgam in Jammuand Kashmir in April 2025, and have already impacted major treaties and diplomatic relations, with lingering risk of sudden escalation in military conflict between India and Pakistan; geopolitical tensions between India and China; general economicand political conditions; instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere,anti-terrorist or other attacks by the United States, a United States-led coalition or any other country, such as the joint strike launched by the United States and the United Kingdom in Yemen following theHouthis group’s attack on international ships in the Red Sea; the ongoing war between Russia and Ukraine; the geopolitical conflict between Israel and Hamas, and the escalation in conflict between Israel and Iran, including U.S. intervention,which have complicated the geopolitical landscape; military armament or social unrest in any part of India; the monetary and interest rate policies of the RBI; natural calamities, pandemics, inflation, deflation, unanticipated turbulence in interestrates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally; compliance with and changes in Indian and foreign laws and regulations, including tax, accounting, bankingregulations, insurance regulations and securities regulations; changes in competition and the pricing environment in India; regional or general changes in asset valuations; and uncertainties arising out of foreign trade and tariff policies followedby major global economies, such as the United States and China.

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HDFC Bank Ltd., Mumbai.

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madhu.chhibber@hdfcbank.com

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Investor Relations

HDFC Bank Ltd., Mumbai.

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investor.relations@hdfcbank.com