Anup Bagchi Takes Charge as HDFC Bank CEO

Anup Bagchi assumed charge as Managing Director and Chief Executive Officer (MD & CEO) of HDFC Bank on 27 October 2026. The Reserve Bank of India approved his appointment on 1 October 2026 for a three-year term ending on 26 October 2029. He succeeded Sashidhar Jagdishan, whose tenure ended on 26 October 2026.

Appointment and leadership transition

Before joining HDFC Bank as MD & CEO, Bagchi held senior positions at ICICI Bank and ICICI Prudential Life Insurance. Deputy Managing Director Kaizad Bharucha is due to leave HDFC Bank by the end of December 2026. Puneet Sharma is scheduled to become Chief Financial Officer on 1 December 2026, succeeding Srinivasa Vaidyanathan.

HDFC Bank’s financial position

HDFC Bank reported standalone net profit of ₹19,510 crore for the July–September quarter of FY 2026–27, a 4.7% year-on-year increase. Net interest income rose 9.7% to ₹34,620 crore. Gross advances grew 16.3% year-on-year to ₹32.20 lakh crore as at 30 September 2026, while total deposits increased 18.8% to ₹33.27 lakh crore.

Deposits and net interest margin

Current account and savings account (CASA) deposits grew 10.8% year-on-year and formed 31.6% of total deposits at the end of September 2026. Time deposits increased 22.8% to ₹22.76 lakh crore. The net interest margin, which measures the spread between interest earned and interest paid relative to earning assets, was 3.16% in the September quarter, compared with 3.46% a year earlier. HDFC Bank’s credit-to-deposit ratio was around 96% at the end of September 2026.

Important Facts for Exams

• The Reserve Bank of India is India’s central bank and regulates banks under the Banking Regulation Act, 1949.
• CASA refers to current account and savings account deposits held by a bank.
• Net interest income is the difference between interest income and interest expense.
• HDFC Bank merged with its parent housing finance company, Housing Development Finance Corporation, in 2023.

Bagchi’s three-year term at HDFC Bank runs from 27 October 2026 to 26 October 2029. The bank’s September-quarter figures included ₹780 crore in treasury trading gains and ₹18,970 crore in operating expenses.