HDFC Bank has informed stock exchanges that its board of directors will meet on Saturday, October 17, to consider the bank’s unaudited standalone and consolidated financial results for the quarter and half year ending September 30, 2026.
The intimation, filed with the exchanges, also stated that the trading window for the bank’s securities will remain closed from Thursday, September 24, to Monday, October 19. The closure applies to designated employees and their immediate relatives, in line with the bank’s share dealing code.
The results will be the first the board has taken up since chief executive Sashidhar Jagdishan announced on August 29 that he will not seek reappointment when his current term ends on October 26. His departure closes a six-year tenure that included the bank’s merger with Housing Development Finance Corporation.
HDFC Bank CEO transition
Jagdishan’s exit follows a period of heightened scrutiny for the bank’s leadership. Non-executive chairman Atanu Chakraborty resigned in March, citing what he described as practices within the bank that were not in line with his personal values and ethics. His resignation letter did not name specific individuals or incidents.
HDFC Bank commissioned an external review by US law firm Wilson Sonsini Goodrich & Rosati and Indian firm Wadia Ghandy & Co. The review examined board records, related communications and interviews with independent directors, Jagdishan and senior management. It found that the concerns raised by Chakraborty were not substantiated.
In his message to shareholders in the bank’s FY26 annual report, Jagdishan called the resignation a challenging event for the lender and reiterated that the review had not found evidence to support the allegations.
HDFC Bank Q1 FY27 results
The governance issues have played out against a backdrop of steady financial performance. HDFC Bank’s net profit for the June quarter rose 4.98% year-on-year to Rs 19,059.72 crore. Net interest income grew 6.7% to Rs 33,534 crore, with net interest margin at 3.26% on total assets.
Average deposits grew 13.3% year-on-year, while average gross advances rose 13.4%. Asset quality weakened marginally, with the gross non-performing asset ratio at 1.17% and the net non-performing asset ratio at 0.41%, both up slightly from the previous quarter.
What lies ahead
With Jagdishan’s term ending October 26, the bank’s board faces the task of identifying a successor. The bank has said it intends to fast-track the process, though the appointment of a new chief executive at a lender of HDFC Bank’s size typically involves regulatory approval from the Reserve Bank of India in addition to board and shareholder processes.
The October 17 board meeting will be closely watched, both for the quarterly numbers and for any further disclosures on the succession process.
HDFC share price today
HDFC’s share price has increased 0.39% as of intraday on September 22. The company’s share price increased 1.98% in the past month. However, HDFC’s share price has declined 22.92% in the last year.