HDFC Bank shares rise, m-cap swells Rs 12,027 crore as Anup Bagchi named MD & CEO

HDFC Bank Ltd shares rose 2% in Monday's trade as the RBI announced Anup Bagchi as the next MD and CEO at the bank. The private lender also gained as it reported strong growth in advances and deposits for the September 2026 quarter.

The bank's average advances under management grew around 14% year-on-year (YoY) to Rs 31,872 billion, while average deposits increased 16.8% to Rs 31,664 billion.

Nomura Holdings said, "The RBI's approval of Anup Bagchi as MD & CEO from October 27 removes the succession overhang on which we had excluded it, and an external appointment opens scope for a strategic reset.  Our top picks are HDFC Bank, Kotak Mahindra Bank and ICICI Bank among large banks, and IDFC First and IndusInd among mid-tier banks (all rated Buy)."

The bank's period-end advances under management stood at around Rs 33,075 billion as of September 30, 2026, marking a 15.3% YoY increase. Gross advances at the end of the quarter stood at approximately Rs 32,195 billion, up 16.3% from Rs 27,692 billion a year earlier.

HDFC Bank shares rose 2.04% from the previous close of Rs 719.35 to hit a high of Rs 734 in Monday's trade.

The bank's market capitalisation increased to Rs 11,21,163.31 crore from Rs 11,09,136.80 crore, marking an increase of Rs 12,026.51 crore.

On the deposits side, average CASA deposits rose 10.7% YoY to Rs 9,712 billion, while average time deposits increased 19.7% to Rs 21,952 billion. Period-end deposits stood at around Rs 33,275 billion as of September 30, up 18.8% from Rs 28,018 billion in the year-ago period.

Period-end CASA deposits grew 10.8% YoY to approximately Rs 10,520 billion, while period-end time deposits rose 22.8% to around Rs 22,755 billion.

HDFC Bank also said it mobilised foreign currency deposits aggregating to $1.115 billion under the Reserve Bank of India's swap facility for FCNR(B) deposits introduced in June 2026. The bank also extended loan facilities aggregating to $5.7 billion against these deposits.

The results for the bank as of September 30, 2026, will be subject to a limited review by its statutory auditors.