With FY25 being the first full year of the merger of HDFC Ltd. into HDFC Bank Ltd. and having built upon it, HDFC Bank, India’s largest private sector lender, is now eyeing sizeable growth in the future, a top executive said.
“The successful playing out of the merger synergies, the reduction in the credit deposit ratio and the large-scale mobilisation of deposits, all constitute tailwinds for the bank,” Sashidhar Jagdishan, Managing Director and Chief Executive Officer, HDFC Bank Ltd said in the bank’s annual report which was released on Monday.
“To use a cricketing analogy, we focused on taking singles in the year that concluded and are now positioned to go for the boundaries,” he said.
He said as a merged entity, the HDFC Bank Group has several key subsidiaries with businesses in life as well as general insurance, mutual funds and brokerage, positioning it as a strong financial services conglomerate.
“The mortgage business which was a key component of the merger, has grown from strength to strength and is now the largest in the country. This portfolio has also been a catalyst for increased cross-selling opportunities within the HDFC Bank Group,” he said.
Stating that more than 95% of the incremental home loan customers were now opening Current Account Savings Accounts with the bank, with over half of them opting for additional product offerings, he said this had enhanced customer convenience.
He said the Bank’s NBFC (Non-Banking Financial Company) subsidiary, HDB Financial Services Ltd was recently listed in accordance with regulatory requirements.
Mr. Jagdishan said that the bank’s cybersecurity measures were focused on ensuring the highest level of protection against cyber threats, with proactive monitoring and automated incident response capabilities, enhanced network visibility and a zero-trust security model.
“We remain focused on being a cyber-resilient, regulatorily compliant and trusted institution that can adapt and succeed in the emerging risk landscape,” he added.
He said over the last four plus years, the bank had worked tirelessly on scaling, fortifying and modernising its technology backbone through enhanced investments on resources and collaboration with key partners and the results were now visible.
“Our core now seamlessly supports scalability and resiliency has been built by design. Our focus to further modernise through our ‘Hollow the Core’ programme is progressing well,” he added.
Mr. Jagdishan said in line with digital adoption GenAI would play a central role on “how we innovate, stay resilient and create value for the future.”
Published – July 14, 2025 11:56 pm IST
