HDFC Bank

HDFC Bank reported FY26 results with loan growth of 12%Current 12%. Reported change: +6.5pp YoY. (vs 5.5% last year) and deposit growth of 14.4%Current 14.4%. Reported change: +2.4pp YoY., outpacing credit growth. Net income grew 11%Current reported value: 11%. No comparable prior figure is available in the source record. and EPS grew 10%Current reported value: 10%. No comparable prior figure is available in the source record. (vs 3% last year). NIM compressed due to faster asset repricing, but ROA remained stable at 1.9%Current reported value: 1.9%. No comparable prior figure is available in the source record. aided by cost efficiencies (cost-to-income down to 39.5%Current 39.5%. Reported change: -100bps YoY.) and lower credit costs. Management highlighted strong customer acquisition (6-8 million/year), tech investments (~$1B), and AI platform with 5 use cases in production. Guidance: loan growth momentum to continue but tempered by geopolitical risks; focus on ROA and EPS rather than NIM. Risk: geopolitical fallout could slow growth and pressure asset quality.