Margin compression from lag in deposit repricing
With 70% of assets floating and liabilities fixed, further rate cuts could widen the lead-lag impact, pressuring NIMs for several quarters.
HDFCBANK / Q1-FY26 / risks
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HDFC Bank · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
CASA market share loss may persist
CASA ratio declined post-merger and has not recovered; management attributes it to deposit prioritization, but reversal may take time.
Credit cost normalization risk
CFO noted credit cost will revert to mean over time, though no specific trigger was identified; any uptick could impact earnings.
Intense competition in mortgages and corporate lending
Management acknowledged aggressive pricing by PSU banks in mortgages and fine rates for corporates, limiting growth and margin expansion.