HDFC BANK LTD

For the period ended Oct 17, 2026. Filed Oct 19, 2026.

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Oct 17, 2026 · Filed Oct 19, 2026

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EX-99 · Notes:

Notes:

1	Standalone statement of Assets and Liabilities is given below:

(₹ in crore)
	As at30.09.2026	As at30.09.2025	As at31.03.2026
Particulars	Unaudited	Unaudited	Audited
CAPITAL AND LIABILITIES
Capital	1541.86	1536.37	1539.34
Employees stock options / units outstanding	5107.81	4183.53	4545.11
Reserves and surplus	577604.60	516688.69	556816.45
Deposits	3327448.93	2801788.77	3105250.48
Borrowings	489017.54	509597.05	489394.63
Other liabilities and provisions	177039.03	169213.96	207340.31
Total	4577759.77	4003008.37	4364886.32
ASSETS
Cash and balances with Reserve Bank of India	175139.57	133187.66	200679.37
Balances with banks and money at call and short notice	75234.53	31954.62	97786.99
Investments	923997.08	874321.25	884201.47
Advances	3195566.06	2746359.78	2937166.26
Fixed assets	14645.26	13854.09	14724.64
Other assets	193177.27	203330.97	230327.59
Total	4577759.77	4003008.37	4364886.32

2	Standalone statement of Cashflows is given below:

(₹ in crore)
Half year ended · Year ended31.03.2026
	30.09.2026		30.09.2025
Particulars	Unaudited		Unaudited		Audited
Cash flows from operating activities:
Profit after tax		38569.68		36796.49		74671.29
Add: Provision for income tax		12448.42		8918.91		20497.40
Profit before income tax		51018.10		45715.40		95168.69
Adjustments for:
Depreciation on fixed assets		1929.30		1812.01		3657.58
Profit on revaluation of investments		(1008.75)		(2087.57)		(1075.82)
Amortisation of premium / (discount) on investments		471.36		323.82		917.73
Profit on sale of fixed assets		(88.95)		(59.18)		(186.57)
Profit on sale of investment in subsidiary		—		(9128.40)		(9179.40)
Provision / charge for non performing assets		5768.39		5280.22		11416.80
Floating provisions		—		9000.00		9,000.00
Provision for standard assets and contingencies		864.99		3661.93		2972.78
Dividend from subsidiaries		(1951.66)		(1631.44)		(2242.21)
Employee stock options / units expense		982.07		1001.76		1971.07
		57984.85		53888.55		112420.65
Adjustments for:
Increase in investments		(38686.41)		(36613.85)		(49116.60)
Increase in advances		(264168.17)		(132032.33)		(328962.40)
Increase in deposits		222198.46		87073.88		390535.58
Decrease / (Increase) in other assets		33987.57		(4455.11)		(30222.30)
(Decrease) / Increase in other liabilities and provisions		(31167.76)		10062.76		49002.92
		(19851.46)		(22076.10)		143657.85
Direct taxes paid (net of refunds)		(9115.91)		(7565.91)		(20040.85)
Net cash flow from / (used in) operating activities		(28967.37)		(29642.01)		123617.00
Cash flows from investing activities:
Purchase of fixed assets		(1210.30)		(943.84)		(3143.53)
Proceeds from sale of fixed assets		124.31		257.39		429.76
Investment in subsidiaries		(1000.00)		(80.87)		(80.87)
Proceeds from sale of investment in subsidiary (net of expenses)		—		9755.00		9806.00
Dividend from subsidiaries		1951.66		1631.44		2242.21
Net cash flow from / (used in) investing activities		(134.33)		10619.12		9253.57
Cash flows from financing activities:
Proceeds from issue of share capital		1341.10		3589.34		5108.50
Repayments of Tier 1 and Tier 2 capital instruments		(10280.39)		—		—
Proceeds / (Repayments) of other borrowings (net)		9845.40		(38665.60)		(59472.25)
Dividend paid		(20021.05)		(20705.98)		(20705.98)
Net cash flow used in financing activities		(19114.94)		(55782.24)		(75069.73)
Effect of fluctuation in foreign currency translation reserve		124.38		376.73		1094.84
Net increase / (decrease) in cash and cash equivalents		(48092.26)		(74428.40)		58895.68
Cash and cash equivalents at the beginning of the year		298466.36		239570.68		239570.68
Cash and cash equivalents at the end of the period		250374.10		165142.28		298466.36

Cash and cash equivalents includes Cash and balances with Reserve Bank of India and Balances with banks and money at call and short notice.

The above standalone financial results have been approved by the Board of Directors at its meeting held on October 17, 2026. The financial results for the quarter and half year ended September 30, 2026 have been subjected to a “Limited Review” by the joint statutory auditors of the Bank viz. Batliboi & Purohit, Chartered Accountants and B S R & Co. LLP, Chartered Accountants.

These financial results have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standards specified under Section 133 of the Companies Act, 2013, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (“the RBI”) from time to time and other accounting principles generally accepted in India, and are in compliance with the presentation and disclosure requirements of Regulation 33 and Regulation 52 read with Regulation 63 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Regulations”) as amended including relevant circulars issued by the SEBI from time to time, to the extent applicable. Basis the nature of the Bank’s business, applicable ratios under the said regulations are disclosed.

The Bank has applied its significant accounting policies in the preparation of these financial results consistent with those followed in the annual financial statements for the year ended March 31, 2026. Any circulars / directions issued by RBI are implemented prospectively when it becomes applicable, unless specifically required under those circulars / directions.

6	During the quarter and half year ended September 30, 2026, the Bank has allotted 1,72,69,856 and 2,52,29,020 equity shares respectively, pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

7	During the half year ended September 30, 2025 and year ended March 31, 2026, the Bank made a floating provision of ₹ 9,000.00 crore in line with the Board approved policy.

8	Disclosure under resolution framework for COVID-19-related stress as at September 30, 2026, as per the Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025, are given below:

(₹ in crore)
Type of Borrower	Exposure toaccounts classifiedas Standardconsequent toimplementation ofresolution plan -Position as at theend of the previoushalf-year i.e.March 31,2026 (A)^	Of (A), aggregatedebt that slippedinto NPA duringthe half-yearendedSeptember 30,2026	Of (A) amountwritten off duringthe half-year#	Of (A) amountpaid by theborrowers duringthe half-year	Exposure toaccounts classifiedas Standardconsequent toimplementation ofresolution plan -Position as at theend of thishalf-year i.e.September 30,2026^
Personal Loans	1,967.45	18.93	4.78	257.97	1,690.55
Corporate persons*	173.47	0.23	0.01	13.71	159.53
Of which, MSMEs	15.29	0.18	—	2.50	12.61
Others	131.29	1.51	0.41	27.41	102.37
Total	2,272.21	20.67	5.20	299.09	1,952.45

*	As defined in Section 3(7) of the Insolvency and Bankruptcy Code, 2016.

#	Represents debt that slipped into NPA and was subsequently written off during the half- year ended September 30, 2026.

^	Excludes other facilities to the borrowers aggregating to ₹ 182.49 crore as of September 30, 2026 and ₹ 193.59 crore as of March 31, 2026 which have not been restructured.

9	Disclosures on the details of loans transferred / acquired and co-lending arrangements during the quarter ended September 30, 2026, as per the Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025, are given below:

(i)	Details of non-performing assets (NPAs) transferred:

(₹ in crore except number of accounts)
Particulars	To AssetReconstructionCompanies(ARCs)	Topermittedtransferees	To othertransferees
Number of accounts	—	—	—
Aggregate principal outstanding of loans transferred	—	—	—
Weighted average residual tenor of the loans transferred (in years)	—	—	—
Net book value of loans transferred (at the time of transfer)	—	—	—
Aggregate consideration	—	—	—
Additional consideration realised in respect of accounts transferred in earlier years	2.80	—	—

(ii)	Details of loans not in default transferred through assignment are given below:

Particulars	Value
Aggregate amount of loans transferred (₹ in crore)	4,960.74
Weighted average residual maturity (in years)	8.59
Weighted average holding period (in years)	2.41
Retention of beneficial economic interest	10%
Tangible security coverage	100%

The loans transferred are not rated as these are tonon-corporate borrowers.

(iii)

The Bank has not acquired any loans not in default.

(iv)	The Bank has not acquired any stressed loans (Non-performing assets and Special Mention Accounts).

(v)	The Bank has not transferred any Special Mention Accounts.

(vi)	Details of rating-wise distribution of Security Receipts (SRs) held by the Bank at September 30, 2026 are given below:

(₹ in crore)
Rating	Rating Agency	Recovery rating	Gross Value ofOutstandingSRs
RR1	ICRA	100% - 150%	111.15
RR2	India Ratings	75% - 100%	27.26
RR4	India Ratings	25% - 50%	34.78
RR5	India Ratings	Upto 25%	125.47
RR5	CRISIL	Upto 25%	27.34
Unrated			720.00
		Total	1,046.00

(vii)

The Bank has not entered into any co-lending transactions during the quarter.

10	Disclosure related to Project Finance for the quarter ended September 30, 2026, as per the Reserve Bank of India (Commercial Banks - Financial Statements: Presentation and Disclosures) Directions, 2025 dated November 28, 2025 is given below:

Item Description	Number ofaccounts	Totaloutstanding(₹ in crore)
1. Projects under implementation accounts at the beginning of the quarter	440	21,509.49
2. Projects under implementation accounts sanctioned during the quarter	139	2,124.48
3. Projects under implementation accounts where DCCO has been achieved during the quarter	103	4,547.82
4. Projects under implementation accounts at the end of the quarter*	469	21,246.56
5. Out of ‘4’ – accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be has been invoked	61	3,506.97
5.1. Out of ‘5’ – accounts in respect of which Resolution plan has been implemented	52	1,885.50
5.2. Out of ‘5’ – accounts in respect of which Resolution plan is under implementation	9	1,621.47
5.3. Out of ‘5’ – accounts in respect of which Resolution plan has failed	—	—
6. Out of ‘5’, accounts in respect of which resolution process involving extension in original / extended DCCO, as the case may be has been invoked due to change in scope and size of the project	2	85.26
7. Out of ‘5’, account in respect of which cost overrun associated with extension in original / extended DCCO, as the case may be, was funded	—	—
7.1. Out of ‘7’, accounts where SBCF was sanctioned during financial closure and renewed continuously	—	—
7.2. Out of ‘7’, accounts where SBCF was not pre-sanctioned or renewed continuously	—	—
8. Out of ‘4’ – accounts in respect of which resolution process not involving extension in original / extended DCCO, as the case may be has been invoked	—	—
8.1. Out of ‘8’ – accounts in respect of which Resolution plan has been implemented	—	—
8.2. Out of ‘8’ – accounts in respect of which Resolution plan is under implementation	—	—
8.3. Out of ‘8’ – accounts in respect of which Resolution plan has failed	—	—

*Excludes 7 accounts where repayment was completed prior to the achievement of DCCO, and therefore no longer form part of the projects under implementation accounts at the end of the quarter.

11	Other income includes commission income from non-fund based banking activities, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments, dividends from subsidiaries and recoveries from accounts previously written off.

On June 25, 2025, the Bank’s subsidiary company, HDB Financial Services Limited (“HDBFS”) launched its initial public offering (“IPO”), comprised of a fresh issuance of equity shares aggregating to ₹ 2,500.00 crore and an offer for sale (“OFS”) of equity shares by the Bank, aggregating to ₹ 10,000.00 crore. Under the OFS, the Bank divested 13,51,35,135 equity shares of ₹ 10/- each of HDBFS at ₹ 740/- per share, for a consideration aggregating to ₹ 10,000.00 crore. Consequently, during the half year ended September 30, 2025, the net gain recognised by the Bank on sale of shares under the OFS was ₹ 9,128.40 crore (before tax and net of estimated IPO related expenses). For the year ended March 31, 2026, the net gain recognised by the Bank on sale of shares under the OFS was ₹ 9,179.40 crore (before tax and net of IPO related expenses).

13	Provision for tax for the half year ended September 30, 2025 and year ended March 31, 2026 is net of write back of provision no longer required of ₹ 1,144.46 crore, pursuant to favourable orders received.

As intimated to the Stock Exchanges on September 26, 2025, the Bank’s branch at the Dubai International Financial Centre (“DIFC Branch”) received a decision notice dated September 25, 2025 from the Dubai Financial Services Authority (“DFSA”), prohibiting, amongst other things, the branch from soliciting or conducting business with new clients for specified financial services. The prohibition does not affect servicing of existing customers and will remain in place until otherwise amended or revoked in writing by DFSA. The Bank has taken steps to comply with the directives in the above-referred notice.

The business undertaken at the DIFC Branch is not material to the Bank’s operations or its financial position and accordingly no material impact is expected with respect to the overall operations or financial position of the Bank.

15	Figures of the previous periods have been regrouped / reclassified wherever necessary to conform to current period’s classification.

16	₹ 10 million = ₹ 1 crore

	Sashidhar Jagdishan
Place: Mumbai	Managing Director
Date: October 17, 2026	DIN-08614396

NEWS RELEASE

HDFC BANK LIMITED, Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018. CIN: L65920MH1994PLC080618

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