Mumbai, October 27, 2026 (Yes Punjab News)
HDFC Bank, India’s largest private-sector lender, on Tuesday announced a leadership transition, with Anup Bagchi taking over as Managing Director and Chief Executive Officer following the completion of Sashidhar Jagdishan’s tenure.
In a regulatory filing, the bank said Jagdishan vacated office at the close of business on October 26, 2026, while Bagchi assumed charge with effect from October 27.
The bank thanked Jagdishan for his strategic vision and commitment, crediting his leadership with strengthening its performance, organisational culture and customer-focused approach. It also acknowledged his role in the completion of one of corporate India’s largest mergers.
Bagchi takes over as the lender navigates a mixed earnings environment and scrutiny over an internal review into the possible disclosure of confidential information.
Earlier this month, HDFC Bank reported a standalone net profit of ₹19,610 crore for the second quarter of FY27, marking a 5.2 per cent increase year-on-year but falling short of analysts’ expectations.
Net interest income rose 9.7 per cent year-on-year to ₹34,619 crore, below the estimated ₹34,991 crore. The bank’s net interest margin stood at 3.16 per cent.
The lender attributed pressure on its performance to higher provisions and weaker-than-expected net interest income, even as loans and deposits recorded robust growth.
Separately, the bank confirmed that an internal review was underway into a possible leak of confidential information. The clarification followed reports earlier this month alleging that two senior executives had disclosed sensitive information.
“In line with our policies, an internal review into this matter is currently underway to gather and evaluate all relevant facts,” a bank spokesperson said, adding that the lender would not comment further while the process continued.
“Appropriate action will be taken based on the findings, once the review is complete,” the spokesperson said.
The leadership transition follows other senior-level changes at the bank this year. In March, then-chairman Atanu Chakraborty resigned, citing differences between his personal values and certain practices at the bank.
Deputy Managing Director Kaizad Bharucha has also sought to cease his services effective December 31, submitting a formal request to step down at the close of business.
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