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Standalone Statement of Assets and Liabilities is given below:

Standalone Statement of Cashflows is given below:

The above standalone financial results have been approved by the Board of Directors at its meeting held on April 19, 2025. The financial results for the year ended March 31, 2025 have been subjected to an audit by the joint statutory auditors of the Bank viz. Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants. The financial results for the year ended March 31, 2024 were audited by the Bank’s joint statutory auditors - M M Nissim & Co LLP, Chartered Accountants and Price Waterhouse 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 the Regulation 33 and Regulation 52 read with Regulation 63 (2) 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.

The RBI, vide its master direction dated September 12, 2023, issued revised norms for the classification, valuation and operation of investment portfolio of banks, which became applicable from April 01, 2024. While hitherto, the investment portfolio was classified under the held to maturity (HTM), available for sale (AFS) and held for trading (HFT) categories, the revised norms bring in a principle-based classification of investment portfolio and a symmetric treatment of fair value gains and losses. In accordance with the revised norms and the Bank’s board approved policy, the Bank has classified its investment portfolio as on April 01, 2024 under the categories of held to maturity (HTM), available for sale (AFS), subsidiaries, associates and joint ventures and fair value through profit and loss (FVTPL) with held for trading (HFT) as a sub-category of FVTPL, and from that date, measures and values the investment portfolio under the revised framework. On transition to the framework on April 01, 2024, the Bank has recognised a net gain of ₹ 482.87 crore (net of tax of ₹ 127.00 crore) which has been credited to general reserve, in accordance with the said norms. The impact of the revised framework for the period subsequent to the transition is not ascertainable and as such the income / profit or loss from investments for the quarter and year ended March 31, 2025 is not comparable with that of the previous period/s. Except for the foregoing, 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, 2024. Any circular / direction issued by RBI is implemented prospectively when it becomes applicable, unless specifically required under that circular / direction.

The figures of the last quarter in each of the financial years are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the respective financial year.

The Board of Directors at its meeting held on April 19, 2025, proposed a dividend of ₹ 22.00 per share (previous year: ₹ 19.50 per share), subject to approval of the members at the ensuing Annual General Meeting. Effect of the proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratios as at March 31, 2025 and March 31, 2024.

The Board of Directors at its meeting held on April 04, 2022, approved a composite Scheme of amalgamation (“Scheme”), for the amalgamation of: (i) erstwhile HDFC Investments Limited (“eHDFC Investments”) and erstwhile HDFC Holdings Limited (“eHDFC Holdings”), with and into erstwhile Housing Development Finance Corporation Limited (“eHDFC Limited”); and thereafter (ii) eHDFC Limited into HDFC Bank Limited (“Bank”), and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013 and other applicable laws including the rules and regulations. The Scheme was approved by the shareholders at the National Company Law Tribunal (“NCLT”) convened meeting of the shareholders of the Bank held on November 25, 2022. The NCLT, in accordance with Sections 230 to 232 of the Companies Act, 2013 and rules thereunder, vide its order dated March 17, 2023 sanctioned the Scheme. Upon receipt of all requisite approvals, the Bank filed form INC 28 with Registrar of Companies on July 01, 2023 and accordingly, the scheme became effective on July 01, 2023. As per the Scheme, the appointed date for the amalgamation of eHDFC Limited with and into the Bank is the same as effective date of the Scheme i.e. July 01, 2023. The results for the year ended March 31, 2025 include the operations of eHDFC Limited which amalgamated with and into HDFC Bank on July 01, 2023 and hence are not comparable with results for the year ended March 31, 2024.

During the quarter and year ended March 31, 2024, in order to comply with the condition imposed by the RBI in relation to the Scheme, the Bank sold 14,01,72,180 equity shares of HDFC Credila Financial Services Ltd (“HDFC Credila”), for a consideration of ₹ 9,552.73 crore, resulting in gain of ₹ 7,341.42 crore (net of tax ₹ 5,526.26 crore). Consequent to the aforesaid sale, HDFC Credila ceased to be a subsidiary of the Bank with effect from March 19, 2024.

During the year ended March 31, 2025, the Board of Directors of the Bank approved the sale of 100.00% stake in HDFC Education and Development Services Private Ltd (“HEADS”), a subsidiary of eHDFC Limited that became a subsidiary of the Bank upon the Scheme becoming effective, for a consideration of ₹ 192.00 crore, in order to comply with the condition imposed by the RBI in relation to the Scheme. Accordingly, the Bank has divested its entire stake in HEADS.

During the year ended March 31, 2025, the Bank has been allotted 16,13,176 equity shares of HDFC Securities Limited (“HSL”), subscribed through a rights issue for a consideration of ₹ 953.23 crore. The Bank’s shareholding in HSL stood at 94.55% as at March 31, 2025.

During the year ended March 31, 2025, the Bank has been allotted 44,20,059 equity shares of HDFC Ergo General Insurance Limited (“HDFC Ergo”), subscribed through a rights issue for a consideration of ₹ 289.07 crore. The Bank’s shareholding in HDFC Ergo stood at 50.33% as at March 31, 2025.

During the year ended March 31, 2025, the Bank has acquired 69,330 equity shares in HDFC Capital Advisors Limited (“HCAL”) for consideration of ₹ 67.47 crore. The Bank’s shareholding in HCAL stood at 89.34% as at March 31, 2025.

During the quarter and year ended March 31, 2025, the Bank allotted 39,06,130 and 5,53,11,012 equity shares respectively, pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

Pursuant to clarification received from the RBI regarding provisioning requirement towards Investments in Alternate Investment Funds (AIFs), the Bank has reassessed the provision thereon. Accordingly, during the quarter ended September 30, 2024, the Bank reversed provision of ₹ 679.52 crore in respect of the investments in AIFs and the provision held as at September 30, 2024 was ₹ 354.97 crore. As at March 31, 2025, provision held thereon is ₹ 288.25 crore.

During the quarter and year ended March 31, 2025, the Bank made a floating provision of Nil (previous year: ₹ 10,900.00 crore) in line with the Board approved policy.

Details of resolution plan implemented under the Resolution Framework for COVID-19 related Stress as per RBI circulars dated August 06, 2020 (Resolution Framework 1.0) and May 05, 2021 (Resolution Framework 2.0) as at March 31, 2025 are given below:

Details of loans transferred / acquired during the quarter ended March 31, 2025 as per RBI Master Direction on Transfer of Loan Exposures dated September 24, 2021 are given below:

Details of non-performing assets (NPAs) transferred:

Details of loans not in default transferred through assignment / participation are given below:

Details of ratings of Security Receipts (SRs) outstanding as on March 31, 2025 are given below:

The Bank has not acquired any stressed loan and loan not in default.

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. Other income for the quarter ended December 31, 2024 and year ended March 31, 2025, includes the reversal of service tax expense provision that is no longer required of ₹ 477.56 crore.

Provision for tax during the quarter and year ended March 31, 2024, is net of write back of provision no longer required of ₹ 3,817.39 crore and ₹ 6,325.04 crore respectively, pursuant to favourable orders received.

Pursuant to approvals by the Board of the directors of the Bank and its subsidiary company HDB Financial services Limited (“HDBFS”), HDBFS filed Draft Red Herring Prospectus dated October 30, 2024 with SEBI, BSE Limited and National Stock Exchange of India Limited, in connection with an Initial Public Offering (“IPO”) of equity shares of face value of ₹ 10/- each of HDBFS. The IPO is comprised of a fresh issuance of equity shares aggregating up to ₹ 2,500.00 crore and an offer for sale of equity shares aggregating up to ₹ 10,000.00 crore by the Bank and is subject to applicable law, market conditions, receipt of necessary approvals / regulatory clearances and other considerations.

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

₹ 10 million = ₹ 1 crore

Place: Mumbai

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Consolidated Statement of Assets and Liabilities is given below:

Consolidated Statement of Cashflows is given below:

The above financial results represent the consolidated financial results of HDFC Bank Limited, its subsidiaries (together referred to as the “Group”) and HDB Employee Welfare Trust (“EWT”). These financial results have been approved by the Board of Directors at its meeting held on April 19, 2025. The financial results for the year ended March 31, 2025 have been subjected to an audit by the joint statutory auditors of the Bank viz. Price Waterhouse LLP, Chartered Accountants and Batliboi & Purohit, Chartered Accountants. The financial results for the year ended March 31, 2024 were audited by the Bank’s joint statutory auditors - M M Nissim & Co LLP, Chartered Accountants and Price Waterhouse 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, the Insurance Regulatory and Development Authority of India (“IRDAI”) (Preparation of Financial Statements and Auditors Report of Insurance companies) Regulations, 2002 (“IRDAI Guidelines”) to the extent applicable for insurance entities and other accounting principles generally accepted in India and these financial results are in compliance with the presentation and disclosure requirements of the Regulation 33 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.

The RBI, vide its master direction dated September 12, 2023, issued revised norms for the classification, valuation and operation of investment portfolio of banks, which became applicable from April 01, 2024. While hitherto, the investment portfolio was classified under the held to maturity (HTM), available for sale (AFS) and held for trading (HFT) categories, the revised norms bring in a principle-based classification of investment portfolio and a symmetric treatment of fair value gains and losses. In accordance with the revised norms and the Bank’s board approved policy, the Bank classified its investment portfolio as on April 01, 2024 under the categories of held to maturity (HTM), available for sale (AFS), subsidiaries, associates and joint ventures and fair value through profit and loss (FVTPL) with held for trading (HFT) as a sub-category of FVTPL, and from that date, measures and values the investment portfolio under the revised framework. For the purpose of consolidation, all the subsidiaries of the Bank and EWT have followed the revised framework of the Bank except for HDFC Life insurance Company Limited (“HDFC Life”) and HDFC Ergo General Insurance Company Limited (“HDFC Ergo”), (the subsidiaries regulated by IRDAI), which continue to follow the IRDAI guidelines. On transition to the framework on April 01, 2024, the group recognised a net gain of ₹ 1,113.78 crore (net of tax of ₹ 405.86 crore and minority interest of ₹ 914.25 crore) which has been credited to general reserve, in accordance with the said norms. The impact of the revised framework for the period subsequent to the transition is not ascertainable and as such the income / profit or loss from investments for the quarter and year ended March 31, 2025 is not comparable with that of the previous period/s. Except for the foregoing, the Group has applied significant accounting policies in the preparation of these consolidated financial results consistent with those followed in the annual consolidated financial statements for the year ended March 31, 2024. Any relevant circular / direction issued by the RBI and other regulator(s) is implemented prospectively when it becomes applicable, unless specifically required under that circular / direction.

The figures of the last quarter in each of the financial years are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the respective financial year.

The Board of Directors at its meeting held on April 04, 2022, approved a composite Scheme of amalgamation (“Scheme”), for the amalgamation of: (i) erstwhile HDFC Investments Limited (“eHDFC Investments”) and erstwhile HDFC Holdings Limited (“eHDFC Holdings”), with and into erstwhile Housing Development Finance Corporation Limited (“eHDFC Limited”); and thereafter (ii) eHDFC Limited into HDFC Bank Limited (“Bank”), and their respective shareholders and creditors, under Sections 230 to 232 of the Companies Act, 2013 and other applicable laws including the rules and regulations. The Scheme was approved by the shareholders at the National Company Law Tribunal (“NCLT”) convened meeting of the shareholders of the Bank held on November 25, 2022. The NCLT, in accordance with Sections 230 to 232 of the Companies Act, 2013 and rules thereunder, vide its order dated March 17, 2023 sanctioned the Scheme. Upon receipt of all requisite approvals, the Bank filed form INC 28 with Registrar of Companies on July 01, 2023 and accordingly, the scheme became effective on July 01, 2023. As per the Scheme, the appointed date for the amalgamation of eHDFC Limited with and into the Bank is the same as effective date of the Scheme i.e. July 01, 2023. The results for the year ended March 31, 2025 include the operations of eHDFC Limited and its subsidiaries (which became subsidiaries of the Bank on amalgamation) effective from July 01, 2023 and hence are not comparable with results for the year ended March 31, 2024.

During the quarter and year ended March 31, 2024, in order to comply with the condition imposed by the RBI in relation to the Scheme, the Bank sold 14,01,72,180 equity shares of HDFC Credila Financial Services Ltd (“HDFC Credila”), for a consideration of ₹ 9,552.73 crore, resulting in gain of ₹ 7,341.42 crore (net of tax ₹ 5,526.26 crore). Consequent to the aforesaid sale, HDFC Credila ceased to be a subsidiary of the Bank with effect from March 19, 2024.

During the year ended March 31, 2025, the Board of Directors of the Bank approved the sale of 100.00% stake in HDFC Education and Development Services Private Ltd (“HEADS”), a subsidiary of eHDFC Limited that became a subsidiary of the Bank upon the Scheme becoming effective, for a consideration of ₹ 192.00 crore, in order to comply with the condition imposed by the RBI in relation to the Scheme. Accordingly, the Bank has divested its entire stake in HEADS.

During the year ended March 31, 2025, the Bank has been allotted 16,13,176 equity shares of HDFC Securities Limited (“HSL”), subscribed through a rights issue for a consideration of ₹ 953.23 crore. The Bank’s shareholding in HSL stood at 94.55% as at March 31, 2025.

During the year ended March 31, 2025, the Bank has been allotted 44,20,059 equity shares of HDFC Ergo General Insurance Limited (“HDFC Ergo”), subscribed through a rights issue for a consideration of ₹ 289.07 crore. The Bank’s shareholding in HDFC Ergo stood at 50.33% as at March 31, 2025.

During the year ended March 31, 2025, the Bank has acquired 69,330 equity shares in HDFC Capital Advisors Limited (“HCAL”) for consideration of ₹ 67.47 crore. The Bank’s shareholding in HCAL stood at 89.34% as at March 31, 2025.

Pursuant to approvals by the Boards of the directors of the Bank and its subsidiary company HDB Financial services Limited (“HDBFS”), HDBFS filed Draft Red Herring Prospectus dated October 30, 2024 with SEBI, BSE Limited and National Stock Exchange of India Limited, in connection with an Initial Public Offering (“IPO”) of equity shares of face value of ₹ 10/- each of HDBFS. The IPO is comprised of a fresh issuance of equity shares aggregating up to ₹ 2,500.00 crore and an offer for sale of equity shares aggregating up to ₹ 10,000.00 crore by the Bank and is subject to applicable law, market conditions, receipt of necessary approvals / regulatory clearances and other considerations.

During the quarter and year ended March 31, 2025, the Bank allotted 39,06,130 and 5,53,11,012 equity shares pursuant to the exercise of options / units under the approved employee stock option schemes / employee stock incentive master scheme.

During the quarter and year ended March 31, 2025, the Bank made a floating provision of Nil (previous year: ₹ 10,900.00 crore) in line with the Board approved policy.

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, and recoveries from accounts previously written off.

In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio, liquidity coverage ratio and net stable funding ratio under the Basel III Framework. These disclosures would be available on the Bank’s website at the following link: https://www.hdfcbank.com/personal/resources/regulatory-disclosures. The disclosures have not been subjected to audit or review by the statutory auditors.

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

₹ 10 million = ₹ 1 crore

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

CIN: L65920MH1994PLC080618

HDFC Bank Ltd.

HDFC Bank House,

Senapati Bapat Marg,

Lower Parel,

Mumbai - 400 013.

CIN: L65920MH1994PLC080618

HDFC Bank Ltd.

HDFC Bank House,