HDFC Bank Limited has informed the Exchange about Credit Rating
HDFCBANK · price
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India Ratings and Research has affirmed HDFC Bank's long-term issuer rating at 'IND AAA' with a Stable outlook as of March 17, 2026. All existing ratings were reaffirmed: infrastructure bonds (INR 200 billion), Basel-III Tier 2 bonds (INR 250 billion) and fixed deposits at IND AAA/Stable, Basel-III Tier 1 bonds (INR 150 billion) at IND AA+/Stable, and existing certificates of deposit (INR 1,250 billion) at IND A1+. A new certificate of deposit programme of INR 250 billion has been assigned IND A1+. The agency highlighted HDFC's position as the largest private sector bank with strong capital buffers (CET1 of 17.4% in 3QFY26), stable profitability (ROA of 1.8% in FY25), and low gross NPAs (1.24% in 3QFY26) as key strengths. The loan-to-deposit ratio constraint remains the key weakness, though the agency noted deposit repricing tailwinds should support margin expansion ahead.
This is a routine rating reaffirmation with no change in credit quality, so no negative impact on shareholders or stock price is expected. The new INR 250 billion certificate of deposit programme gives the bank additional short-term funding flexibility at the highest short-term rating of A1+.