HDFC Bank Limited has informed the Exchange about Transcript
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HDFC Bank filed the transcript of its Q4 FY25 earnings call held on April 19, 2025. Management highlighted deposit growth of 15.8% (INR 3.4 trillion) for the year and the credit-deposit ratio falling from ~110% at the time of the merger to ~96% as of March 2025. NIMs operated in a narrow band of 3.4–3.5% with cost of funds stable at ~4.9%, but the CFO acknowledged the RBI's recent rate cuts are a headwind, with the first 25bps cut in February only partially impacting Q4. ROA has held around 1.9% (10–15 year average of 1.9–2.1%) and loan growth was deliberately slowed to 7.7% in FY25 to reposition the balance sheet. Asset quality was described as 'pristine', and management confirmed credit policies will not be relaxed to chase volumes. A major reorganization places Kaizad Bharucha in charge of the entire asset side after Rahul Shukla (who headed CRB) took a sabbatical.
For shareholders, management reiterated commitment to stable margins and ~1.9% ROA, but flagged that the rate-cut cycle will pressure NIMs in the near term as deposit repricing lags loan repricing. The LDR roadmap to fall below 90% by FY27 and continued focus on technology-led productivity gains are positive long-term signals, while the senior management shuffle in CRB will be a space to watch.