HDFC

Irdai has proposed product- and channel-specific caps on insurance commissions, lower expense limits for insurers; banks are exploring mutual funds and forex to offset potential income losses

Country's largest private sector lender HDFC Bank on Tuesday said that Anup Bagchi has taken charge as its managing director and chief executive. His predecessor, Sashidhar Jagdishan, vacated office on Monday after the completion of his term, the bank informed exchanges. Bagchi, an ICICI Group veteran, is the first outsider to head HDFC Bank in its over-three-decade history. His previous assignment was as the MD and CEO of ICICI Prudential Life Insurance. He joins HDFC Bank at a time when the lender is battling a slew of challenges, including ones on core income growth and margins, which have made investors wary. In brief comments on an earnings call which he attended, Bagchi said a part of the work on the bank's 2023 merger with housing finance major parent HDFC is yet to be executed and also announced that he will be meeting all the stakeholders to better understand the bank. Bagchi had also appreciated the strong and committed leadership at HDFC Bank, amid speculation over whe

Fund Review: HDFC Mid Cap Fund

HDFC identified the executives during an internal investigation that began after some leaders grew concerned about the possibility of information being leaked

HDFC Bank, ICICI Bank and Axis Bank report sequential declines in net interest margins as FCNR(B) deposits weigh on earnings, but expect recovery as funds are deployed

Fund Review: HDFC Large Cap Fund

HDFC Bank, ICICI Bank and SBI saw their market capitalisation decline in the July-September quarter, while Kotak Mahindra Bank overtook Axis Bank to become the fourth-largest lender by market value

Period-end deposits rose 4.9 per cent sequentially and nearly 19 per cent YoY to ₹33.27 trillion, while advances grew 16.3 per cent year-on-year

The new chief will need to revive retail and deposit growth, rebuild CASA, improve margins and strengthen investor communication after years of stock underperformance

Macquarie Research also described the board's move as a decisive step towards settling the leadership question.

Order of preference in which two names are submitted to RBI is critical

Rajiv Kumar urged HDFC Bank CEO Sashidhar Jagdishan to accelerate loan growth, step up technology investments and address legacy issues, sources said

HDFC Bank's weighting in the Nifty 50 has fallen to 9.81 per cent, narrowly ahead of ICICI Bank, as the CEO's exit and governance concerns deepen the lender's sell-off

Sashidhar Jagdishan's exit puts HDFC Bank's next leadership team under scrutiny as investors seek stronger growth, better lending mix and improved returns

The investment, made through their joint senior secured debt platform, is in a residential development project in western Mumbai, the companies said

Sashidhar Jagdishan's six-year tenure at HDFC Bank was marked by regulatory setbacks, the HDFC merger, governance controversies and scrutiny of its Dubai operations

Challenges before India's largest private bank: From finding a new MD & CEO to reviving its margins

The announcement on Saturday that Jagdishan - a three-decade HDFC Bank veteran - won't seek reappointment puts to rest months of speculation that he was eyeing an extension

The CEO search comes after about six months of upheaval at HDFC Bank where leadership issues have weighed on its shares

Shares decline around 2 per cent as a US securities fraud class-action lawsuit and uncertainty over MD & CEO Sashidhar Jagdishan's succession weigh on sentiment