Aim to reduce CD ratio as fast as possible: HDFC Bank MD & CEO Jagdishan

HDFC Bank says it will not get involved in an interest rate war to attract more deposits

HDFC Bank is aiming to reduce its credit-deposit (CD) ratio “as quickly as possible” while maintaining its commitment to profitable growth.

However, the bank has not received a directive from the Reserve Bank of India (RBI) on the timeline to cut the ratio.

“We have not received any regulatory prescription but at the same time, the thought process is that: Can we, to the best of our ability, bring it down as quickly as possible and still maintain the objective of profitable growth,” said Sashidhar Jagdishan, managing director and chief executive officer, in an analyst call after the bank’s first-quarter (Q1) earnings.

“We