HDFC Bank Limited (HDB) 6-K Current report (foreign)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form6-K

Report of Foreign Private Issuer

Pursuant to Rule13a-16 or15d-16

under the Securities Exchange Act of 1934

For the month of January, 2020

Commission File Number001-15216

HDFC BANK LIMITED

(Translation of registrant’s name into English)

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form20-F or Form40-F.

Form20-F  ☒            Form40-F  ☐

Indicate by check mark if the registrant is submitting the Form6-K in paper as permitted by RegulationS-T Rule 101(b)(1):     Yes  ☐    No  ☒

Note: RegulationS-T Rule 101(b)(1) only permits the submission in paper of a Form6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form6-K in paper as permitted by RegulationS-T Rule 101(b)(7):     Yes  ☐    No  ☒

Note:RegulationS-T Rule 101(b)(7) only permits the submission in paper of a Form6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule12g3-2(b) under the Securities Exchange Act of 1934.    Yes  ☐    No  ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule12g3-2(b):82-Not Applicable.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	HDFC BANK LIMITED
	(Registrant)
Date: 20th January, 2020	By	/s/ Santosh Haldankar
	Name:	Santosh Haldankar
	Title:	Senior Vice President (Legal) & Company Secretary

EXHIBIT INDEX

The following documents (bearing the exhibit number listed below) are furnished herewith and are made a part of this Report pursuant to the General Instructions for Form6-K.

Exhibit    I

Description

Communication dated 18^th January, 2020 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about the Financial Result of the Bank for Quarter (Unaudited) and Nine Months (Unaudited) ended 31^st December, 2019.

Exhibit I

January 18, 2020

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sirs,

Re: Unaudited Financial Results of the Bank for the quarter and nine months ended December 31, 2019

Pursuant to the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the standalone and consolidated financial results for the third quarter (unaudited) and nine months (unaudited) ended December 31, 2019 were duly approved by the Board of Directors at its meeting held today and are enclosed herewith.

Kindly take the same on your records.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Santosh Haldankar

Sr. Vice President (Legal) & Company Secretary

Encl: As above

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.

Website: https://www.hdfcbank.com, Tel.:022- 6652 1000, Fax:022- 2496 0739

UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

																	(₹ in lacs)
		Quarter ended									Nine Months ended						Year ended 31.03.2019
		31.12.2019			30.09.2019			31.12.2018			31.12.2019			31.12.2018
	Particulars	Unaudited			Audited (Refer note 4)			Unaudited			Unaudited			Unaudited			Audited
1	Interest Earned (a)+(b)+(c)+(d)		2936972			2816628			2589026			8492759			7263880			9897205
	a) Interest / discount on advances / bills		2342463			2251398			2030629			6774330			5652470			7754419
	b) Income on Investments		520314			509169			531901			1554262			1495054			1999746
	c) Interest on balances with Reserve Bank of India and other inter bank funds		60829			41642			9824			119991			52420			63570
	d) Others		13366			14419			16672			44176			63936			79470
2	Other Income		666928			558872			492101			1722825			1275466			1762587
3	Total Income (1)+(2)		3603900			3375500			3081127			10215584			8539346			11659792
4	Interest Expended		1519682			1465124			1331351			4394540			3748507			5072883
5	Operating Expenses (i)+(ii)		789677			740568			671934			2241971			1900227			2611937
	i) Employees cost		245496			235507			196764			702741			568736			776176
	ii) Other operating expenses		544181			505061			475170			1539230			1331491			1835761
6	Total Expenditure (4)+(5) (excluding Provisions and Contingencies)		2309359			2205692			2003285			6636511			5648734			7684820
7	Operating Profit before Provisions and Contingencies (3)-(6)		1294541			1169808			1077842			3579073			2890612			3974972
8	Provisions (other than tax) and Contingencies		304356			270068			221153			835790			566086			755008
9	Exceptional Items		—			—			—			—			—			—
10	Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)		990185			899740			856689			2743283			2324526			3219964
11	Tax Expense		248537			265241			298104			810320			805224			1112150
12	Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)		741648			634499			558585			1932963			1519302			2107814
13	Extraordinary items (net of tax expense)		—			—			—			—			—			—
14	Net Profit / (Loss) for the period (12)-(13)		741648			634499			558585			1932963			1519302			2107814
15	Paid up equity share capital (Face Value of₹1/- each)		54770			54708			54390			54770			54390			54466
16	Reserves excluding revaluation reserves																	14866166
17	Analytical Ratios
	(i) Percentage of shares held by Government of India		Nil			Nil			Nil			Nil			Nil			Nil
	(ii) Capital Adequacy Ratio		18.5	%		17.5	%		17.3	%		18.5	%		17.3	%		17.1	%
	(iii) Earnings per share (EPS) (₹) (Face Value of₹1/- each)
	(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized		13.5			11.6			10.3			35.4			28.5			39.3
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized		13.4			11.5			10.2			35.1			28.2			39.0
	(iv) NPA Ratios
	(a) Gross NPAs		1342725			1250815			1090286			1342725			1090286			1122416
	(b) Net NPAs		446835			379095			330154			446835			330154			321452
	(c) % of Gross NPAs to Gross Advances		1.42	%		1.38	%		1.38	%		1.42	%		1.38	%		1.36	%
	(d) % of Net NPAs to Net Advances		0.48	%		0.42	%		0.42	%		0.48	%		0.42	%		0.39	%
	(v) Return on assets (average) - not annualized		0.55	%		0.50	%		0.49	%		1.51	%		1.39	%		1.90	%

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:

																	(₹ in lacs)
		Quarter ended									Nine Months ended						Year ended 31.03.2019
		31.12.2019			30.09.2019			31.12.2018			31.12.2019			31.12.2018
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Unaudited			Unaudited			Audited
1	Segment Revenue
a)	Treasury		708374			627540			668444			1965106			1767554			2357648
b)	Retail Banking		2775928			2710078			2310038			7978935			6520699			8922234
c)	Wholesale Banking		1576940			1502943			1421965			4585844			3999351			5456354
d)	Other Banking Operations		521074			434503			413595			1398542			1105347			1529943
e)	Unallocated		—			—			—			66			5278			5278
	Total		5582316			5275064			4814042			15928493			13398229			18271457
	Less: Inter Segment Revenue		1978416			1899564			1732915			5712909			4858883			6611665
	Income from Operations		3603900			3375500			3081127			10215584			8539346			11659792
2	Segment Results
a)	Treasury		90373			69521			64945			238047			71358			130576
b)	Retail Banking		318421			402364			246261			1027499			862176			1179627
c)	Wholesale Banking		397927			300691			384473			1030761			1049929			1422412
d)	Other Banking Operations		226352			169931			211977			575930			487897			679153
e)	Unallocated		(42888	)		(42767	)		(50967	)		(128954	)		(146834	)		(191804	)
	Total Profit Before Tax		990185			899740			856689			2743283			2324526			3219964
3	Segment Assets
a)	Treasury		37086993			34321814			31234090			37086993			31234090			34876621
b)	Retail Banking		47895345			45996296			42104049			47895345			42104049			42879092
c)	Wholesale Banking		47693394			45845204			38007364			47693394			38007364			40874972
d)	Other Banking Operations		6036452			5504158			4772589			6036452			4772589			5085471
e)	Unallocated		821378			839726			737539			821378			737539			737915
	Total		139533562			132507198			116855631			139533562			116855631			124454071
4	Segment Liabilities
a)	Treasury		6097321			4374217			5875744			6097321			5875744			6143885
b)	Retail Banking		85664751			81524711			68388252			85664751			68388252			73229496
c)	Wholesale Banking		28547637			27977539			25451869			28547637			25451869			27188713
d)	Other Banking Operations		554529			553999			466821			554529			466821			535706
e)	Unallocated		2310248			2500439			2376184			2310248			2376184			2435639
	Total		123174486			116930905			102558870			123174486			102558870			109533439
5	Capital Employed
	(Segment Assets - Segment Liabilities)
a)	Treasury		30989672			29947597			25358346			30989672			25358346			28732736
b)	Retail Banking		(37769406	)		(35528415	)		(26284203	)		(37769406	)		(26284203	)		(30350404	)
c)	Wholesale Banking		19145757			17867665			12555495			19145757			12555495			13686259
d)	Other Banking Operations		5481923			4950159			4305768			5481923			4305768			4549765
e)	Unallocated		(1488870	)		(1660713	)		(1638645	)		(1488870	)		(1638645	)		(1697724	)
	Total		16359076			15576293			14296761			16359076			14296761			14920632

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI.

Notes :

1 Statement of Assets and Liabilities as at December 31, 2019 is given below:

					(₹ in lacs)
Particulars	As at 31.12.2019		As at 31.12.2018		As at 31.03.2019
CAPITAL AND LIABILITIES	Unaudited		Unaudited		Audited
Capital		54770		54390		54466
Reserves and Surplus		16304306		14242371		14866166
Deposits		106743347		85250190		92314093
Borrowings		11327720		12345976		11708513
Other Liabilities and Provisions		5103419		4962704		5510833
Total		139533562		116855631		124454071
ASSETS
Cash and Balances with Reserve Bank of India		9279115		4906485		4676362
Balances with Banks and Money at Call and Short notice		961497		764963		3458401
Investments		31129412		27975321		29058788
Advances		93602952		78095117		81940122
Fixed Assets		428829		386032		403001
Other Assets		4131757		4727713		4917397
Total		139533562		116855631		124454071

2 The above financial results have been approved by the Board of Directors at its meeting held on January 18, 2020. The financial results for the quarter and nine months ended December 31, 2019 have been subjected to a limited review by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the quarter and nine months ended December 31, 2018 and the year ended March 31, 2019 were subjected to limited review / audit by another firm of chartered accountants.

3 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, 2019.

4 The figures for the quarter ended September 30, 2019 are the balancing figures between audited figures in respect of the half year ended September 30, 2019 and the published year to date figures upto June 30, 2019.

5 The shareholders of the Bank, at its Annual General Meeting held on July 12, 2019 approved thesub-division (split) of one equity share of the Bank from face value of₹2/- each into two equity shares of face value of₹1/- each. All shares and per share information in the financial results reflect the effect ofsub-division (split) retrospectively.

6 During the quarter and nine months ended December 31, 2019, the Bank allotted 62,63,174 and 3,04,13,848 equity shares respectively pursuant to the exercise of options under the approved employee stock option schemes.

7 Other income relates to income (including commission) fromnon-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.

8 Other operating expenses include commission paid to sales agents of₹836.15 crore (previous period :₹665.40 crore) and₹2,297.91 crore (previous period :₹2,108.06 crore) for the quarter and nine months ended Decemebr 31, 2019 respectively.

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

10 ₹10 lac =₹1 million

₹10 million =₹1 crore

Place : Mumbai	Aditya Puri
Date : January 18, 2020	Managing Director

HDFC BANK LIMITED

CIN : L65920MH1994PLC080618

Sandoz House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai 400 018.

Website: https://www.hdfcbank.com, Tel.:022- 6652 1000, Fax:022- 2496 0739

UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

													(₹ in lacs)
		Quarter ended							Nine Months ended				Year ended 31.03.2019
		31.12.2019		30.09.2019		31.12.2018			31.12.2019		31.12.2018
	Particulars	Unaudited		Audited (Refer note 4)		Unaudited			Unaudited		Unaudited		Audited
1	Interest Earned (a)+(b)+(c)+(d)		3120092		3001688		2743429			9039425		7711570		10516075
	a) Interest / discount on advances / bills		2526590		2433399		2188970			7316039		6100856		8373616
	b) Income on Investments		515536		509138		526130			1549716		1489716		1992475
	c) Interest on balances with Reserve Bank of India and other inter bank funds		61925		42505		10571			122749		54134		66062
	d) Others		16041		16646		17758			50921		66864		83922
2	Other Income		712478		611408		528848			1838686		1373162		1894705
3	Total Income (1)+(2)		3832570		3613096		3272277			10878111		9084732		12410780
4	Interest Expended		1607327		1555844		1406252			4660886		3965113		5371269
5	Operating Expenses (i)+(ii)		852535		805233		714404			2417581		2014266		2769476
	i) Employees cost		333105		319479		269278			954329		772297		1045115
	ii) Other operating expenses		519430		485754		445126			1463252		1241969		1724361
6	Total Expenditure (4)+(5) (excluding Provisions and Contingencies)		2459862		2361077		2120656			7078467		5979379		8140745
7	Operating Profit before Provisions and Contingencies (3)-(6)		1372708		1252019		1151621			3799644		3105353		4270035
8	Provisions (Other than tax) and Contingencies		347790		309120		245926			948344		631866		838218
9	Exceptional Items		—		—		—			—		—		—
10	Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)		1024918		942899		905695			2851300		2473487		3431817
11	Tax Expense		258922		278019		315908			851344		859977		1187255
12	Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)		765996		664880		589787			1999956		1613510		2244562
13	Extraordinary items (net of tax expense)		—		—		—			—		—		—
14	Net Profit / (Loss) for the period (12)-(13)		765996		664880		589787			1999956		1613510		2244562
15	Less: Share of Profit / (Loss) of minority shareholders		31		1077		(300	)		2582		10347		11318
16	Consolidated Net Profit / (Loss) for the period (14)-(15)		765965		663803		590087			1997374		1603163		2233244
17	Paid up equity share capital (Face Value of₹1/- each)		54770		54708		54390			54770		54390		54466
18	Reserves excluding revaluation reserves													15312800
19	Analytical Ratios
	(i) Percentage of shares held by Government of India		Nil		Nil		Nil			Nil		Nil		Nil
	(ii) Earnings per share (EPS) (₹) (Face Value of₹1/- each)
	(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized		14.0		12.1		10.9			36.5		30.1		41.7
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized		13.9		12.0		10.8			36.2		29.8		41.3

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Consolidated Segment information in accordance with the Accounting Standard 17 - Segment Reporting of the operating segments of the Bank is as under:

																	(₹ in lacs)
		Quarter ended									Nine Months ended						Year ended 31.03.2019
		31.12.2019			30.09.2019			31.12.2018			31.12.2019			31.12.2018
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Unaudited			Unaudited			Audited
1	Segment Revenue
a)	Treasury		708374			627540			668444			1965106			1767554			2357648
b)	Retail Banking		2775928			2710078			2310038			7978935			6520699			8922234
c)	Wholesale Banking		1576940			1502943			1421965			4585844			3999351			5456354
d)	Other Banking Operations		749744			672099			604744			2061069			1650734			2280931
e)	Unallocated		—			—			—			66			5278			5278
	Total		5810986			5512660			5005191			16591020			13943616			19022445
	Less: Inter Segment Revenue		1978416			1899564			1732914			5712909			4858884			6611665
	Income from Operations		3832570			3613096			3272277			10878111			9084732			12410780
2	Segment Results
a)	Treasury		90373			69521			64945			238047			71358			130576
b)	Retail Banking		318421			402364			246261			1027499			862176			1179627
c)	Wholesale Banking		397927			300691			384473			1030761			1049929			1422412
d)	Other Banking Operations		261085			213090			260982			683947			636858			891006
e)	Unallocated		(42888	)		(42767	)		(50966	)		(128954	)		(146834	)		(191804	)
	Total Profit Before Tax and Minority Interest		1024918			942899			905695			2851300			2473487			3431817
3	Segment Assets
a)	Treasury		37086993			34321814			31234089			37086993			31234089			34876621
b)	Retail Banking		47895345			45996296			42104049			47895345			42104049			42879092
c)	Wholesale Banking		47693394			45845204			38007364			47693394			38007364			40874972
d)	Other Banking Operations		11026688			10439010			9273757			11026688			9273757			9911971
e)	Unallocated		821378			839726			737539			821378			737539			737915
	Total		144523798			137442050			121356798			144523798			121356798			129280571
4	Segment Liabilities
a)	Treasury		6097321			4374217			5875744			6097321			5875744			6143885
b)	Retail Banking		85664751			81524711			68388252			85664751			68388252			73229496
c)	Wholesale Banking		28547637			27977539			25451869			28547637			25451869			27188713
d)	Other Banking Operations		4984839			4954546			4512434			4984839			4512434			4865392
e)	Unallocated		2310248			2500439			2376184			2310248			2376184			2435640
	Total		127604796			121331452			106604483			127604796			106604483			113863126
5	Capital Employed
	(Segment Assets - Segment Liabilities)
a)	Treasury		30989672			29947597			25358345			30989672			25358345			28732736
b)	Retail Banking		(37769406	)		(35528415	)		(26284203	)		(37769406	)		(26284203	)		(30350404	)
c)	Wholesale Banking		19145757			17867665			12555495			19145757			12555495			13686259
d)	Other Banking Operations		6041849			5484464			4761323			6041849			4761323			5046578
e)	Unallocated		(1488870	)		(1660713	)		(1638645	)		(1488870	)		(1638645	)		(1697724	)
	Total		16919002			16110598			14752315			16919002			14752315			15417445

Business Segments have been identified and reported taking into account the target customer profile, the nature of products and services, the differing risks and returns, the organisation structure, the internal business reporting system and the guidelines prescribed by the RBI.

Notes :

1 Consolidated Statement of Assets and Liabilities as at December 31, 2019 is given below:

					(₹ in lacs)
Particulars	As at 31.12.2019		As at 31.12.2018		As at 31.03.2019
CAPITAL AND LIABILITIES	Unaudited		Unaudited		Audited
Capital		54770		54390		54466
Reserves and Surplus		16809070		14649201		15312800
Minority Interest		55162		48724		50179
Deposits		106702659		85218968		92250268
Borrowings		15498384		16170569		15773278
Other Liabilities and Provisions		5403753		5214946		5839580
Total		144523798		121356798		129280571
ASSETS
Cash and balances with Reserve Bank of India		9283118		4909376		4680459
Balances with Banks and Money at Call and Short notice		1053286		810422		3501305
Investments		30787726		27621630		28691768
Advances		98660629		82785318		86922266
Fixed Assets		447650		405611		421984
Other Assets		4291389		4824441		5062789
Total		144523798		121356798		129280571

2 The above financial results represent the consolidated financial results for HDFC Bank Limited and its subsidiaries constituting the ‘Group’. These financial results have been approved by the Board of Directors of the Bank at its meeting held on January 18, 2020. The financial results for the quarter and nine months ended December 31, 2019 have been subjected to a limited review by the statutory auditors of the Bank. The report thereon is unmodified. The financial results for the year ended March 31, 2019 were audited by another firm of chartered accountants.

3 The Group 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, 2019.

4 The figures for the quarter ended September 30, 2019 are the balancing figures between audited figures in respect of the half year ended September 30, 2019 and the published year to date figures upto June 30, 2019. The financial results for the quarter and nine months ended December 31, 2018 are not reviewed / audited by the statutory auditors.

5 In accordance with the RBI guidelines, banks are required to make consolidated Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. These disclosures are available on the Bank’s website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/ default.htm. The disclosures have not been subjected to audit or review by the statutory auditors.

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

7 ₹10 lac =₹1 million

₹10 million =₹1 crore

Place : Mumbai Date : January 18, 2020 Aditya Puri Managing Director

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2019

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and nine months ended December 31, 2019, at their meeting held in Mumbai on Saturday, January 18, 2020. The accounts have been subjected to a ‘Limited Review’ by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended December 31, 2019

The Bank’s net revenues (net interest income plus other income) increased by 19.1% to₹20,842.2 crore for the quarter ended December 31, 2019 over the corresponding quarter of the previous year.

Net interest income (interest earned less interest expended) for the quarter ended December 31, 2019 grew to₹14,172.9 crore from₹12,576.8 crore for the quarter ended December 31, 2018, driven by growth in advances of 19.9%, and a growth in deposits of 25.2%. The net interest margin for the quarter remained stable at 4.2%.

Other income(non-interest revenue) at₹6,669.3 crore was 32.0% of the net revenues for the quarter ended December 31, 2019 as against₹4,921.0 crore in the corresponding quarter ended December 31, 2018. The main component of other income viz. fees & commissions grew by 24.1% to₹4,526.8 crore for the quarter ended December 31, 2019. The other components of other income for the quarter ended December 31, 2019 were foreign exchange & derivatives revenue of₹525.6 crore (₹397.7 crore for the corresponding quarter of the previous year), gain on sale / revaluation of investments of₹676.5 crore (gain of₹474.0 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of₹940.4 crore (₹402.6 crore for the corresponding quarter of the previous year). The recoveries includeone-off item of approximately₹200 crore arising from resolution of a NCLT matter.

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

Operating expenses for the quarter ended December 31, 2019 were₹7,896.8 crore, an increase of 17.5% over₹6,719.3 crore during the corresponding quarter of the previous year. Thecost-to-income ratio for the quarter was at 37.9% as against 38.4% for the corresponding quarter ended December 31, 2018.

Pre-provision Operating Profit (PPOP) at₹12,945.4 crore grew by 20.1% over the corresponding quarter of the previous year.

Provisions and contingencies for the quarter ended December 31, 2019 were₹3,043.6 crore (consisting of specific loan loss provisions of₹2,883.6 crore and general provisions and other provisions of₹159.9 crore) as against₹2,211.5 crore (consisting of specific loan loss provisions of₹1,734.6 crore and general provisions and other provisions of₹476.9 crore) for the quarter ended December 31, 2018. The specific loan loss provisions in the current quarter includeone-offs of approximately₹700 crore, primarily relating to certain corporate accounts. Therefore, the Core Credit Cost ratio (i.e. excludingone-offs), was 0.92%, as compared to 0.90% in the quarter ending September 30, 2019 and 0.88% in the quarter ending December 31, 2018.

Profit before tax (PBT) for the quarter ended December 31, 2019 was at₹9,901.9 crore. Adjusting forone-off credit items, the Core PBT at₹10,401.9 crore grew by approximately 21%. After providing₹2,485.4 crore for taxation, the Bank earned a net profit of₹7,416.5 crore, an increase of 32.8% over the quarter ended December 31, 2018.

Balance Sheet: As of December 31, 2019

Total balance sheet size as of December 31, 2019 was₹1,395,336 crore as against₹1,168,556 crore as of December 31, 2018, a growth of 19.4%.

Total deposits as of December 31, 2019 were₹1,067,433 crore, an increase of 25.2% over December 31, 2018. CASA deposits grew by 21.5% with savings account deposits at₹277,928 crore and current account deposits at₹143,900 crore. Time deposits were at₹645,606 crore, an increase of 27.7% over the previous year, resulting in CASA deposits comprising 39.5% of total deposits as of December 31, 2019. The Bank’s continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 140%, well above the regulatory requirement.

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

Total advances as of December 31, 2019 were₹936,030 crore, an increase of 19.9% over December 31, 2018. Domestic advances grew by 20.9% over December 31, 2018. As per regulatory [Basel 2] segment classification, domestic retail loans grew by 14.1% and domestic wholesale loans grew by 29.3%. The domestic loan mix as per Basel 2 classification between retail:wholesale was 52:48. Overseas advances constituted 2% of total advances.

Nine Months ended December 31, 2019

For the nine months ended December 31, 2019, the Bank’s net revenues (net interest income plus other income) were₹58,210.4 crore, as against₹47,908.4 crore for the nine months ended December 31, 2018, a growth of 21.5%. Net profit for the nine months ended December 31, 2019 was₹19,329.6 crore, up by 27.2% over the corresponding nine months ended December 31, 2018.

Capital Adequacy:

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 18.5% as on December 31, 2019 (17.3% as on December 31, 2018) as against a regulatory requirement of 11.075% which includes Capital Conservation Buffer of 1.875%, and an additional requirement of 0.20% on account of the Bank being identified as a Domestic Systemically Important Bank(D-SIB). Tier 1 CAR was at 17.1% as of December 31, 2019 compared to 15.8% as of December 31, 2018. Common Equity Tier 1 Capital ratio was at 16.2% as of December 31, 2019. Risk-weighted Assets were at₹950,976 crore (as against₹908,245 crore as at December 31, 2018).

NETWORK

As of December 31, 2019, the Bank’s distribution network was at 5,345 banking outlets and 14,533 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 2,787 cities / towns as against 4,963 banking outlets and 13,407 ATMs / CDMs across 2,727 cities / towns as of December 31, 2018. Of the total banking outlets, 52% are in semi-urban and rural areas. In addition, we have 3,421 banking outlets managed by the Common Service Centres. Number of employees were at 113,981 as of December 31, 2019 (as against 96,425 as of December 31, 2018).

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

ASSET QUALITY

Grossnon-performing assets were at 1.42% of gross advances as on December 31, 2019, (1.2% excluding NPAs in the agricultural segment) as against 1.38% as on September 30, 2019 (1.2% excluding NPAs in the agricultural segment) and 1.38% as on December 31, 2018 (1.1% excluding NPAs in the agricultural segment). Netnon-performing assets were at 0.48% of net advances as on December 31, 2019. The Bank held floating provisions of₹1,451 crore and contingent provisions of₹1,457 crore as on December 31, 2019. Total provisions (comprising specific, floating, contingent and general provisions) were 119% of the grossnon-performing loans as on December 31, 2019.

SUBSIDIARIES

The financial results of the Bank’s subsidiary companies have been prepared in accordance with notified Indian Accounting Standards (‘Ind-AS’).

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on December 31, 2019, the Bank held 97.3% stake in HSL.

For the quarter ended December 31, 2019, HSL’s total income was₹214.3 crore as against₹182.5 crore for the quarter ended December 31, 2018. Profit after tax for the quarter ended December 31, 2019 was₹94.3 crore, as against₹70.0 crore in the previous quarter ended December 31, 2018.

For the nine months ended December 31, 2019, HSL’s total income was₹584.8 crore as against₹565.1 crore for the nine months ended December 31, 2018. Profit after tax for the nine months was₹250.0 crore, as against₹223.4 crore for the nine months ended December 31, 2018.

As on December 31, 2019 HSL had 262 branches across 161 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is anon-deposit takingnon-banking finance company (‘NBFC’) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on December 31, 2019, the Bank held 95.3% stake in HDBFSL.

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

As on December 31, 2019, HDBFSL’s balance sheet size was at₹61,055 crore. The assets under management grew by 15.2% to₹59,178 crore as on December 31, 2019 as against₹51,352 crore as of December 31, 2018.

For the quarter ended December 31, 2019, HDBFSL’s net interest income grew by 29.2 % to₹1,049.8 crore as against₹812.6 crore in the previous quarter ended December 31, 2018. Profit after tax for the quarter ended December 31, 2019 was grew by 16.5% to₹343.1 crore as compared to₹294.4 crore in the previous quarter ended December 31, 2018.

For the Nine month ended December 31, 2019, HDBFSL’s net interest income grew by 22.2% to₹3,034.2 crore as against₹2,483.3 crore in the previous nine months ended December 31, 2018. Profit after tax for the Nine month ended December 31, 2019 was₹770.6 crore compared to₹820.0 crore in the previous nine month ended December 31, 2018.

Stage 3 loans were at 3.0% of gross loans. Total CAR was at 18.7% withTier-I CAR at 13.5%.

As on December 31, 2019, HDBFSL had 1,453 branches across 1,058 cities / towns.

CONSOLIDATED FINANCIAL RESULTS

The Bank’s consolidated financial results include the financial results of its subsidiary companies based on the recognition and measurement principles as per Indian GAAP.

The consolidated net profit for the quarter ended December 31, 2019 was₹7,660 crore, up 29.8%, over the quarter ended December 31, 2018. Consolidated advances grew by 19.2% from₹827,853 crore as on December 31, 2018 to₹986,606 crore as on December 31, 2019.

The consolidated net profit for the nine months ended December 31, 2019 was₹19,974 crore, up 24.6%, over the nine months ended December 31, 2018.

Note:

₹ = Indian Rupees

1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP unless otherwise specified.

NEWS RELEASE HDFC Bank Ltd. HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013. CIN: L65920MH1994PLC080618

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

Certain statements are included in this release which contain words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements.” Actual results may differ materially from those suggested by the forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for various banking services, future levels of ournon-performing loans, our growth and expansion, the adequacy of our allowance for credit and investment losses, technological changes, volatility in investment income, our ability to market new products, cash flow projections, the outcome of any legal, tax or regulatory proceedings in India and in other jurisdictions we are or become a party to, the future impact of new accounting standards, our ability to pay dividends, the impact of changes in banking regulations and other regulatory changes on us in India and other jurisdictions, our ability to roll over our short-term funding sources and our exposure to market and operational risks. By their nature, certain of the market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from those estimated by the forward-looking statements contained in this document include, but are not limited to: general economic and political conditions, instability or uncertainty in India and the other countries which have an impact on our business activities or investments caused by any factor, including terrorist attacks in India, the United States or elsewhere, anti-terrorist or other attacks by the United States, a UnitedStates-led coalition or any other country, tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India; the monetary and interest rate policies of the government of India, natural calamities, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices; the performance of the financial markets in India and globally, changes in Indian and foreign laws and regulations, including tax, accounting and banking regulations, changes in competition and the pricing environment in India, and regional or general changes in asset valuations.

For more information please log on to:www.hdfcbank.com

For media queries please contact:

Neeraj Jha

Head, Corporate Communication

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1308 (D) / 6652 1000 (B)

Fax: 91 - 22 - 2490 3168

Mobile: +91 93236 20828

neeraj.jha@hdfcbank.com

For investor queries please contact:

Ajit Shetty

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1054 (D) / 6652 1000 (B)

Mobile: +91 9819628910

ajit.shetty@hdfcbank.com