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HDFC Bank Limited

HDB

HDFC Bank Limited • NYSE
$36.82 ▲ 0.52% (+0.19)
Market Cap $62.93 B
52w High $39.80
52w Low $28.89
Dividend Yield 1.10%
P/E 25.05
Volume 1.57M
Outstanding Shares 1.71B

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $1.186T ▼ $408.791B ▼ $196.107B ▲ 16.541% ▲ $31.86 $309.707B ▲
Q1-2026 $1.331T ▲ $581.83B ▲ $162.579B ▲ 12.219% ▼ $31.86 ▼ $208.498B ▲
Q4-2025 $688.514B ▼ $1.569B ▼ $153.935B ▼ 22.358% ▲ $36.93 ▲ $154.86B ▼
Q3-2025 $1.122T ▲ $373.495B ▲ $176.566B ▲ 15.738% ▼ $34.68 ▼ $239.729B ▲
Q2-2025 $904.553B $200.566B $173.81B 19.215% $70.17 $207.699B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $1.771T ▼ $45.147T ▲ $39.504T ▲ $5.433T ▲
Q1-2026 $2.146T ▼ $44.56T ▼ $38.929T ▼ $5.426T ▼
Q4-2025 $9.196T ▲ $48.188T ▲ $39.565T ▲ $7.677T ▲
Q3-2025 $2.311T ▼ $42.282T ▼ $37.1T ▼ $5.022T ▼
Q2-2025 $7.982T $45.704T $37.499T $7.264T

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $196.107B ▲ $0 $0 $0 $0 $0
Q1-2026 $162.579B ▼ $0 $0 $0 $0 $0
Q4-2025 $188.349B ▲ $0 $0 $0 $0 $0
Q3-2025 $176.566B ▼ $0 $0 $0 $0 $0
Q2-2025 $178.259B $0 $0 $0 $0 $0

Revenue by Products

Product Q1-2012Q4-2012
Retail Banking
Retail Banking
 $27.86Bn ▲$45.30Bn ▲
Treasury Services Segment
Treasury Services Segment
 $1.62Bn ▲$0 ▼
Wholesale Segment
Wholesale Segment
 $-29480.00M ▲$81.83Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Over the past several years, HDFC Bank has delivered steady, broad‑based growth in its core banking income and profits. Revenue has risen consistently each year, and profits have climbed along with it, indicating that the bank is not just growing its book but doing so profitably. Operating and net margins appear healthy and largely stable, which suggests disciplined pricing, good control over costs, and generally sound credit quality. Even as the bank scales up, it has been able to convert a good portion of its income into bottom‑line profit, which is a sign of operational efficiency and tight risk management in its lending book.

Balance Sheet

Balance Sheet The balance sheet has expanded meaningfully, with total assets and shareholder equity both rising year after year. This reflects an enlarging loan book and deposit base, as well as retained earnings building up capital. Borrowings have increased, which is expected for a growing bank, but equity has also strengthened, helping support regulatory capital needs and balance‑sheet resilience. Liquidity looks solid, with cash and equivalents increasing over time before a recent dip that likely reflects active deployment into loans and other assets. Overall, the bank appears to be growing from a position of strength rather than stretching a thin capital base.

Cash Flow

Cash Flow Cash flows show a classic pattern for an expanding bank: historically healthy operating cash generation, with a recent swing to negative operating cash flow as more cash is put to work in new loans and advances. For banks, this can be a sign of aggressive growth rather than purely a strain, but it does mean closer attention is needed to funding, liquidity, and asset quality. Capital spending has remained modest and predictable, so free cash flow mostly tracks the ups and downs of lending activity. The key question going forward will be whether the new assets funded by this outflow continue to perform well and generate sustainable interest income.

Competitive Edge

Competitive Edge HDFC Bank holds a very strong competitive position in India, supported by a trusted brand, wide physical branch and ATM network, and powerful digital channels. Its large base of low‑cost deposits, especially from current and savings accounts, helps it earn attractive spreads versus many peers. The bank is also known for conservative underwriting and relatively low non‑performing assets, which reinforces its reputation among regulators, customers, and investors. By combining technology, scale, and prudent risk management, HDFC Bank has built a moat that is difficult for smaller or less efficient rivals to match, particularly in retail banking and payments.

Innovation and R&D

Innovation and R&D Innovation is a clear strategic pillar for HDFC Bank. It has invested heavily in digital platforms, mobile apps, instant loans, and AI‑driven customer service, positioning itself as one of India’s most technologically advanced banks. The bank is actively exploring AI, machine learning, blockchain, and next‑generation cybersecurity, while also running structured programs to embed generative AI into internal processes and customer offerings. Its “phygital” approach—combining a large physical network with strong digital capabilities—helps it serve both urban and rural customers. These efforts, along with targeted products for millennials, startups, and wealth clients, suggest a deliberate push to stay ahead of changing customer expectations and fintech competition.

Summary

HDFC Bank’s recent financial history points to a large, growing, and generally well‑run institution: revenues and profits have risen steadily, the balance sheet has scaled up alongside a stronger equity base, and cash‑flow swings largely reflect growth in lending rather than uncontrolled spending. Its competitive position in Indian banking is strong, built on brand trust, low‑cost deposits, wide reach, and disciplined risk management. At the same time, the bank is leaning hard into technology and AI, aiming to secure its edge as banking becomes more digital. The main areas to watch are how aggressively it grows its loan book, how asset quality holds up, and whether its heavy digital and AI investments continue to translate into better customer engagement and operating efficiency over time.