HDFC Bank, India's largest private-sector lender, announced a leadership transition on Tuesday, with Anup Bagchi taking charge as Managing Director and Chief Executive Officer, IANS reported. The transition follows the completion of Sashidhar Jagdishan's tenure.

Source: IANS

In an exchange filing, the bank said Jagdishan vacated office as MD and CEO at the close of business hours on October 26, 2026, on account of completion of his tenure, and Bagchi assumed charge effective October 27, 2026, The Hindu BusinessLine reported. Bagchi's term runs for three years, to October 26, 2029, as approved by the Reserve Bank of India and subject to shareholder approval, according to the bank's filing as reported by News18.

Source: The Hindu BusinessLine

The bank thanked Jagdishan for his strategic vision and commitment, crediting his leadership with strengthening its performance, organisational culture and customer-centric approach, and acknowledged his pivotal role in the successful completion of the merger of HDFC Ltd with the bank — one of the largest mergers in corporate India, IANS and Storyboard18 reported.

Source: Storyboard18

Bagchi, a former MD and CEO of ICICI Prudential Life Insurance who has been with the ICICI Group since 1992, takes charge at a time when the lender is navigating a mixed earnings environment. Earlier this month, HDFC Bank posted a net profit of Rs 19,610 crore for the second quarter of FY27 — yaani about Rs 196 billion — up 5.2 per cent year-on-year but below analysts' expectations, while net interest income rose 9.7 per cent to Rs 34,619 crore, below the estimate of Rs 34,991 crore, and net interest margin stood at 3.16 per cent, IANS reported.

Source: IANS

HDFC Bank shares edged up marginally on Tuesday, trading at Rs 688.70 on the NSE by 10:10 am, a gain of 0.09 per cent over Monday's close of Rs 688.05, The Hindu BusinessLine reported. The bank has also said it is investigating a possible leak of confidential information and will decide on further action after completing its internal review, IANS reported.

Source: The Hindu BusinessLine