Material Event (Form 6-K)

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 Form 6-K.

Exhibit I

Description

Communication dated July 17, 2021 addressed to The New York Stock Exchange, 11, Wall Street, New York, NY 10005, United States of America (USA) intimating about the Outcome of the Meeting of the Board of Directors of HDFC Bank Limited held on July 17, 2021.

Exhibit I

July 17, 2021

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir,

Sub: Outcome of the meeting of the Board of Directors of HDFC Bank Limited ('the Bank') held on July 17, 2021

We would like to inform that the Board of Directors, at its meeting held today, approved:

1.

The standalone and consolidated financial results of the Bank for the first quarter (unaudited) ended June 30, 2021. We enclose herewith the aforesaid results, the segment reporting, press release and the report of the Statutory Auditors in this regard.

2.

The issue of standalone Rule 144A/ Reg. S foreign currency denominated Perpetual Debt Instruments as Basel III compliant Additional Tier I capital ('AT1 Bonds') to foreign (global) investors outside India, on an unsecured basis, on a public or a private placement basis, along with a proposed listing of the AT1 Bonds and other related activities in the course of the financial year 2021- 22, subject to market conditions and applicable approvals.

Kindly take the same on your records.

Yours truly,

For HDFC Bank Limited

Sd/-

Santosh Haldankar

Senior Vice President - Legal & Company Secretary

Encl: a/a.

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 ENDED JUNE 30, 2021

													(₹ in lac)
				Quarter ended			Year ended 31.03.2021
				30.06.2021			31.03.2021			30.06.2020
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Audited
1		Interest Earned (a)+(b)+(c)+(d)			3048297				3042359				3037797				12085823
	a) Interest / discount on advances / bills			2359273				2381163				2403737				9483454
	b) Income on investments			649314				616633				559764				2321427
	c) Interest on balances with Reserve Bank of India and other inter bank funds			30283				31487				62648				234125
	d) Others			9427				13076				11648				46817
2		Other Income			628850				759391				407531				2520489
3		Total Income (1)+(2)			3677147				3801750				3445328				14606312
4		Interest Expended			1347401				1330344				1471255				5597866
5		Operating Expenses (i)+(ii)			816043				918129				691146				3272262
	i) Employees cost			276558				267885				251344				1036479
	ii) Other operating expenses			539485				650244				439802				2235783
6		Total Expenditure (4)+(5) (excluding Provisions and Contingencies)			2163444				2248473				2162401				8870128
7		Operating Profit before Provisions and Contingencies (3)-(6)			1513703				1553277				1282927				5736184
8		Provisions (other than tax) and Contingencies			483084				469370				389152				1570285
9		Exceptional Items			-				-				-				-
10		Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)			1030619				1083907				893775				4165899
11		Tax Expense			257655				265256				227913				1054246
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			772964				818651				665862				3111653
13		Extraordinary items (net of tax expense)			-				-				-				-
14		Net Profit / (Loss) for the period (12)-(13)			772964				818651				665862				3111653
15		Paid up equity share capital (Face Value of ₹ 1/- each)			55267				55128				54903				55128
16		Reserves excluding revaluation reserves						20316953
17		Analytical Ratios
	(i) Percentage of shares held by Government of India			Nil				Nil				Nil				Nil
	(ii) Capital Adequacy Ratio			19.1	%			18.8	%			18.9	%			18.8	%
	(iii) Earnings per share (EPS) (₹) (Face Value of ₹ 1/- each)
	(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized			14.0				14.9				12.1				56.6
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			13.9				14.7				12.1				56.3
	(iv) NPA Ratios
	(a) Gross NPAs			1709851				1508600				1377346				1508600
	(b) Net NPAs			548580				455482				327996				455482
	(c) % of Gross NPAs to Gross Advances			1.47	%			1.32	%			1.36	%			1.32	%
	(d) % of Net NPAs to Net Advances			0.48	%			0.40	%			0.33	%			0.40	%
	(v) Return on assets (average) - not annualized			0.45	%			0.50	%			0.44	%			1.97	%

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 lac)
		Quarter ended			Year ended 31.03.2021
	30.06.2021			31.03.2021			30.06.2020
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Audited
1		Segment Revenue
a)		Treasury			864433				803574				800126				3233767
b)		Retail Banking			2697467				2761274				2710162				11021021
c)		Wholesale Banking			1440699				1472812				1418359				5715430
d)		Other Banking Operations			486344				554367				389683				1993753
e)		Unallocated			-				3082				-				3082
	Total			5488943				5595109				5318330				21967053
	Less: Inter Segment Revenue			1811796				1793359				1873002				7360741
	Income from Operations			3677147				3801750				3445328				14606312
2		Segment Results
a)		Treasury			270743				243236				250517				903050
b)		Retail Banking			109036				419239				222005				1057480
c)		Wholesale Banking			535672				446455				364445				1743754
d)		Other Banking Operations			152858				11539				97376				620714
e)		Unallocated			(37690	)			(36562	)			(40568	)			(159099	)
	Total Profit Before Tax			1030619				1083907				893775				4165899
3		Segment Assets
a)		Treasury			50692647				51964174				46153925				51964174
b)		Retail Banking			52627989				52199722				46899518				52199722
c)		Wholesale Banking			64890618				62873157				54979292				62873157
d)		Other Banking Operations			6270073				6711608				5664473				6711608
e)		Unallocated			912781				938391				813123				938391
	Total			175394108				174687052				154510331				174687052
4		Segment Liabilities
a)		Treasury			7646558				7627660				7798899				7627660
b)		Retail Banking			113146545				109621782				96820706				109621782
c)		Wholesale Banking			30827241				33811531				29166649				33811531
d)		Other Banking Operations			491736				585765				523185				585765
e)		Unallocated			2033234				2668233				2405425				2668233
	Total			154145314				154314971				136714864				154314971
5		Capital Employed
	(Segment Assets - Segment Liabilities)
a)		Treasury			43046089				44336514				38355026				44336514
b)		Retail Banking			(60518556	)			(57422060	)			(49921188	)			(57422060	)
c)		Wholesale Banking			34063377				29061626				25812643				29061626
d)		Other Banking Operations			5778337				6125843				5141288				6125843
e)		Unallocated			(1120453	)			(1729842	)			(1592302	)			(1729842	)
	Total			21248794				20372081				17795467				20372081

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 June 30, 2021 is given below:

								(₹ in lac)
Particulars		As at 30.06.2021			As at 30.06.2020			As at 31.03.2021
		Unaudited			Unaudited			Audited
CAPITAL AND LIABILITIES
Capital			55267				54903				55128
Reserves and Surplus			21193527				17740564				20316953
Deposits			134582934				118938729				133506022
Borrowings			13127502				11638900				13548733
Other Liabilities and Provisions			6434878				6137235				7260216
Total			175394108				154510331				174687052
ASSETS
Cash and Balances with Reserve Bank of India			10462511				9662537				9734073
Balances with Banks and Money at Call and Short notice			1535458				1301793				2212966
Investments			43613164				37935041				44372829
Advances			114765164				100329886				113283663
Fixed Assets			500538				446411				490932
Other Assets			4517273				4834663				4592589
Total			175394108				154510331				174687052

2	The above financial results have been approved by the Board of Directors at its meeting held on July 17, 2021. The financial results for the quarter ended June 30, 2021 have been subjected to a 'Limited Review' by the statutory auditors of the Bank. The report thereon is unmodified.

3	The Bank has applied its significant accounting policies in the preparation of these financial results that are consistent with those followed in the annual financial statements for the year ended March 31, 2021.

4	The figures for the quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the financial year 2020-21 and the published year to date figures upto December 31, 2020.

5

The Board of Directors at its meeting held on June 18, 2021 recommended a dividend of ₹ 6.50 per equity share of face value of ₹ 1 each out of the net profits for the year ended March 31, 2021, subject to approval of the shareholders of the Bank at its ensuing Annual General Meeting. Effect of the proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratio as at June 30, 2021.

6	During the quarter ended June 30, 2021, the Bank allotted 1,39,42,616 shares pursuant to the exercise of options under the approved employee stock option schemes.

7

Consequent to the outbreak of the COVID-19 pandemic, the Indian government announced a lockdown in March 2020. Subsequently, the national lockdown was lifted by the government, but regional lockdowns continue to be implemented in areas with a significant number of COVID-19 cases. During the quarter ended June 30, 2021, India experienced a 'second wave' of COVID-19, including a significant surge of COVID-19 cases following the discovery of mutant coronavirus variants in the country.

The impact of COVID-19, including changes in customer behaviour and pandemic fears, as well as restrictions on business and individual activities, has led to significant volatility in global and Indian financial markets and a significant decrease in global and local economic activities. The disruptions following the outbreak, have led to a decrease in loan originations, the sale of third party products, the use of credit and debit cards by customers and the efficiency in collection efforts. This may lead to a continued rise in the number of customer defaults and consequently an increase in provisions thereagainst. The extent to which the COVID-19 pandemic will continue to impact the Bank's results will depend on ongoing as well as future developments, which are highly uncertain, including, among other things, any new information concerning the severity of the COVID-19 pandemic, and any action to contain its spread or mitigate its impact whether government-mandated or elected by us.

8	Details of resolution plan implemented under the Resolution Framework for COVID-19-related Stress as per RBI circular dated August 6, 2020 (Resolution Framework 1.0) are given below:

											₹ in crore except number of accounts
Type of Borrower		(A) Number of accounts where resolution plan has been implemented under this window			(B) Exposure to accounts mentioned at (A) before implementation of the plan			(C) Of (B), aggregate amount of debt that was converted into other securities			(D) Additional funding sanctioned, if any, including between invocation of the plan and implementation			(E) Increase in provisions on account of the implementation of the resolution
Personal Loans			287507				5457.35				-				-				545.74
Corporate persons			1510				1735.30				-				-				318.62
Of which, MSMEs			64				27.08				-				-				2.71
Others			47090				607.92				-				-				60.79
Total			336107				7800.57				-				-				925.15

There were 33 borrower accounts having an aggregate exposure of ₹ 10.64 crore to the Bank, where resolution plans had been implemented and now modified under RBI's Resolution Framework 2.0 dated May 5, 2021.

9	Other income relates to income (including commission) from non-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.

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

11	₹ 10 lac = ₹ 1 million

₹ 10 million = ₹ 1 crore

Place : Mumbai			Sashidhar Jagdishan
Date : July 17, 2021			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 ENDED JUNE 30, 2021

							(₹ in lacs)
				Quarter ended			Year ended 31.03.2021
				30.06.2021			31.03.2021			30.06.2020
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Audited
1		Interest Earned (a)+(b)+(c)+(d)			3225376				3260692				3235161				12855240
	a) Interest / discount on advances / bills			2528096				2589859				2597800				10229913
	b) Income on investments			647645				618183				559941				2321162
	c) Interest on balances with Reserve Bank of India and other inter bank funds			32066				33169				64158				241430
	d) Others			17569				19481				13262				62735
2		Other Income			667987				830257				434698				2733288
3		Total Income (1)+(2)			3893363				4090949				3669859				15588528
4		Interest Expended			1421850				1408324				1560849				5924759
5		Operating Expenses (i)+(ii)			870689				980792				740608				3500126
	i) Employees cost			364374				357054				330100				1367667
	ii) Other operating expenses			506315				623738				410508				2132459
6		Total Expenditure (4)+(5) (excluding Provisions and Contingencies)			2292539				2389116				2301457				9424885
7		Operating Profit before Provisions and Contingencies (3)-(6)			1600824				1701833				1368402				6163643
8		Provisions (Other than tax) and Contingencies			536633				575260				434451				1884029
9		Exceptional Items			-				-				-				-
10		Profit / (Loss) from ordinary activities before tax (7)-(8)-(9)			1064191				1126573				933951				4279614
11		Tax Expense			270163				282140				239863				1093937
12		Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)			794028				844433				694088				3185677
13		Extraordinary items (net of tax expense)			-				-				-				-
14		Net Profit / (Loss) for the period (12)-(13)			794028				844433				694088				3185677
15		Less: Share of minority shareholders			1819				1055				1364				2356
16		Consolidated Net Profit / (Loss) for the period (14)-(15)			792209				843378				692724				3183321
17		Paid up equity share capital (Face Value of ₹ 1/- each)			55267				55128				54903				55128
18		Reserves excluding revaluation reserves						20925890
19		Analytical Ratios
	(i) Percentage of shares held by Government of India			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			14.4				15.3				12.6				57.9
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized			14.3				15.2				12.6				57.6

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			Year ended 31.03.2021
				30.06.2021			31.03.2021			30.06.2020
Particulars		Unaudited			Audited (Refer note 4)			Unaudited			Audited
1		Segment Revenue
a)		Treasury			864433				803574				800126				3233767
b)		Retail Banking			2697467				2761274				2710162				11021021
c)		Wholesale Banking			1440699				1472812				1418359				5715430
d)		Other Banking Operations			702560				843566				614214				2975969
e)		Unallocated			-				3082				-				3082
	Total			5705159				5884308				5542861				22949269
	Less: Inter Segment Revenue			1811796				1793359				1873002				7360741
	Income from Operations			3893363				4090949				3669859				15588528
2		Segment Results
a)		Treasury			270743				243236				250517				903050
b)		Retail Banking			109036				419239				222005				1057480
c)		Wholesale Banking			535672				446455				364445				1743754
d)		Other Banking Operations			186430				54205				137552				734429
e)		Unallocated			(37690	)			(36562	)			(40568	)			(159099	)
	Total Profit Before Tax and Minority Interest			1064191				1126573				933951				4279614
3		Segment Assets
a)		Treasury			50692647				51964174				46153925				51964174
b)		Retail Banking			52627989				52199722				46899518				52199722
c)		Wholesale Banking			64890618				62873157				54979292				62873157
d)		Other Banking Operations			11406952				11975219				10779377				11975219
e)		Unallocated			912781				938391				813123				938391
	Total			180530987				179950663				159625235				179950663
4		Segment Liabilities
a)		Treasury			7646558				7627660				7798899				7627660
b)		Retail Banking			113146545				109621782				96820706				109621782
c)		Wholesale Banking			30827241				33811531				29166649				33811531
d)		Other Banking Operations			4935981				5177164				5014782				5177164
e)		Unallocated			2033234				2668232				2405425				2668232
	Total			158589559				158906369				141206461				158906369
5		Capital Employed
	(Segment Assets - Segment Liabilities)
a)		Treasury			43046089				44336514				38355026				44336514
b)		Retail Banking			(60518556	)			(57422060	)			(49921188	)			(57422060	)
c)		Wholesale Banking			34063377				29061626				25812643				29061626
d)		Other Banking Operations			6470971				6798055				5764595				6798055
e)		Unallocated			(1120453	)			(1729841	)			(1592302	)			(1729841	)
	Total			21941428				21044294				18418774				21044294

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 June 30, 2021 is given below:

								(₹ in lacs)
Particulars		As at 30.06.2021			As at 30.06.2020			As at 31.03.2021
		Unaudited			Unaudited			Audited
CAPITAL AND LIABILITIES
Capital			55267				54903				55128
Reserves and Surplus			21821709				18304694				20925890
Minority Interest			64452				59177				63276
Deposits			134487389				118727997				133372087
Borrowings			17259080				15968123				17769675
Other Liabilities and Provisions			6843090				6510341				7764607
Total			180530987				159625235				179950663
ASSETS
Cash and balances with Reserve Bank of India			10465660				9664986				9737035
Balances with Banks and Money at Call and Short notice			1764759				1380416				2390216
Investments			43064532				37725874				43882311
Advances			119787580				105368253				118528352
Fixed Assets			518657				466205				509956
Other Assets			4929799				5019501				4902793
Total			180530987				159625235				179950663

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 July 17, 2021. The financial results for the quarter ended June 30, 2021 have been subjected to a 'Limited Review' by the statutory auditors of the Bank. The report thereon is unmodified.

3	The Group has applied its significant accounting policies in the preparation of these financial results that are consistent with those followed in the annual financial statements for the year ended March 31, 2021.

4	The figures for the quarter ended March 31, 2021 are the balancing figures between audited figures in respect of the financial year 2020-21 and the published year to date figures upto December 31, 2020.

5

The Board of Directors at its meeting held on June 18, 2021 recommended a dividend of ₹ 6.50 per equity share of face value of ₹ 1 each out of the net profits for the year ended March 31, 2021, subject to approval of the shareholders of the Bank at its ensuing Annual General Meeting. Effect of the proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratio as at June 30, 2021.

6

Consequent to the outbreak of the COVID-19 pandemic, the Indian government announced a lockdown in March 2020. Subsequently, the national lockdown was lifted by the government, but regional lockdowns continue to be implemented in areas with a significant number of COVID-19 cases. During the quarter ended June 30, 2021, India experienced a 'second wave' of COVID-19, including a significant surge of COVID-19 cases following the discovery of mutant coronavirus variants in the country.

The impact of COVID-19, including changes in customer behaviour and pandemic fears, as well as restrictions on business and individual activities, has led to significant volatility in global and Indian financial markets and a significant decrease in global and local economic activities. The disruptions following the outbreak, have led to a decrease in loan originations, the sale of third party products, the use of credit and debit cards by customers and the efficiency in collection efforts. This may lead to a continued rise in the number of customer defaults and consequently an increase in provisions thereagainst. The extent to which the COVID-19 pandemic will continue to impact the Group's results will depend on ongoing as well as future developments, which are highly uncertain, including, among other things, any new information concerning the severity of the COVID-19 pandemic, and any action to contain its spread or mitigate its impact whether government-mandated or elected by us.

7

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.

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

9	₹ 10 lac = ₹ 1 million

₹ 10 million = ₹ 1 crore

Place : Mumbai Date : July 17, 2021			Sashidhar Jagdishan 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 ENDED JUNE 30, 2021

The Board of Directors of HDFC Bank Limited approved the Bank's (Indian GAAP) results for the quarter ended June 30, 2021, at its meeting held in Mumbai on Saturday, July 17, 2021. The accounts have been subjected to a 'Limited Review' by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended June 30, 2021

The Bank's net revenues (net interest income plus other income) increased by 18.0% to ₹ 23,297.5 crore for the quarter ended June 30, 2021 from ₹ 19,740.7 crore for the quarter ended June 30, 2020. Net interest income (interest earned less interest expended) for the quarter ended June 30, 2021 grew to ₹ 17,009.0 crore from ₹ 15,665.4 crore for the quarter ended June 30, 2020, driven by advances growth of 14.4%, and a core net interest margin of 4.1%. The Bank's continued focus on deposits helped in the maintenance of a healthy liquidity coverage ratio at 126%, well above the regulatory requirement.

During the quarter, the country was hit by a 'second wave' of COVID-19, with a significant surge in cases following the discovery of mutant coronavirus strains. While there was an improvement towards the end, business activities remained curtailed for almost two thirds of the quarter. These disruptions led to a decrease in retail loan originations, sale of third party products, card spends and efficiency in collection efforts. The lower business volumes, coupled with higher slippages, resulted in lower revenues, as well as an enhanced level of provisioning.

Other income (non-interest revenue) at ₹ 6,288.5 crore was 27.0% of net revenues for the quarter ended June 30, 2021 and grew by 54.3% over ₹ 4,075.3 crore in the corresponding quarter of the previous year. The four components of other income for the quarter ended June 30, 2021 were fees & commissions of ₹ 3,885.4 crore (₹ 2,230.7 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 1,198.7 crore (₹ 436.6 crore in the corresponding quarter of the previous year), gain on sale / revaluation of investments of ₹ 601.0 crore (₹ 1,086.7 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹ 603.5 crore (₹ 321.3 crore in the corresponding quarter of the previous year).

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

Operating expenses for the quarter ended June 30, 2021 were ₹ 8,160.4 crore, an increase of 18.1% over ₹ 6,911.5 crore during the corresponding quarter of the previous year. The cost-to-income ratio for the quarter was at 35.0%.

Pre-provision Operating Profit (PPOP) at ₹ 15,137.0 crore grew by 18.0% over the corresponding quarter of the previous year.

Provisions and contingencies for the quarter ended June 30, 2021 were ₹ 4,830.8 crore (consisting of specific loan loss provisions of ₹ 4,219.7 crore and general and other provisions of ₹ 611.1 crore) as against ₹ 3,891.5 crore (consisting of specific loan loss provisions of ₹ 2,739.8 crore and general and other provisions of ₹ 1,151.7 crore) for the quarter ended June 30, 2020. Total provisions for the current quarter included contingent provisions of approximately ₹ 600 crore.

As mentioned earlier, the 'second wave' of COVID-19 disrupted business activities for close to two thirds of the quarter, leading to a decrease in the efficiency in collection efforts, and a higher level of provisions. The total credit cost ratio was thus at 1.67%, as compared to 1.64% for the quarter ending March 31, 2021 and 1.54% for the quarter ending June 30, 2020.

Profit before tax (PBT) for the quarter ended June 30, 2021 at ₹ 10,306.2 crore grew by 15.3% over corresponding quarter of the previous year. After providing ₹ 2,576.6 crore for taxation, the Bank earned a net profit of ₹ 7,729.6 crore, an increase of 16.1% over the quarter ended June 30, 2020.

Balance Sheet: As of June 30, 2021

Total balance sheet size as of June 30, 2021 was ₹ 1,753,941 crore as against ₹ 1,545,103 crore as of June 30, 2020, a growth of 13.5%.

Total deposits as of June 30, 2021 were ₹ 1,345,829 crore, an increase of 13.2% over June 30, 2020. CASA deposits grew by 28.1% with savings account deposits at ₹ 426,132 crore and current account deposits at ₹ 185,669 crore. Time deposits were at ₹ 734,029 crore, an increase of 3.1% over the corresponding quarter of the previous year, resulting in CASA deposits comprising 45.5% of total deposits as of June 30, 2021.

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

Total advances as of June 30, 2021 were ₹ 1,147,652 crore, an increase of 14.4% over June 30, 2020. As per the Bank's internal business classification, retail loans grew by 9.3%, commercial and rural banking loans grew by 25.1% and other wholesale loans grew by 10.2%. Overseas advances constituted 3% of total advances.

Capital Adequacy:

The Bank's total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 19.1% as on June 30, 2021 (18.9% as on June 30, 2020) 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 17.9% as of June 30, 2021 compared to 17.5% as of June 30, 2020. Common Equity Tier 1 Capital ratio was at 17.2% as of June 30, 2021. Risk-weighted Assets were at ₹ 1,153,559 crore (as against ₹ 1,010,774 crore as at June 30, 2020).

NETWORK

As of June 30, 2021, the Bank's distribution network was at 5,653 branches and 16,291 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 2,917 cities / towns as against 5,326 branches and 14,996 ATMs / CDMs across 2,825 cities / towns as of June 30, 2020. 50% of our branches are in semi-urban and rural areas. In addition, we have 15,912 business correspondents, which are primarily manned by Common Service Centres (CSC) as against 6,546 business correspondents as of June 30, 2020. Number of employees were at 123,473 as of June 30, 2021 (as against 115,822 as of June 30, 2020).

ASSET QUALITY

Gross non-performing assets were at 1.47% of gross advances as on June 30, 2021, (1.3% excluding NPAs in the agricultural segment) as against 1.32% as on March 31, 2021 (1.2% excluding NPAs in the agricultural segment) and 1.36% as on June 30, 2020 (1.2% excluding NPAs in the agricultural segment). Net non-performing assets were at 0.48% of net advances as on June 30, 2021.

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

The Bank held floating provisions of ₹ 1,451 crore and contingent provisions of ₹ 6,596 crore as on June 30, 2021. Total provisions (comprising specific, floating, contingent and general provisions) were 146% of the gross non-performing loans as on June 30, 2021.

SUBSIDIARIES

The Bank's subsidiary companies prepare their financial results in accordance with the notified Indian Accounting Standards ('Ind-AS'). The Bank for the purposes of its statutory compliance prepares and presents its financial results under Indian GAAP. Hence the Bank's subsidiary companies, for the purposes of the consolidated financial results of the Bank, prepare 'fit-for-consolidation information' based on the recognition and measurement principles as per Indian GAAP. The financial numbers of the Bank's subsidiary companies mentioned herein below are in accordance with Indian GAAP.

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on June 30, 2021, the Bank held 96.3% stake in HSL.

For the quarter ended June 30, 2021, HSL's total income grew by 67.3% to ₹ 457.8 crore, as against ₹ 273.7 crore for the quarter ended June 30, 2020. Profit after tax for the quarter grew by 94.9% to ₹ 260.6 crore, as against ₹ 133.7 crore for the quarter ended June 30, 2020.

As on June 30, 2021, HSL had 215 branches across 147 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-banking finance company ('NBFC') offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on June 30, 2021, the Bank held 95.1% stake in HDBFSL.

As mentioned before, with the country being hit by a 'second wave' of COVID-19, business activities remained curtailed for almost two thirds of the quarter. These disruptions led to a decrease in loan originations as well as efficiency in collection efforts. This has resulted in muted business volumes, revenues, as well as a higher provisioning.

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

The total loan book was ₹ 57,390 crore as on June 30, 2021 as against ₹ 56,613 crore as on June 30, 2020. Liquidity coverage ratio was healthy at 242%, well above the regulatory requirement.

For the quarter ended June 30, 2021, HDBFSL's net income was at ₹ 1,655.8 crore as against ₹ 1,609.7 crore for the quarter ended June 30, 2020. Pre-provision Operating Profit (PPOP) was ₹ 643.6 crore as against ₹ 759.9 crore for the quarter ended June 30, 2020.

Provisions and contingencies for the quarter were at ₹ 472.4 crore as against ₹ 453.5 crore for the quarter ended June 30, 2020. Profit after tax for the quarter ended June 30, 2021 was ₹ 130.6 crore compared to ₹ 232.7 crore for the quarter ended June 30, 2020.

As on June 30, 2021, Gross NPA based on the approach used for NBFCs was 7.75% as against 2.86% on June 30, 2020 and 3.89% as on March 31, 2021.

Total CAR was at 19.8% with Tier-I CAR at 14.9%. As on June 30, 2021, HDBFSL had 1,321 branches across 957 cities / towns.

CONSOLIDATED FINANCIAL RESULTS

The consolidated net profit for the quarter ended June 30, 2021 was ₹ 7,922 crore, up 14.4%, over the quarter ended June 30, 2020. Consolidated advances grew by 13.7% from ₹ 1,053,683 crore as on June 30, 2020 to ₹ 1,197,876 crore as on June 30, 2021.

Note:

₹ = Indian Rupees

1 crore = 10 million

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

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

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

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 our non-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 United States-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:

Rajiv Banerjee

Vertical Head, Corporate Communication

HDFC Bank Ltd., Mumbai.

Tel: 91 - 22 - 6652 1307 (D) / 6652 1000 (B)

Mobile: +91 9920454102

[email protected]

For investor queries please contact:

Ajit Shetty

HDFC Bank Ltd., Mumbai.

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

[email protected]

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