The Board of Directors of HDFC Bank Limited approved the Bank’s standalone financial results under Indian GAAP for the quarter and nine months ended December 31, 2025, at its meeting held in Mumbai on Saturday, January 17, 2026. The accounts have been subjected to a Limited Review by the Bank’s statutory auditors.
Strong Revenue Growth in Q3 FY26
For the quarter ended December 31, 2025, the Bank’s net revenue rose by 8.9% year-on-year (YoY) to ₹458.7 billion, compared with ₹421.1 billion in the corresponding quarter of the previous year.
Net Interest Income (NII) increased 6.4% YoY to ₹326.2 billion, up from ₹306.5 billion in Q3 FY25. During the quarter, core net interest margin stood at 3.35% on total assets and 3.51% on interest-earning assets, reflecting stable margin performance.
Other Income Shows Healthy Momentum
Other income (non-interest revenue) for the quarter stood at ₹132.5 billion, driven by growth across key components:
-
Fees and commissions: ₹92.3 billion (₹81.8 billion in Q3 FY25)
-
Foreign exchange and derivatives revenue: ₹14.3 billion (₹14.0 billion in Q3 FY25)
-
Net trading and mark-to-market gains: ₹9.3 billion (₹0.7 billion in Q3 FY25)
-
Miscellaneous income, including recoveries and dividends: ₹16.6 billion (₹17.9 billion in Q3 FY25)
Cost Discipline and Profitability
Operating expenses for the quarter were ₹187.7 billion. Excluding the estimated ₹8.0 billion impact of employee benefits under the New Labour Code, operating expenses stood at ₹179.7 billion, compared with ₹171.1 billion in the corresponding quarter last year.
The core cost-to-income ratio remained healthy at 39.2%, underscoring continued focus on efficiency.
Provisions and contingencies amounted to ₹28.4 billion for the quarter, after the release of contingent provisions of ₹10.4 billion, primarily related to a large borrower group meeting specified conditions. Excluding this release, the total credit cost ratio was 0.55% for the quarter.
Profit Growth Continues
The Bank reported a profit before tax (PBT) of ₹242.6 billion for Q3 FY26. Profit after tax (PAT) stood at ₹186.5 billion, registering a 11.5% YoY growth over the quarter ended December 31, 2024.
Overall, HDFC Bank’s Q3 FY26 performance reflects steady balance sheet growth, stable margins, controlled costs, and resilient profitability, reinforcing its strong position in India’s banking sector.