Q4FY23 Earnings

Presentation
April 2023
LEADERSHIP

HDFC Bank at a glance

Prominence Market share Reach Social impact

#1 ~11% 83 mn ₹8 bn
Private sector bank in India* Advances^ Customer base CSR spend

US$ 100+ bn ~10% 7.8k+ > ₹500 bn

Market capitalisation Deposits Banking branches Contribution to exchequer

170k+ 47% 23k+ 52%

Employees POS and e-com^^ Banking outlets Branches in semi-urban and rural

#1 28% ~ 4 mn 15k +
Most Valuable Indian Banking Credit cards CSC - BCs
Merchant acceptance points
Brand# spends^^

2 Q4FY23 Earnings Presentation

*in terms of asset size | #Kantar BrandZ Most Valuable Indian Brands 2022 Rankings| ^Domestic | ^^Feb’23
CSC - BCs: Customer Service Centre – Business Correspondents
Unless otherwise stated, information is as at or for the year ended March 2023
CONSOLIDATED

Consolidated Income Statement

₹ bn Q4FY22 Q4FY23 YoY FY22 FY23 YoY

Net Interest Income 203.5 249.4 23% 773.5 929.7 20%

Non-Interest Income 83.8 96.1 15% 317.6 339.2 7%

Net revenue 287.3 345.5 20% 1,091.1 1,268.9 16%

Operating expenses 110.1 145.9 33% 403.1 515.3 28%

PPOP 177.2 199.6 13% 688.0 753.6 10%

Provisions 40.3 31.8 (21%) 179.3 138.6 (23%)

Profit before tax 136.9 167.8 23% 508.7 615.0 21%

Consolidated profit 104.4 125.9 21% 380.5 460.0 21%

3 Q4FY23 Earnings Presentation

HDFC BANK STANDALONE

Key Financial Parameters for Q4FY23

Total advances increased by Net profit up by 20% to
16.9% to ₹ 16,142 bn ₹ 120 bn

Deposits up by 20.8% to Gross NPA 1.12%

₹ 18,834 bn; CASA 44%

Net interest margin^ at 4.1% Return on Assets at 2.2%

Cost-to-income ratio at 42% Capital adequacy ratio of

19.3% of which Tier I at 17.1%

4 Q4FY23 Earnings Presentation Standalone Indian GAAP figures (bn = Billion); ₹ = Rupees; ^based on total assets
STANDALONE

Income Statement

P&L (₹ bn) Q4FY22 Q4FY23 YoY FY22 FY23 YoY

Net Interest Income 188.7 233.5 24% 720.1 868.4 21%

Non-Interest Income 76.4 87.3 14% 295.1 312.2 6%

Net revenue 265.1 320.8 21% 1,015.2 1,180.6 16%

Operating expenses 101.5 134.6 33% 374.4 476.5 27%

PPOP 163.6 186.2 14% 640.8 704.1 10%

Provisions 33.2 26.8 (19%) 150.6 119.2 (21%)

Profit before tax 130.4 159.4 22% 490.2 584.9 19%

Profit after tax 100.6 120.5 20% 369.6 441.1 19%

5 Q4FY23 Earnings Presentation Non-interest income includes fees & commissions, foreign exchange & derivative revenue, net trading & MTM income, and miscellaneous income, including recoveries and dividend
 BUSINESS GROWTH

Growth in advances and deposits

Total advances* Deposits
₹ bn ₹ bn

15,205 16,142 18,834

13,805 17,332
15,592

Mar'22 Dec'22 Mar'23 Mar'22 Dec'22 Mar'23

YoY growth 21% 20% 17% YoY growth 17% 20% 21%

YoY growth gross of

IBPC/BRDS transfers
21% 24% 21%

*Net of transfers through inter-bank participation certificates and bills rediscounted

6 Q4FY23 Earnings Presentation

LOAN BOOK

Sustained growth across segments

Growth across all segments Diversified retail loan book
Mar’23

Loans (₹ bn) Mar’22 Dec’22 Mar’23 FY’22 YoY FY’23 YoY

2% 2% 8%
Retail 5,318 6,066 6,346 15% 19%

CRB 4,847 5,733 6,292 30% 30% 27%

Wholesale 3,640 3,923 4,097 17% 13% 14%

IBPC/BRDS - (516) (592) - -

Total 13,805 15,205 16,142 21% 17%

Retail Mix* 44% 44% 47% 12%

Wholesale Mix* 56% 56% 53% 19%

16%

PL AL HL LAP Payments TW GL Other retail

*As per Basel classification

7 Q4FY23 Earnings Presentation

PL – Personal loans; AL – Auto loans; HL – Home loans; LAP – Loans against property;
Payments – Cards & Consumer Durable loans; TW – Two Wheeler loans; GL – Gold loan
HIGH QUALITY DEPOSIT FRANCHISE

Stable and granular deposits

Granular deposits Proportion of CASA deposits

48%
19% 16% 17% 44% 44%

81% 84% 83% 15%

13% 14%

33%
31% 30%

Mar'22 Dec'22 Mar'23 Mar'22 Dec'22 Mar'23

Retail Wholesale
SA Mix CA Mix

Retail anchoring deposit growth

8 Q4FY23 Earnings Presentation

BUSINESS GROWTH

Long term consistent growth

Advances
₹ bn

16,142
13,805
11,433
10,027
8,273
5,586 6,643
3,679 4,676
2,413 3,050

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

Deposits

₹ bn
18,834
15,592
13,351
11,475
9,231
7,888
5,464 6,436
3,673 4,508
2,962

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

9 Q4FY23 Earnings Presentation 10Y

CAGR
CONSISTENT PERFORMANCE

Stable NIM aided by low cost of funds

Yield and Cost of Funds Stable Net Interest Margin (NIM)
7.7% 7.9%
7.4% 4.3% 4.3% 4.3%
7.0% 7.0% 4.2% 4.2%
4.1% 4.1%
4.1%
4.0% 4.0%

3.5% 3.7%
3.1% 3.3%
3.0%

Q4 Mar'22 Q1 Jun'22 Q2 Sep'22 Q3 Dec'22 Q4 Mar'23 Q4 Mar'22 Q1 Jun'22 Q2 Sep'22 Q3 Dec'22 Q4 Mar'23
Yield on Assets Cost of Funds (incl. Shareholders' Funds) NIM (core) NIM (IEA)
IEA: Interest Earning Assets

Amongst the lowest cost of funds in the industry driven by high quality deposits

10 Q4FY23 Earnings Presentation

BUSINESS MIX

Product mix impacts NIM; RoA remains consistent

Loan mix
Covid19 Pandemic

57% 57% 54% 56%

54% 52% 53% 53% 52% 53%
50%

48% 48% 50% 47%

43% 46% 47% 47% 44%
43% 46%

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
Retail/Wholesale mix as per Basel classification Retail (%) Wholesale (%)

NIM and RoA

4.5% 4.4% 4.4% 4.3% 4.3% 4.3%
4.3% 4.3% 4.2% 4.1% 4.1%

1.9% 2.0% 2.0% 1.9% 1.9% 1.9% 1.9% 2.0% 2.0% 2.0% 2.1%

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
RoA % NIM %

11 Q4FY23 Earnings Presentation

STRONG NON-FUNDED REVENUE

Granular and well diversified fee income

Fee Income Mix Retail Fee Income Mix

6% 8% 7% 7% 6%
19% 22% 20% 20% 17%

34% 35% 35%

33% 36%

94% 92% 93% 93% 94%

22% 20%
22% 22% 21%

25% 23% 23% 23% 28%

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23

Retail Wholesale TPP business Retail assets Payments Retail liabilities

Well diversified fee income; pre-dominantly non-fund based

12 Q4FY23 Earnings Presentation

CONTINUING INVESTMENTS

Efficiency in growth
Cost to Income Ratio New branches – investing for future

42.0%
40.6%
39.2% 39.6%
38.3%

Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 684 638

563

41.0% 40.4% 36
39.7% 121
38.6%
36.3% 36.9%
Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23
Net Branch Addition

FY18 FY19 FY20 FY21 FY22 FY23

Operating efficiency allows investments Benign credit enables fast tracking investments

13 Q4FY23 Earnings Presentation

PROFITABILITY

Consistent performance across cycles

Profit after tax
₹ bn

441
370
263 311
175 211
102 123 145
67 85

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

Earnings per share Book value per share

502
FY23 Consolidated EPS: ₹ 83 79 FY23 Consolidated BPS: ₹ 519
433
67
370
57
48 312
274
39
34 205
29 175
21 24 125 144
14 18 91
77

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23

14 Q4FY23 Earnings Presentation 10Y

CAGR
RISK MANAGEMENT

Resilient asset quality

Gross NPA and Net NPA GNPA by Segment

1.8%
1.7%
1.6%

1.2%
1.2% 1.1% 1.2% 1.2% 1.2%
1.1% 1.1%
1.0%

0.5% 0.5% 0.5%

0.3% 0.3% 0.3%

Q4 Mar'22 Q3 Dec'22 Q4 Mar'23 Mar'22 Dec'22 Mar'23

GNPA NNPA Retail CRB CRB (ex-Agri) Wholesale

Stable asset quality; high provision coverage Healthy asset quality across segments

15 Q4FY23 Earnings Presentation

BALANCE SHEET PRODUCTIVITY

Strong returns and healthy capital ratios

Return on Assets Capital adequacy

19.4% 19.3%
18.9%
17.9% 18.1% 18.0%
17.1% 17.1% 17.2% 17.1%

2.1% 2.0% 2.2% 2.2%

1.8%

Q4 Mar'22 Q1 Jun'22 Q2 Sep'22 Q3 Dec'22 Q4 Mar'23 Mar'22 Jun'22 Sep'22 Dec'22 Mar'23
Total Capital Tier 1 Capital

Consistent RoA Healthy capital ratios

16 Q4FY23 Earnings Presentation

STRONG FRANCHISE

Balance sheet and capital productivity

Consistent growth in assets and RoA
₹ bn
2.1
25,000 1.8 1.9 2.0 2.0 1.9 1.9 1.9 1.9 2.0 2.0 2.0

20,000

15,000

10,000

5,000

-
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
Assets RoA %

Capital positioned for growth with consistent RoE

25.0
20.1 20.9 20.4
18.4 18.0 18.0 18.2 17.4
20.0 16.3 16.8 16.6 16.9
15.0

10.0

5.0

0.0
FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23
CET1 % RoE %
FY12 and FY13 Tier 1 capital as per Basel II
17 Q4FY23 Earnings Presentation
FY14 onwards CET1 capital as per Basel III
BUILDING FRANCHISE STRENGTH

Branch expansion and customer relationships driving growth

Branch network Customer base
#s # mn

7,821 83
71
6,342 62
5,254 5,608 56
4,971 49

Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23

Distribution strength enables Large customer base with potential to

customer engagement engage and deepen relationships

18 Q4FY23 Earnings Presentation

GROUP COMPANIES

Subsidiaries – Q4FY23 Update

HDB Financial Services Limited
• 11.9 million customers serviced through a network of 1,492 branches across 1054 cities/towns

• Healthy momentum in disbursements across all three business segments with growth of 53.7% Y-o-Y and 20.6% sequentially

• Q4FY2023 – Loan book: ₹ 700 bn up by 14% YoY; Secured Loans: 74%; Stage 3 Assets: 2.73%

– Net interest margin: 8.5%; Net Profit ₹ 5.5bn up by 28% YoY; RoA 3.3%

– Capital adequacy ratio (CAR): 20.0%; EPS ₹ 6.9; Book value per share ₹ 144.5; RoE 19.6%

HDFC Securities Limited

• 4.5 million customers serviced through a network of 209 branches across 147 cities

• Around 94% of the active clients utilized the services offered through company’s digital platforms.

• Q4FY2023 – Net Revenue: ₹ 4.9 bn; Net Profit : ₹ 1.9 bn

– EPS ₹ 122; RoE 43%

19 Q4FY23 Earnings Presentation

ESG – A WAY OF LIFE

ESG at HDFC Bank

ESG Vision
Governance Ratings
• ESG Policy framework approved by the Board
Best In class on ESG Standards
• ESG governed by CSR & ESG committee of the Board and driven by
Approach management committees and cross functional working groups As of August 2022
To make ESG a way of life
• ESG performance disclosed in the Integrated Annual Report

Focus Areas Key highlights Top constituent of

Nifty 100 ESG index
• Sustainable banking • 829 branches certified as ‘green’
• Carbon neutrality • All upcoming branches to conform to green building standards
• Employee diversity
• Recycling and waste segregation and at large offices
DJSI score at 58
Key Targets • HRDP spans across 7,400+ villages in 23 states covering > 1mn families (88 percentile)

• Become carbon neutral by FY32 • Financed 6,110 MW renewable energy capacity in FY23
• 25% women employees by FY25 • Awarded ESG India Leadership Award 2022
CDP rating for
• 2.5 mn trees by FY25 2022 is C
• IGBC Award for highest number of green branches
20 Q4FY23 Earnings Presentation
HRDP – Holistic Rural Development programme
SAFE HARBOUR STATEMENT

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

21 Q4FY23 Earnings Presentation

 THANK YOU

22 Q4FY23 Earnings Presentation