Report of Foreign Issuer (6-k)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16

under the Securities Exchange Act of 1934

For the month of April, 2018

Commission File Number 001-15216

HDFC BANK LIMITED

(Translation of registrant’s name into English)

HDFC Bank House, Senapati Bapat Marg,

Lower Parel, Mumbai. 400 013, India

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): Yes ☐ No ☒

Note : Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): Yes ☐ No ☒

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant’s “home country”), or under the rules of the home country exchange on which the registrant’s securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant’s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes ☐ No ☒

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

82- Not Applicable .

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


	HDFC BANK LIMITED
	(Registrant)

Date: 23 ^rd April, 2018	By	/s/ Sanjay Dongre
	Name: Sanjay Dongre
	Title: Executive Vice President (Legal) & Company Secretary

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 21 ^st April, 2018 addressed to The New York Stock Exchange, New York, United States of America (USA) intimating about Outcome of Board Meeting held on 21 ^st April, 2018.

Exhibit I

21 ^st April, 2018

New York Stock Exchange

11, Wall Street,

New York,

NY 10005

USA

Dear Sir / Madam,

Re: Outcome of Board Meeting held on 21 ^st April, 2018

We attach herewith the Audited Financial Results for the quarter and year ended 31 ^st March 2018 (both standalone and consolidated), segment reporting and summarized Balance Sheet as on 31 ^st March, 2018, duly approved by the Board of Directors at its meeting held today. The press release in this regard is also enclosed.

The Board of Directors have recommended a dividend of Rs.13/- per equity share of Rs. 2/- each (i.e. 650%) out of the net profits for the year ended 31 ^st March, 2018, subject to approval of the shareholders at the ensuing Annual General Meeting of the Bank.

The Board of Directors have approved the issue of Perpetual Debt Instruments (part of Additional Tier I capital), Tier II Capital Bonds and Long Term Bonds (financing of infrastructure and affordable housing) up to a total amount of up to a total amount of Rs. 50,000 crore in the period of next twelve months through private placement mode, subject to the approval of the shareholders at the ensuing Annual General Meeting of the Bank and any other regulatory approvals as applicable.

Pursuant to the Regulations, we hereby confirm and declare that the Statutory Auditors of the Bank, M/s. Deloitte, Haskins & Sells, Chartered Accountants, have issued the Audit Report on the Standalone and Consolidated financial results for the quarter and year ended 31 ^st March, 2018 with unmodified opinion.

This is for your information and record.

Thanking you,

Yours faithfully,

For HDFC Bank Limited

Sd/-

Sanjay Dongre

Executive Vice President (Legal) &
Company Secretary

Encl : a/a.

HDFC BANK LIMITED

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2018


														( ₹ in lacs)
		Quarter ended 31.03.2018			Quarter ended 31.12.2017			Quarter ended 31.03.2017			Year ended 31.03.2018			Year ended 31.03.2017
	Particulars	Audited (Refer note 4)			Unaudited			Audited (Refer note 4)			Audited			Audited
1	Interest Earned (a)+(b)+(c)+(d)		2132108			2058127			1811440			8024135			6930596
	a) Interest / discount on advances / bills		1666337			1615661			1350745			6266179			5205526
	b) Income on Investments		422264			410030			426769			1622237			1594434
	c) Interest on balances with Reserve Bank of India and other inter bank funds		19681			11238			16526			52388			53202
	d) Others		23826			21198			17400			83331			77434
2	Other Income		422858			386917			344626			1522031			1229649
3	Total Income (1)+(2)		2554966			2445044			2156066			9546166			8160245
4	Interest Expended		1066337			1026693			905930			4014649			3616674
5	Operating Expenses (i)+(ii)		605063			573222			522196			2269036			1970332
	i) Employees cost		174120			169126			155265			680574			648366
	ii) Other operating expenses (Refer Note 11)		430943			404096			366931			1588462			1321966
6	Total Expenditure (4)+(5) (excluding Provisions & Contingencies)		1671400			1599915			1428126			6283685			5587006
7	Operating Profit before Provisions and Contingencies (3)-(6)		883566			845129			727940			3262481			2573239
8	Provisions (other than tax) and Contingencies		154110			135144			126180			592749			359330
9	Exceptional Items		—			—			—			—			—
10	Profit / (Loss) from Ordinary Activities before tax (7)-(8)-(9)		729456			709985			601760			2669732			2213909
11	Tax Expense		249528			245725			202751			921057			758943
12	Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)		479928			464260			399009			1748675			1454966
13	Extraordinary items (net of tax expense)		—			—			—			—			—
14	Net Profit / (Loss) for the period (12)-(13)		479928			464260			399009			1748675			1454966
15	Paid up equity share capital (Face Value of ₹ 2/- each)		51902			51802			51251			51902			51251
16	Reserves excluding revaluation reserves											10577601			8894987
17	Analytical Ratios
	(i) Percentage of shares held by Government of India		Nil			Nil			Nil			Nil			Nil
	(ii) Capital Adequacy Ratio		14.8	%		15.5	%		14.6	%		14.8	%		14.6	%
	(iii) Earnings per share ( ₹ )
	(a) Basic EPS before & after extraordinary items (net of tax expense) - not annualized		18.5			17.9			15.6			67.8			57.2
	(b) Diluted EPS before & after extraordinary items (net of tax expense) - not annualized		18.3			17.7			15.4			66.8			56.4
	(iv) NPA Ratios
	(a) Gross NPAs		860697			823488			588566			860697			588566
	(b) Net NPAs		260102			277366			184399			260102			184399
	(c) % of Gross NPAs to Gross Advances		1.30	%		1.29	%		1.05	%		1.30	%		1.05	%
	(d) % of Net NPAs to Net Advances		0.40	%		0.44	%		0.33	%		0.40	%		0.33	%
	(v) Return on assets (average) - not annualized		0.50	%		0.50	%		0.48	%		1.93	%		1.88	%

Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Bank is as under:


														( ₹ in lacs)
Particulars		Quarter ended 31.03.2018			Quarter ended 31.12.2017			Quarter ended 31.03.2017			Year ended 31.03.2018			Year ended 31.03.2017
Particulars		Audited (Refer note 4)			Unaudited			Audited (Refer note 4)			Audited			Audited
1	Segment Revenue
a)	Treasury		513629			503703			547047			1984137			2032618
b)	Retail Banking		1957522			1869320			1683063			7384305			6614750
c)	Wholesale Banking		1096443			1078527			842243			4150413			3258785
d)	Other Banking Operations		366371			326442			263975			1225914			904669
e)	Unallocated		—			—			—			—			—
	Total		3933965			3777992			3336328			14744769			12810822
	Less: Inter Segment Revenue		1378999			1332948			1180262			5198603			4650577

	Income from Operations		2554966			2445044			2156066			9546166			8160245

2	Segment Results
a)	Treasury		24204			41235			42655			154000			165911
b)	Retail Banking		291824			230001			222172			997172			843216
c)	Wholesale Banking		278681			339253			259434			1172051			1012304
d)	Other Banking Operations		185253			154521			109334			548790			336533
e)	Unallocated		(50506	)		(55025	)		(31835	)		(202281	)		(144055	)

	Total Profit Before Tax		729456			709985			601760			2669732			2213909

3	Segment Assets
a)	Treasury		35089438			26447291			26335640			35089438			26335640
b)	Retail Banking		37190659			34979225			29582892			37190659			29582892
c)	Wholesale Banking		29704057			29172014			27214883			29704057			27214883
d)	Other Banking Operations		3759549			3633910			2720588			3759549			2720588
e)	Unallocated		649728			675500			530018			649728			530018

	Total		106393431			94907940			86384021			106393431			86384021

4	Segment Liabilities
a)	Treasury		5534970			4653686			3873249			5534970			3873249
b)	Retail Banking		59878546			55962663			52579290			59878546			52579290
c)	Wholesale Banking		27028720			21214705			19125490			27028720			19125490
d)	Other Banking Operations		408150			428484			314274			408150			314274
e)	Unallocated		2913542			2542143			1545480			2913542			1545480

	Total		95763928			84801681			77437783			95763928			77437783

5	Capital Employed
	(Segment Assets-Segment Liabilities)
a)	Treasury		29554468			21793605			22462391			29554468			22462391
b)	Retail Banking		(22687887	)		(20983438	)		(22996398	)		(22687887	)		(22996398	)
c)	Wholesale Banking		2675337			7957309			8089393			2675337			8089393
d)	Other Banking Operations		3351399			3205426			2406314			3351399			2406314
e)	Unallocated		(2263814	)		(1866643	)		(1015462	)		(2263814	)		(1015462	)

	Total		10629503			10106259			8946238			10629503			8946238

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 RBI.

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Notes :

1	Statement of Assets and Liabilities as at March 31, 2018 is given below.


			( ₹ in lacs)
Particulars	As at 31.03.2018		As at 31.03.2017
CAPITAL AND LIABILITIES		Audited		Audited
Capital		51902		51251
Reserves and Surplus		10577601		8894987
Deposits		78877064		64363966
Borrowings		12310497		7402887
Other Liabilities and Provisions		4576367		5670930

Total		106393431		86384021

ASSETS
Cash and Balances with Reserve Bank of India		10467047		3789687
Balances with Banks and Money at Call and Short notice		1824460		1105523
Investments		24220024		21446334
Advances		65833309		55456820
Fixed Assets		360721		362675
Other Assets		3687870		4222982

Total		106393431		86384021

2	The above results have been approved by the Board of Directors of the Bank at its meeting held on April 21, 2018. There are no qualifications in the auditor’s report for the year ended March 31, 2018. The information presented above is extracted from the audited financial statements.

3	The Bank has consistently applied its significant accounting policies in the preparation of its quarterly financial results and its annual financial statements during the years ended March 31, 2018 and March 31, 2017.

4	The figures of the last quarter in each of the financial years are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the end of the third quarter of the respective financial year.

The Board of Directors at their meeting proposed a dividend of ₹ 13 per share, subject to the approval of the members at the ensuing Annual General Meeting. In terms of revised Accounting Standard (AS) 4 ‘Contingencies and Events occurring after the Balance sheet date’ as notified by the Ministry of Corporate Affairs through amendments to Companies (Accounting Standards) Amendment Rules, 2016, the Bank has not appropriated proposed dividend (including tax) aggregating ₹ 4,067.07 crore (previous year: ₹ 3,392.71 crore) from Statement of Profit and Loss for the year ended March 31, 2018. However, the effect of the proposed dividend has been reckoned in determining capital funds in the computation of capital adequacy ratio as at March 31, 2018 and March 31, 2017.

6	During the quarter and year ended March 31, 2018, the Bank allotted 4966650 and 32544550 shares respectively pursuant to the exercise of options under the approved employee stock option schemes.

7	During the year ended March 31, 2018, the Bank raised Additional Tier 1 Capital bonds of ₹ 8,000 crore and Tier 2 Capital bonds of ₹ 2,000 crore.

The Board of Directors of the Bank, at their meeting held on December 20, 2017 approved the raising of funds aggregating up to ₹ 24,000 crore, of which an amount up to a maximum of ₹ 8,500 crore shall be through the issuance of equity shares of face value of ₹ 2/- each pursuant to a preferential issue to Housing Development Finance Corporation Limited (the Bank’s promoters) and the balance shall be through the issuance of equity shares/ convertible securities/ depository receipts pursuant to a Qualified Institutions Placement (QIP)/ American Depository Receipts (ADR)/ Global Depository Receipt (GDR) program. The said raising of funds was approved by the shareholders of the Bank at its Extra Ordinary General meeting held on January 19, 2018 and is subject to the receipt of all relevant regulatory approvals.

In accordance with RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. The Bank’s Pillar 3 disclosures are available on its website at the following link: http://www.hdfcbank.com/aboutus/basel_disclosures/default.htm. These Pillar 3 disclosures have not been subjected to audit or review by the statutory auditors.

10	Other income relates to income from non-fund based banking activities including commission, fees, earnings from foreign exchange and derivative transactions, profit and loss (including revaluation) from investments and recoveries from accounts previously written off.

11	Other operating expenses include commission paid to sales agents of ₹ 660.44 crore (previous period: ₹ 508.65 crore) and ₹ 2,427.96 crore (previous year: ₹ 1,906.80 crore) for the quarter and year ended March 31, 2018 respectively.

RBI circular DBR.No.BP.BC.102/21.04.048/2017-18 dated April 2, 2018 grants banks an option to spread provisioning for mark to market losses on investments held in AFS and HFT for the quarters ended December 31, 2017 and March 31, 2018. The circular states that the provisioning for each of these quarters may be spread equally over up to four quarters, commencing with the quarter in which the loss was incurred. The Bank has recognised the entire net mark to market loss on investments in the respective quarters and has not availed of the said option.

13	As at March 31, 2018, the total number of banking outlets and ATMs were 4,787 and 12,635 respectively.

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

15	₹ 10 lac = ₹ 1 million

₹ 10 million = ₹ 1 crore


Place : Mumbai		Aditya Puri
Date : April 21, 2018		Managing Director

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

HDFC BANK LIMITED GROUP

CONSOLIDATED FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2018


				( ₹ in lacs)
	Particulars	Year ended 31-03-2018		Year ended 31-03-2017
	Particulars	Audited		Audited
1	Interest Earned (a)+(b)+(c)+(d)		8528785		7327136
	a) Interest / discount on advances / bills		6765890		5598618
	b) Income on Investments		1622979		1595156
	c) Interest on balances with Reserve Bank of India and other inter bank funds		54062		54486
	d) Others		85854		78876
2	Other Income		1605660		1287763
3	TOTAL INCOME (1)+(2)		10134445		8614899
4	Interest Expended		4238148		3804158
5	Operating Expenses (i)+(ii)		2392722		2075107
	i) Employees cost		919390		850470
	ii) Other operating expenses		1473332		1224637
6	TOTAL EXPENDITURE (4)+(5) (excluding Provisions & Contingencies)		6630870		5879265
7	Operating Profit before Provisions and Contingencies (3)-(6)		3503575		2735634
8	Provisions (Other than tax) and Contingencies		657182		399081
9	Exceptional Items		—		—
10	Profit / (Loss) from ordinary activities before tax (7)-(8)-(9)		2846393		2336553
11	Tax Expense		990308		807812
12	Net Profit / (Loss) from Ordinary Activities after tax (10)-(11)		1856085		1528741
13	Extraordinary items (net of tax expense)		—		—
14	Net Profit / (Loss) for the year (12)-(13)		1856085		1528741
15	Minority Interest		5134		3672
16	Share in profits of associates		52		234
17	Consolidated Profit / (Loss) for the year attributable to the Group (14)-(15)+(16)		1851003		1525303
18	Paid up equity share capital (Face Value of ₹ 2/- each)		51902		51251
19	Reserves excluding revaluation reserves		10908011		9128144
20	Analytical Ratios
	(i) Percentage of shares held by Government of India		Nil		Nil
	(ii) Earnings per share ( ₹ )
	(a) Basic EPS before & after extraordinary items (net of tax expense)		71.7		60.0
	(b) Diluted EPS before & after extraordinary items (net of tax expense)		70.8		59.2

Consolidated Segment information in accordance with the Accounting Standard on Segment Reporting (AS 17) of the operating segments of the Group is as under:


					( ₹ in lacs)
Particulars		Year ended 31-03-2018			Year ended 31-03-2017
Particulars		Audited			Audited
1	Segment Revenue
a)	Treasury		1984137			2032618
b)	Retail Banking		7384305			6614750
c)	Wholesale Banking		4150413			3258785
d)	Other banking operations		1814193			1359323
	Total		15333048			13265476
	Less: Inter Segment Revenue		5198603			4650577

	Income from Operations		10134445			8614899

2	Segment Results
a)	Treasury		154000			165911
b)	Retail Banking		997172			843216
c)	Wholesale Banking		1172051			1012304
d)	Other banking operations		725451			459177
e)	Unallocated		(202281	)		(144055	)

	Total Profit Before Tax, Minority Interest & Earnings from Associates		2846393			2336553

3	Segment Assets
a)	Treasury		35089438			26335640
b)	Retail Banking		37190659			29582892
c)	Wholesale Banking		29704057			27214883
d)	Other banking operations		7684735			5570983
e)	Unallocated		649728			530018

	Total		110318617			89234416

4	Segment Liabilities
a)	Treasury		5534970			3873249
b)	Retail Banking		59878546			52579290
c)	Wholesale Banking		27028720			19125490
d)	Other banking operations		3967293			2902368
e)	Unallocated		2913542			1545480

	Total		99323071			80025877

5	Capital Employed
	(Segment Assets - Segment Liabilities)
a)	Treasury		29554468			22462391
b)	Retail Banking		(22687887	)		(22996398	)
c)	Wholesale Banking		2675337			8089393
d)	Other banking operations		3717442			2668615
e)	Unallocated		(2263814	)		(1015462	)

	Total		10995546			9208539

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.

Notes :

1	Consolidated Statement of Assets and Liabilities as at March 31, 2018 is given below.


			( ₹ in lacs)
Particulars	As at 31-03-2018		As at 31-03-2017
CAPITAL AND LIABILITIES	Audited		Audited
Capital		51902		51251
Reserves and Surplus		10908011		9128144
Minority Interest		35633		29144
Deposits		78837514		64313425
Borrowings		15644208		9841564
Other Liabilities and Provisions		4841349		5870888

Total		110318617		89234416

ASSETS
Cash and balances with Reserve Bank of India		10468821		3791055
Balances with Banks and Money at Call and Short notice		1837335		1140057
Investments		23846092		21077711
Advances		70003384		58548099
Fixed Assets		381056		381470
Other Assets		3781929		4296024

Total		110318617		89234416

The above results represent the consolidated financial results for HDFC Bank Limited and its subsidiaries constituting the ‘Group’ and the ‘Group’s’ share of profits in an associate. These results have been approved by the Board of Directors of the Bank at its meeting held on April 21, 2018. There are no qualifications in the auditor’s report for the year ended March 31, 2018. The information presented above is extracted from the audited consolidated financial statements.

The above results are prepared in accordance with the principles set out in Accounting Standard 21- Consolidated Financial Statements and Accounting Standard 23 - Accounting for Investments in Associates in Consolidated Financial Statements as prescribed by The Institute of Chartered Accountants of India.

4	The Group has consistently applied its significant accounting policies in the preparation of its annual financial statements during the years ended March 31, 2018 and March 31, 2017.

In terms of revised Accounting Standard (AS) 4 ‘Contingencies and Events occurring after the Balance sheet date’ as notified by the Ministry of Corporate Affairs through amendments to Companies (Accounting Standards) Amendment Rules, 2016, the Group has not appropriated proposed dividend (including tax) aggregating ₹ 4,092.48 crore (previous year ₹ 3,408.54 crore) from Statement of Profit and Loss for the year ended March 31, 2018. However, the effect of the proposed dividend has been reckoned by the Group in determining capital funds in the computation of capital adequacy ratio as at March 31, 2018 and March 31, 2017.

In accordance with RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio and liquidity coverage ratio under the Basel III Framework. The Bank’s Pillar 3 disclosures are available on its website at the following link: http://www.hdfcbank.com/ aboutus/ basel_disclosures/ default.htm. These Pillar 3 disclosures have not been subjected to audit or review by the statutory auditors.

7	Figures of the previous year have been regrouped / reclassified wherever necessary to conform to current year classification.

8	₹ 10 lac = ₹ 1 million

₹ 10 million = ₹ 1 crore


Place : Mumbai		Aditya Puri
Date : April 21, 2018		Managing Director

Regd. Office : HDFC Bank Ltd., HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai - 400013.


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

HDFC Bank Limited

FINANCIAL RESULTS (INDIAN GAAP) FOR THE QUARTER AND YEAR ENDED

MARCH 31, 2018

The Board of Directors of HDFC Bank Limited approved the Bank’s (Indian GAAP) results for the quarter and full year ended March 31, 2018, at their meeting held in Mumbai on Saturday, April 21, 2018. The accounts have been subjected to an audit by the statutory auditors of the Bank.

STANDALONE FINANCIAL RESULTS:

Profit & Loss Account: Quarter ended March 31, 2018

The Bank’s total income for the quarter ended March 31, 2018 was ₹ 25,549.7 crore, up from ₹ 21,560.7 crore for the quarter ended March 31, 2017. Net revenues (net interest income plus other income) increased by 19.1% to ₹ 14,886.3 crore for the quarter ended March 31, 2018 from ₹ 12,501.4 crore in the corresponding quarter of the previous year. Net interest income (interest earned less interest expended) for the quarter ended March 31, 2018 grew by 17.7% to ₹ 10,657.7 crore, from ₹ 9,055.1 crore for the quarter ended March 31, 2017, driven by average asset growth of 16.9% and a core net interest margin for the quarter of 4.3%.

Other income (non-interest revenue) at ₹ 4,228.6 crore was 28.4% of the net revenues for the quarter ended March 31, 2018 and grew by 22.7% over ₹ 3,446.3 crore in the corresponding quarter ended March 31, 2017. The four components of other income for the quarter ended March 31, 2018 were fees & commissions of ₹ 3,329.7 crore ( ₹ 2,523.0 crore in the corresponding quarter of the previous year), foreign exchange & derivatives revenue of ₹ 416.4 crore ( ₹ 356.7 crore for the corresponding quarter of the previous year), loss on revaluation / sale of investments of ₹ 22.0 crore (gain of ₹ 180.4 crore in the corresponding quarter of the previous year) and miscellaneous income, including recoveries and dividend, of ₹ 504.5 crore ( ₹ 386.2 crore for the corresponding quarter of the previous year).


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

Operating expenses for the quarter ended March 31, 2018 were ₹ 6,050.6 crore, an increase of 15.9% over ₹ 5,222.0 crore during the corresponding quarter of the previous year. The core cost-to-income ratio for the quarter was at 40.6% as against 42.4% for the corresponding quarter ended March 31, 2017.

Provisions and contingencies for the quarter ended March 31, 2018 were ₹ 1,541.1 crore (consisting of specific loan loss provisions ₹ 1,132.5 crore, general provisions ₹ 153.4 crore, and other provisions ₹ 255.3 crore) as against ₹ 1,261.8 crore (consisting of specific loan loss provisions ₹ 977.9 crore, general provisions ₹ 280.3 crore, and other provisions ₹ 3.6 crore) for the quarter ended March 31, 2017. Profit before tax for the quarter ended March 31, 2018 was up 21.2% to ₹ 7,294.6 crore.

After providing ₹ 2,495.3 crore for taxation, the Bank earned a net profit of ₹ 4,799.3 crore, an increase of 20.3% over the quarter ended March 31, 2017.

Profit & Loss Account: Year ended March 31, 2018

For the year ended March 31, 2018, the Bank earned total income of ₹ 95,461.7 crore. Net revenues (net interest income plus other income) for the year ended March 31, 2018 were ₹ 55,315.2 crore, up by 21.7% over ₹ 45,435.7 crore for the year ended March 31, 2017. For the year ended March 31, 2018, the core net interest margin was 4.3%. Core cost to income ratio was at 41.7% for the year ended March 31, 2018, as against 44.5% for the previous year.

The Bank’s net profit for year ended March 31, 2018 was ₹ 17,486.8 crore, up 20.2%, over the year ended March 31, 2017.


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

Balance Sheet: As of March 31, 2018

Total balance sheet size as of March 31, 2018 was ₹ 1,063,934 crore as against ₹ 863,840 crore as of March 31, 2017.

Total deposits as of March 31, 2018 were ₹ 788,771 crore, an increase of 22.5% over March 31, 2017. As of March 31, 2018 current account deposits were at ₹ 119,283 crore and savings account deposits at ₹ 223,810 crore grew by 15.6% over March 31, 2017. Time deposits were at ₹ 445,678 crore, an increase of 33.2% over the previous year, resulting in CASA deposits comprising 43.5% of total deposits as on March 31, 2018.

Total advances as of March 31, 2018 were ₹ 658,333 crore, an increase of 18.7% over March 31, 2017. This loan growth was contributed by both segments of the Bank’s loan portfolio with the loan mix between retail:wholesale at 57:43. As per regulatory [Basel 2] segment classification, retail loans grew by 27.4% and wholesale loans grew by 9.4%.

Capital Adequacy

The Bank’s total Capital Adequacy Ratio (CAR) as per Basel III guidelines was at 14.8% as on March 31, 2018 (14.6% as on March 31, 2017) as against a regulatory requirement of 10.875% including Capital Conservation Buffer of 1.875%. Tier 1 CAR was at 13.2% as of March 31, 2018 compared to 12.8% as of March 31, 2017. Common Equity Tier 1 Capital ratio was at 12.2% as of March 31, 2018. Risk-weighted Assets were at ₹ 800,126 crore (as against ₹ 640,030 crore as at March 31, 2017).

DIVIDEND

The Board of Directors recommended a dividend of ₹ 13 per equity share of ₹ 2 for the year ended March 31, 2018, as against ₹ 11 per equity share of ₹ 2 for the previous year. This would be subject to approval by the shareholders at the next annual general meeting.


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

NETWORK

As of March 31, 2018, the Bank’s distribution network was at 4,787 banking outlets and 12,635 ATMs across 2,691 cities / towns as against 4,715 banking outlets and 12,260 ATMs across 2,657 cities / towns as of March 31, 2017. Of the total banking outlets, 53% are in semi-urban and rural areas. Number of employees were at 88,253 as of March 31, 2018 (as against 84,325 as of March 31, 2017).

ASSET QUALITY

Gross non-performing assets were at 1.30% of gross advances as on March 31, 2018, as against 1.29% as on December 31, 2017 and 1.05% as on March 31, 2017. Net non-performing assets were at 0.4% of net advances as on March 31, 2018. The Bank held floating provisions of ₹ 1,451 crore as on March 31, 2018.

SUBSIDIARIES

HDFC Securities Limited (HSL) is amongst the leading retail broking firms in India. As on March 31, 2018, the Bank held 97.7% stake in HSL.

For the year ended March 31, 2018, HSL’s total income grew by 42.5% to ₹ 788.3 crore. Net profit for the year was ₹ 344.4 crore, a growth of 59.5% over ₹ 215.9 crore in the previous year.

As on March 31, 2018 HSL had 259 branches across 171 cities / towns in the country.

HDB Financial Services Limited (HDBFSL) is a non-deposit taking non-bank finance company (‘NBFC’) offering wide range of loans and asset finance products to individuals, emerging businesses and micro enterprises. As on March 31, 2018, the Bank held 95.9% stake in HDBFSL.

As on March 31, 2018, HDBFSL’s balance sheet size was at ₹ 44,754 crore. The total loan book grew by 34.9% to ₹ 43,573 crore as on March 31, 2018 (as against ₹ 32,292 crore as of March 31, 2017).

For the year ended March 31, 2018, HDBFSL’s net interest income grew by 36.9% to ₹ 2,788.9 crore (as against ₹ 2,037.2 crore in the previous year). The net profit for the year ended March 31, 2018 was ₹ 951.7 crore compared to ₹ 684.2 crore in the previous year, a growth of 39.1%.


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

As on March 31, 2018, HDBFSL had 1,165 branches across 831 cities / towns.

Gross NPAs were at 1.6% of gross advances and net NPAs were at 1.0% of net advances as on March 31, 2018. Total CAR was at 17.9% with Tier-I CAR at 13.2%.

CONSOLIDATED FINANCIAL RESULTS

The consolidated net profit for the year ended March 31, 2018 was ₹ 18,510.0 crore, up 21.4%, over the year ended March 31, 2017. Consolidated advances grew by 19.6% from ₹ 585,481 crore as on March 31, 2017 to ₹ 700,034 crore as on March 31, 2018.

Note:

₹ = Indian Rupees

1 crore = 10 million

All figures and ratios are in accordance with Indian GAAP.

BSE: 500180

NSE: HDFCBANK

NYSE: HDB

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.