HDFC Bank appointed Anup Bakshi as MD and CEO for three years effective October 27, the bank's first external CEO

Mon 5 Oct 2026

Q2 advances growth

16.3 percent

Q2 deposits growth

18.8 percent

CASA ratio

32 percent

Pre-merger CASA level

44 percent

Q1 profit growth

5 percent

Heard on business television between 10:51:42 - 10:54:42 IST.

• Anup Bakshi joined ICICI Group in 1992, headed ICICI Securities, was executive director at ICICI Bank and most recently ran ICICI Prudential Life, bringing experience across retail, wholesale banking, capital markets and insurance.
• He inherits challenges including funding: Q2 advances grew 16.3%, deposits grew 18.8%, but credit-deposit ratio remains high and CASA is around 32%, down from over 44% pre-merger.
• Profit growth was just 5% in Q1 with margins at an all-time low and ROE/ROA below pre-merger levels, raising questions on how quickly he can close the gap with ICICI Bank's profitability.
• Street sees the appointment positively, citing it removes an overhang from leadership uncertainty, AT1 bonds and MSRDC matter issues; brokerages including Jefferies, Nomura, Citi are buy rated, Bernstein, Macquarie, Morgan Stanley positive, with target prices ranging from 880 to 1150 rupees.

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