HDFC Bank maintains strong ratings, bolstered by deposit growth

HDFC Bank Limited announced that India Ratings and Research Private Limited has affirmed its Long-Term Issuer Rating at 'IND AAA'/Stable as of November 17, 2025. This rating is supported by the bank's financial strength, diverse earning profile, and consistent performance within the Indian banking system. Certificates of Deposit worth INR300bn have been assigned an 'IND A1+' rating, while existing Certificates of Deposit totaling INR950bn have been affirmed at 'IND A1+'.

Fixed deposits and infrastructure bonds (INR200bn) were affirmed at 'IND AAA'/Stable. Basel-III compliant Tier 2 bonds (INR250bn) also received an 'IND AAA'/Stable affirmation, and Basel-III compliant Tier 1 bonds (INR150bn) were affirmed at 'IND AA+'/Stable. The ratings reflect HDFC Bank's substantial market share, which increased to 12.0% in deposits and 14.4% in net advances by FYE25, solidifying its position as the second-largest bank in India.

The bank's strong capital buffers, reflected by a standalone common equity tier-1 (CET1) ratio of 17.5% in 2QFY26, and its strategic focus on deposit growth, which outpaced the industry at 12.1% year-on-year, further reinforce its credit profile. HDFC Bank's liquidity remains strong, with a liquidity coverage ratio of 120% at 2QFYE26, exceeding regulatory requirements.