HDFC Bank Board Reshuffle: Atanu Chakraborty Resigns as Part-time Chairman

Key Highlights:

• Atanu Chakraborty, part-time chairman and independent director of HDFC Bank, has resigned with immediate effect on March 18.
• Keki Mistry has been appointed as the interim part-time chairman effective March 19 for a period of three months.

Resignation Reason:

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Atanu Chakraborty has cited disagreements with certain practices and happenings within the bank over the past two years as the reason for his resignation. According to the bank's statement, there are no other material reasons for his departure.

Impact on Share Price:

HDFC Bank's American Depositary Receipts (ADRs) were trading around 3% lower at 12:30 am IST following Chakraborty's resignation.

Recent Performance:

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In the third quarter of FY26, HDFC Bank reported a 11.5% year-on-year increase in standalone net profit, aided by steady core income growth, robust deposit mobilisation, and stable asset quality. The bank's profit after tax for the quarter ended December 31, 2025 was Rs 18,654 crore, up from Rs 16,736 crore in the same period last year.

Financial Performance Metrics:

• Net interest income (NII) rose 6.4% year-on-year to Rs 32,620 crore in Q3 FY26.
• Core net interest margin stood at 3.35% on total assets and 3.51% on interest-earning assets during the quarter.