New Delhi, April 18
HDFC Bank on Saturday said the process for re-appointing its Managing Director and CEO Sashidhar Jagdishan will be taken up 'in due course', with the bank's nomination and remuneration committee currently seized of the matter.
Responding to a query by NDTV Profit, Deputy Managing Director Kaizad Bharucha said the committee will take a final call on Jagdishan's reappointment at an appropriate time.
Jagdishan's current tenure is set to end in October 2026.
Moreover, speaking during a post-earnings conference call, Jagdishan said he, along with Bharucha, supports interim chairman Keki Mistry continuing in the role beyond the mandated three-month period, subject to board approval and regulatory processes.
"We are all rooting for Mistry to continue, but there are processes to be followed before this can be taken up by the NRC and the board," he said.
Mistry was appointed interim chairman on March 18, a day after the abrupt resignation of former chairman Atanu Chakraborty.
Jagdishan said an external firm has been engaged to review Chakraborty's resignation letter, and a summary of its findings will be released in due course. Chakraborty had stepped down, citing that certain practices within the bank were "not congruent" with his personal ethics and values, while maintaining that his exit was not linked to any wrongdoing.
On allegations of mis-selling of Additional Tier-1 (AT-1) bonds by the bank's Dubai branch, Jagdishan said the lender did not sell such instruments to retail customers and that investors were aware of the associated risks.
Separately, the bank reported its fourth-quarter earnings for FY26, posting an 8 per cent year-on-year rise in consolidated net profit to Rs 20,350 crore, compared to Rs 18,834 crore in the year-ago period.
Shares of HDFC Bank ended marginally higher on Friday at Rs 800, up 0.57 per cent on the NSE.
- IANS
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