HDFC Bank , India's largest private sector bank by balance sheet size, has taken a significant step in its leadership continuity. The bank's Board of Directors has approved the re-appointment of Kaizad Bharucha as Deputy Managing Director for a three-year term, subject to regulatory and shareholder approvals.

Key Details of the Re-appointment

Bharucha's Journey with HDFC Bank

Kaizad Bharucha's association with HDFC Bank spans nearly three decades, having joined the institution in October 1995. His journey within the bank has been marked by significant contributions and steady progression:

• Joined HDFC Bank's board in 2014
• Longest-serving executive board member
• Elevated to Deputy Managing Director in April 2023

Areas of Responsibility

In his current role, Bharucha oversees critical aspects of HDFC Bank's operations:

• Assets franchise, including:
  • Retail asset products (Home Loans, Auto Loans, Personal Loans, etc.)
  • Rural Banking
  • MSME and SME segments
  • Wholesale segments (Emerging Corporate Group, Healthcare Finance, Corporate Banking)
• Corporate Social Responsibility initiatives
• ESG (Environmental, Social, and Governance) matters
• Inclusive Banking Initiatives Group

Professional Background

Before his tenure at HDFC Bank, Bharucha gained valuable experience in the banking sector:

• Worked with SBI Commercial and International Bank from 1986 to 1995
• Holds a Bachelor's degree in Commerce from Sydenham College, University of Mumbai

Strategic Contributions

Bharucha has been instrumental in several key areas of HDFC Bank's growth and development:

1. Risk Management: Played a crucial role in formulating credit and risk management policies.
2. Mergers and Acquisitions: Actively involved in due diligence and integration processes for significant mergers, including the recent HDFC Ltd merger.
3. Government Initiatives: Led the bank's participation in various government schemes, achieving top rankings among private sector banks in several programs.
4. Technology Transformation: Drove technological advancements, particularly in wholesale business and credit functions.
5. Corporate Social Responsibility: Under his leadership, HDFC Bank's CSR initiatives have been ranked among the top three in the country.

Board Committees

Bharucha serves on several important committees of HDFC Bank's board:

• Stakeholders' Relationship Committee
• CSR & ESG Committee
• Fraud Monitoring Committee
• Credit Approval Committee
• Committee for Resolution of NCLT Matters

This re-appointment underscores HDFC Bank's commitment to leadership continuity and strategic growth. As the bank navigates the evolving financial landscape, Bharucha's extensive experience and proven track record are expected to play a crucial role in shaping its future trajectory.

HDFC Bank , one of India's leading private sector banks, has continued its commitment to employee ownership by allotting an additional 20,66,610 equity shares to its employees under its Employee Stock Options Scheme (ESOS) and Restricted Stock Units (RSU) program.

Latest Share Allotment Details

The bank's recent allotment represents a significant distribution of equity to its workforce. The key details of this allotment are presented below:

Impact on Share Capital Structure

This latest allotment has resulted in a notable increase in the bank's paid-up share capital structure:

Strengthening Employee Engagement

The move underscores HDFC Bank's ongoing commitment to fostering a sense of ownership among its workforce. By offering equity participation through both ESOP and RSU programs, the bank aims to:

1. Align employee interests with long-term shareholder value
2. Enhance motivation and retention of key talent
3. Reward employees for their contributions to the bank's growth
4. Create a performance-driven culture across the organization

Regulatory Compliance and Transparency

HDFC Bank has duly informed both BSE Limited and National Stock Exchange of India Limited about this allotment through official communication dated December 18, 2025. The notification was signed by Ajay Agarwal, Company Secretary and Group Head-Secretarial Group Oversight, ensuring full transparency and compliance with regulatory requirements under Regulation 30.

Strategic Implications

This continued focus on employee equity participation demonstrates HDFC Bank's confidence in its future prospects and commitment to human capital development. As the banking sector faces increasing competition and technological disruption, such employee-centric initiatives position the bank to better retain talent and drive innovation in the financial services sector.