HDFC Bank expects its employee count to remain largely stable in the near term before hiring picks up over the next three to four years, management indicated during the lender’s Q2 FY27 earnings call on 18 October 2026, as technology and automation enable a greater share of staff to move into customer-facing roles.
Sashi Jagdishan, Managing Director and Chief Executive Officer, HDFC Bank, used the call to welcome Anup Bagchi as the incoming MD and CEO, with Jagdishan retiring on 26 October 2026 and Bagchi taking charge from 27 October 2026 for a three-year term. The bank also disclosed that Deputy Managing Director Kaizad Bharucha has requested early retirement effective at the end of December 2026.
On staffing, management told analysts that technology and automation will let more employees move into customer-facing roles while reducing the need to grow back-end functions.
“The bank’s headcount has grown at roughly a 10% compound annual rate over a longer period, while business volumes have risen at high-teen rates, creating productivity gains,” said Anup Bagchi. He added that disciplined capital deployment, execution, governance and trust will anchor the bank’s strategy as digital infrastructure and AI open new opportunities.
HDFC Bank’s total employee strength stood at 2,11,178 as of 31 March 2026, down 3,343 from the previous year, marking the first annual reduction in nine years. Non-supervisory employees fell by 8,153 to 1,62,797, even as middle management rose by 1,252 and junior management grew by 3,543.
For Q2 FY27, HDFC Bank reported net interest margin of 3.32% and gross NPAs at 1.11%, down 13 basis points year-on-year. Period-end advances under management stood at Rs 33,075 billion, up 15.3% year-on-year, while deposits rose 18.8% to Rs 33,275 billion as of 30 September 2026.
