The private sector lender said it has launched Neev, its in-house enterprise Generative Artificial Intelligence platform, marking a shift from digitising banking services to embedding artificial intelligence across core operations. The platform will allow business teams to build artificial intelligence-powered applications while ensuring governance, security and regulatory compliance. It is expected to support customer service, lending, wealth management and internal operations.
Alongside its technology investments, HDFC Bank has proposed raising up to ₹60,000 crore through Additional Tier-I bonds, Tier-II bonds and long-term infrastructure bonds via private placements. The capital raising plan is intended to strengthen the bank’s capital base, meet regulatory requirements and support future lending as credit demand increases.
The annual report also revisited the resignation of former Part-time Chairman and Independent Director Atanu Chakraborty, an episode that Managing Director and Chief Executive Officer Sashidhar Jagdishan described as a “challenging event” for the bank.
“Towards the end of the Financial Year 2025-26, the Bank faced a challenging event with the resignation of Mr Atanu Chakraborty,” Jagdishan wrote, adding that the board responded by appointing Keki Mistry as interim Part-time Chairman with Reserve Bank of India approval and commissioning independent reviews by domestic and international law firms.
In his message to shareholders, interim Chairman Keki Mistry said Chakraborty’s resignation had “led to speculation on the Bank’s governance standards”, but maintained that the bank had acted swiftly and remained committed to high governance standards. “As always, we remain fully committed to maintaining the highest standards of transparency, accountability and oversight,” Mistry said after noting that external legal reviews had been completed and their findings disclosed to stock exchanges.
AI-led transformation
Neev has been built as a full-stack enterprise Generative Artificial Intelligence platform that provides model access, governance and deployment capabilities. The bank said it will enable business teams to develop artificial intelligence-powered applications while maintaining enterprise-wide consistency, security and regulatory compliance across operations.
Also Read: HDFC Bank annual report details Atanu Chakraborty’s pay, recounts events around his exit
The bank is integrating Artificial Intelligence capabilities across Mobile Banking, NetBanking and WhatsApp Banking to deliver faster and more personalised customer experiences.
Capital raising to support growth
HDFC Bank is seeking shareholder approval to raise up to ₹60,000 crore through Additional Tier-I bonds, Tier-II bonds and long-term infrastructure bonds via private placements.
The proposed fundraising is aimed at strengthening the bank’s capital base, maintaining regulatory capital requirements and providing flexibility to support future credit growth as loan demand rises.
Wealth management expands
The lender said its wealth management business continued to grow during FY2025-26. Its SmartWealth platform crossed 1.5 million downloads and now serves more than 850,000 clients, with assets under management of ₹6.36 lakh crore.
The bank expanded its investment offerings from 23 to 31 products and conducted more than 100 investor education programmes across India. Its mutual fund distribution business also grew, with assets under management rising to ₹1,67,992 crore, while Systematic Investment Plan mobilisation increased 18% during the financial year.
Sustainability commitments
HDFC Bank reiterated its focus on environmental, social and governance initiatives, retaining a CRISIL Environmental, Social and Governance score of 72 and ranking in the 82nd percentile of the S&P Global Corporate Sustainability Assessment. It also reaffirmed its target of achieving Scope 1 and Scope 2 carbon neutrality by FY2031-32.
During the year, the bank planted 1.5 million trees, taking its cumulative plantation count beyond 9.5 million, while expanding digital communication initiatives aimed at reducing paper consumption and associated carbon emissions.
Also Read: HDFC Bank CEO calls Atanu Chakraborty’s exit a ‘challenging event’; Keki Mistry reaffirms governance
(Edited by : Asmita Pant)
