HDFC Bank Limited CC-Apr26.pdf · 2026-04-18
Thank you for the opportunity. Two questions. One is, I was hearing Sashi with interest in terms of the investments that are being made in the last 5 years. Are we now entering a cycle where the cost-to-income ratio has peaked and we can expect significant benefits to come through? I know part of it will come from revenue growth itself because loan growth is bouncing back. This should be a better year for margins, etcetera. But on the opex side, is there a possibility that the overall opex could slow down from here because a large pa rt of these investments that you made are done? Or do you think this is an ongoing process and there's not too many levers?
Thanks. The second question is on retail loan growth. You've done well in terms of recovering the overall loan growth, but retail still I think it's in the single digits. I think it has some upside for a franchise like yours. Going forward, what would be the levers to accelerate retail loan growth, which products, which channels, more harvesting of cross -selling within your existing customer base? Should we expect some forward momentum in that part of the business in the coming FY27 early in the year? And would it be back-ended or front-ended?