Sashidhar Jagdishan has an overall experience of over 31 years. He has completed his graduation in Science with specialization in Physics, is a chartered accountant by profession and holds a master's degree in Economics of Money, Banking & Finance from the University of Sheffield, United Kingdom.

Prior to Jagdishan's appointment as MD & CEO of the bank, he was the group head of the bank in addition to overseeing the functions of finance, human resources, legal & secretarial, administration, infrastructure, corporate communications and corporate social responsibility.

Meanwhile, the bank also held analysts meet on Monday where it indicated that its gross non-performing asset ratio is likely to increase to 1.4% as of 1 July, compared to 1.2% as of 30 June. In a presentation, the bank also noted that the net NPA ratio will rise to 0.4%, from 0.3% at the end of the first quarter.

The rise in bad loans is owing to HDFC'S non-retail housing loan portfolio where the gross bad loans are at 6.7% as of 1 July.

As of 1 July, the provision coverage ratio for the combined entity is at 74%, compared to 75% as of 30 June.

HDFC Bank is private sector lender. As of 30 June 2023, HDFC Bank's distribution network was at 7,860 branches and 20,352 ATMs/Cash Deposit & Withdrawal Machines (CDMs) across 3,825 cities / towns as against 6,378 branches and 18,620 ATMs / CDMs across 3,203 cities / towns as of 30 June 2022.

The private lender's net profit rose 29.97% to Rs 11,951.77 crore on 39.12% jump in total income to Rs 57,816.67 crore in Q1 FY24 over Q1 FY23.

The scrip slipped 3.07% to currently trade at Rs 1,579 on the BSE.