The appointment will follow the completion of the tenure of incumbent MD & CEO Shashidhar Jagdishan, who will step down at the close of business hours on 26 October 2026.

Anup Bagchi holds Management degree from Indian Institute of Management, Bangalore and an Engineering degree from Indian Institute of Technology, Kanpur.

Bagchi served as executive director of ICICI Bank from 2017 to 2023, overseeing retail, business and rural banking, and subsequently Wholesale Banking. During his tenure, he played a key role in strengthening the bank's retail franchise, driving profitable growth while maintaining credit and cost discipline.

Since June 2023, Mr. Bagchi has been serving as MD & CEO of ICICI Prudential Life Insurance, leading one of India's largest private life insurers, which is publicly listed

HDFC Bank is India's largest private sector lender by market capitalisation. As of 30 June 2026, the bank's distribution network comprised 9,694 branches and 20,958 ATMs across 4,175 cities and towns.

The bank had reported a 4.98% increase in standalone net profit to Rs 19,059.72 crore in Q1 FY27 as against Rs 18,155.21 crore posted in Q1 FY26. Total income declined 7.08% year on year (YoY) to Rs 92,184.38 crore during the period under review.

The scrip advanced 1.36% to end at Rs 719.35 on the BSE.