#1HDFC BANK Classification - Public HDFC Bank Presentation May 2023 Classification - Public RISK PROFIT STOCK#2HDFC BANK Contents 2 HDFC Bank Presentation, May 2023 HDFC BANK 1. CEO's Priorities 2. Positioned for attractive macro-variables 3. FY 2023 performance in context 4. Driving growth at scale#3HDFC BANK 3 HDFC Bank Presentation, May 2023 CEO's Priorities HDFC BANK#4CEO PRIORITIES - What we have – positioned to consistently create value What we have Onboarding At-scale distribution 4 Robust risk management Attractive macro- variables HDFC Bank Presentation, May 2023 Create incremental value HDFC BANK Priorities to drive Employee first Growth strategy Harness people capabilities The Next 3-5 Years Customer engagement Customer service Capture Macro share Continue Technology Excellence Customer first Technology first ↓ Power of the Group#5CEO PRIORITIES Employee first Onboarding HDFC BANK Training Mentoring & Coaching Career Progression Supervisory Engagement Underpinned by Senior Management connecting across all levels in the organisation 5 HDFC Bank Presentation, May 2023 Motivated workforce leading to enhanced customer experience T#6CEO PRIORITIES Customer first Service mindset leads to meeting customer needs Distribution Reach Technology People Engagement Speed of delivery Relationship management 883 Customers Self Service Assisted Journeys Increase in customer wallet share Increase in product holding Increase in customer retention Transitioning from product centric to customer centric service-oriented organisation 6 HDFC Bank Presentation, May 2023 HDFC BANK#7CEO PRIORITIES Technology first Platforms for customer engagement • HDFC BANK Improve products and services HDFC BANK Reinforce CORE and infrastructure PayZapp 2.0 Xpress Car Loans Customer Experience Hub SmartHub Vyapaar Mobile and net banking re-write myCards Acquisition platform New corporate internet banking Hollow the core 1. Landing zone AI/ML - neural network Data center migration 7 HDFC Bank Presentation, May 2023 Most digitized acquisition | transaction | services Bank#8HDFC BANK POWER OF THE GROUP Group customer experience, avenue to deepen relationship Group companies provide avenue for future growth HDFC WITH YOU, RIGHT THROUGH GHDFC Customers 5 mn Customers MUTUAL FUND 7 mn 8 HDFC Bank Presentation, May 2023 HDFC BANK Customers : 83 mn Adding ~1 mn per month # Mn 9 11 6 7 4 3 2018 2019 2020 2021 2022 New liability relationships added 2023 Customers 6 mn HDFC Life Customers 15 mn HDFC ERGO#9HDFC BANK 6 HDFC BANK Positioned for attractive macro-variables HDFC Bank Presentation, May 2023#10MACRO ENVIRONMENT Compelling opportunities $ i - HDFC BANK One of the fastest growing economies in the world – real GDP growth ~7%; rising affluence Credit growth mirroring GDP growth with a multiplier of ~2x Significant under penetration of credit - potential to extend credit to 400mn - 500 mn individuals¹ Aspiration mirroring western/ global trends B Increasing digital adoption - ~700 mn active internet users Augurs well for hybrid acquisition and servicing model Stable, inter-operable infrastructure - Aadhar, UPI, AA, Credit Bureaus etc. Best levels of property affordability coupled with government support enhances mortgage potential 1. As per report by TransUnion CIBIL 10 HDFC Bank Presentation, May 2023#11CREDIT PENETRATION GDP growth to drive bank credit growth Banking sector credit growth has been ~2x the average YoY GDP growth during FY10 to FY22 Credit growth rate for banks compared with GDP growth rate (%) HDFC BANK Growing share of private banks in bank credit Category-wise share of credit Average YoY growth 100% FY'10-14 FY'14-18 FY'18-233 90% GDP 7.2% 7.6% 3.8% 80% Overall banking sector1 17% 10% 9% 70% HDFC Bank 24% 21% 19% 60% 50% Growth multiplier² 40% Overall banking sector 2.4 1.3 2.4 30% 20% Credit growth mirroring GDP growth - multiplier of ~2.4x 10% 0% 2011-2014 ■PSU Banks ■ Private Banks 2015-2018 2019-2022 ■Foreign Banks Source: International Monetary Fund, HDFC Bank, Reserve Bank of India 1. Overall banking sector credit includes scheduled commercial banks 2. Banks' YoY growth rate / GDP growth rate 3. December 2022 used as proxy data for overall banking sector for FY23 11 HDFC Bank Presentation, May 2023 -39%#12FOUNDATION Ubiquitous bank - HDFC Bank Story HDFC BANK Pan-India distribution network Complete suite of products and services Growing customer base Proven ability to execute Well diversified loan book; Granular deposits Prudent and robust risk management with industry-best asset quality Attractively positioned to capture larger share of growing Indian economy 12 HDFC Bank Presentation, May 2023#13HDFC BANK 13 HDFC Bank Presentation, May 2023 FY 2023 performance in context HDFC BANK#14LEADING PERFORMANCE What has been achieved by the bank ODD HDFC BANK Delivered double-digit deposit and assets growth of 20%+ CAGR ; faster than the banking sector Best In class branch productivity, people productivity, balance sheet productivity and asset quality Low credit cost; allows investments for future through enhanced distribution and digitisation Low and stable GNPAs throughout the credit cycles (0.9% - 1.3%) ROA has consistently ranged -1.9% -2.1%; one of the highest across banks in India. 14 HDFC Bank Presentation, May 2023#15LEADING RESPONSIBLY HDFC Bank at a glance Prominence #1 Private sector bank in India* US$ 100+ bn Market capitalisation 170k+ Employees #1 Most Valuable Indian Banking Brand# L Market share ~11% Advances -10% Deposits 47% POS and e-com^^ 28% Credit cards spends ^^ Reach 83 mn Customer base 7.8k+ Banking branches 23k+ Banking outlets ~ 4 mn Merchant acceptance points Social impact *8 bn CSR spend > 500 bn HDFC BANK Contribution to exchequer 52% Branches in semi-urban and rural 15k + CSC - BCS 15 HDFC Bank Presentation, May 2023 *in terms of asset size | #Kantar BrandZ Most Valuable Indian Brands 2022 Rankings | ^Domestic | ^^Feb'23 CSC BCS: Customer Service Centre - Business Correspondents Unless otherwise stated, information is as at or for the year ended March 2023#16RECENT YEAR IN CONTEXT FY 2023 ترا HDFC BANK Total Deposits grew 21% or by Rs. 3,242 bn; stood at Rs. 18,834 bn as at March 31, 2023 Gross advances grew 17% or by Rs. 2,337 bn; stood at Rs. 16,142 bn at March 31, 2023 Customer base at 83 mn (up by 12 mn) – potential to engage and deepen relationships - Branch network at 7,821 (additions of 1,479) - distribution strength enables customer engagement Announced merger of HDFC Limited with HDFC Bank in April'22 - to be consummated in next quarter 16 HDFC Bank Presentation, May 2023#17HDFC BANK STANDALONE Key Financial Parameters for FY2023 ล Total advances increased by 16.9% to Rs. 16,142 bn Net profit up by 19% to Rs. 441 bn Deposits up by 20.8% to Rs. 18,834 bn; CASA 44% Gross NPA 1.12% 1 Net interest margin^ at 4.1% Return on Assets at 2.1% ₹1 目 Cost-to-income ratio at 40% Capital adequacy ratio of 19.3% of which Tier I at 17.1% ата 17 HDFC Bank Presentation, May 2023 HDFC BANK Standalone Indian GAAP figures (bn = Billion); = Rupees; "based on total assets#18HDFC BANK DIVERSIFIED LOAN BOOK - Sustained growth across segments – risk parameter driven Growth across all segments Incremental loan growth Loans (Rs. bn) Retail Mar'21 Mar'22 Mar'23 FY'22 YoY | FY'23 YoY 4,617 5,318 6,346 15% 19% 0.5 CRB 3,717 4,847 6,292 30% 30% Wholesale 3,099 3,640 4,097 17% 13% Gross loans 11,433 13,805 16,735 21% FY'22 21% (pre IBPS/BRDS) IBPC/BRDS (592) Total 11,433 13,805 16,142 21% 17% 1.1 18 HDFC Bank Presentation, May 2023 0.7 0.5 1.4 FY'23 Retail ■CRB Wholesale Rs. Bn. 1.0#19MULTI-CHANNEL STRATEGY - BRANCH; VIRTUAL; ABCP/GIB; NR; WEALTH Mobilising deposits from multiple banking channels Multi-Channel Strategy Granular deposits HDFC BANK CASA ratio improved over pre-Covid level Wealth Imperia 42% 19% 17% I 48% 44% 33% 27% 30% 81% 83% Classic Preferred VRM Imperia VRM Preferred Classic on Prime NR Phone Mar'22 Branch managed 19 HDFC Bank Presentation, May 2023 15% 15% 15% Mar'23 Mar'20 Retail Wholesale Retail anchoring deposit growth Mar'22 ■CA Mix SA Mix Mar'23#20BUSINESS MIX Product mix impacts NIM; RoA remains consistent Loan mix Covid19 Pandemic HDFC BANK 57% 54% 52% 53% 53% 52% 46% 56% 53% 50% 46% 48% 48% 50% 47% 47% 54% 47% 43% 44% FY14 Retail/Wholesale mix as per Basel classification FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Retail (%) Wholesale (%) NIM and ROA 4.4% 4.4% 4.3% 4.3% 4.3% 4.3% 4.3% 4.2% 4.1% 4.1% 2.0% 2.0% 1.9% 1.9% 1.9% 1.9% 2.0% 2.0% 2.0% 2.1% FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 ROA % -NIM % 20 HDFC Bank Presentation, May 2023#21STRONG NON-FUNDED REVENUE Granular and well diversified fee income Other Income Mix Fee Income Mix HDFC BANK 100% 7% 7% 7% Non-NII (Rs. bn) FY'21 FY'22 FY'23 FY'22 YoY | FY'23 YoY 90% 18% 20% 18% Fees and 80% 162 195 238 21% 22% Commission 70% FX & Derivatives 24 39 41 60% 4% 60% 33% 30% 32% 50% P&L on 39 23 -11 -41% -150% Investment 40% 30% 19% 20% 20% Others 27 38 44 39% 17% 20% Total Non-NII 252 295 312 17% 6% 10% 22% 23% 23% 0% 21 HDFC Bank Presentation, May 2023 FY'21 FY'22 FY'23 TPP business ■Retail assets Payments Retail liabilities Wholesale Well diversified fee income; pre-dominantly non-fund based#22CONTINUING INVESTMENTS Efficiency in growth Cost to Income and % of new branches Covid19 Pandemic HDFC BANK 46% 45% 44% 43% 41% 40% 40% 39% 36% 37% 25% 24% 25% 15% FY14 FY15 FY16 FY17 6% FY18 9% 11% 17% 28% 5% FY19 FY20 FY21 FY22 FY23 1% of New branches CTI Branches opened in last 2 years considered new Operating expenses as % of assets and RoA 2.8% 2.7% 2.7% 2.5% 2.5% 2.4% 2.3% 2.2% 2.1% 2.1% 2.0% 2.0% 1.9% 1.9% 1.9% 1.9% 2.0% 2.0% 2.0% 2.1% FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 RoA % Opex % of Assets 22 HDFC Bank Presentation, May 2023#23RISK MANAGEMENT Resilient asset quality and low credit cost Gross NPA and credit cost 1.7% Credit cost % of advances 0.7% 1.1% 0.3% 0.7% 1.2% 1.2% 1.1% 1.0% 0.8% 0.7% FY'21 ■GNPA FY'22 FY'23 ■Specific credit cost 1.2% 1.2% 1.0% GNPA by segment 1.9% HDFC BANK 1.7% 1.6% 1.4% 1.2% 1.1% 0.8% 0.5%.5% Retail CRB CRB (ex-Agri) Wholesale Mar 21 Mar'22 Mar'23 ■Contingent credit cost O General credit cost Resilient asset quality leading to low credit cost Healthy asset quality across segments 23 HDFC Bank Presentation, May 2023#24STANDALONE AND CONSOLIDATED Income Statement HDFC BANK Standalone Consolidated Rs. bn FY22 FY23 YOY FY22 FY23 YOY Net Interest Income 720.1 868.4 21% 773.5 929.7 20% Non-Interest Income 295.1 312.2 6% 317.6 339.2 7% Net revenue 1,015.2 1,180.6 16% 1,091.1 1,268.9 16% Operating expenses 374.4 476.5 27% 403.1 515.3 28% PPOP 640.8 704.1 10% 688.0 753.6 10% Provisions 150.6 119.2 (21%) 179.3 138.6 (23%) Profit before tax 490.2 584.9 19% 508.7 615.0 21% Profit after tax 369.6 441.1 19% 380.5 460.0 21% Earnings per share (Rs.) 67 79 19% 69 83 20% Book value per share (Rs.) 433 502 NM* 446 519 NM* 24 HDFC Bank Presentation, May 2023 *Not meaningful: Dividend pay-out reckoned; not comparable#25HDFC BANK 25 25 HDFC Bank Presentation, May 2023 Driving growth at scale HDFC BANK#26BANKING LIFECYCLE Value accretion 26 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#27FOUNDATIONAL PILLARS How has the Bank delivered $ Execution in driving a large distribution High quality deposits franchise with ability to cross sell Innovation in products Driven off advanced analytics and digital platforms Strong credit culture and scientific risk management Granular policies and early warning systems in place 27 HDFC Bank Presentation, May 2023 HDFC BANK#28BANKING LIFECYCLE Value accretion 28 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#29BANKING LIFECYCLE Brand value creation Customer centricity; superior service experience • HDFC BANK * Brand value of $ 33 Bn ($ 21 Bn in FY'20) Most valuable Indian bank brand* Comprehensive and need-based product offerings • 2nd most valuable Indian brand* Analytics driven risk management Digital journeys 29 HDFC Bank Presentation, May 2023 * • 61st most valuable global brand* • Brand health KPI - TOM of 23%# • Relationship NPS of 54%^ *Kantar Brandz 2022 #Source: Kantar; TOM - Top of mind awareness measured in Feb'23 ^Source: NPS Prism survey data; Bain analysis 2022#30PRODUCTS AND SERVICES Comprehensive, consistent and need-based offerings Loan Products Auto Loan Personal Loans Home Loans / Mortgages Commercial Vehicles Finance Retail Business Banking Credit Cards Loans Against Gold 2-Wheeler Loans Construction Equipment Finance Consumer Durable Loans Agri and Tractor Loans Education Loans Self Help Group Loans Joint Liability Group Loans Kisan Gold Card Loans Against Securities Retail Banking H Wholesale Banking HDFC BANK Treasury Deposit Products Other Products/Services Savings Accounts Current Accounts Fixed/Recurring Deposits Corporate Salary Accounts • Escrow Accounts Depository Accounts Mutual Fund Sales Private Banking Insurance Sales (Life, General) Non-resident Indian (NRI) Services Bill Payment Services Point of Sale (POS) Terminals Debit Cards Foreign Exchange Services Broking (HDFC Securities Ltd.) Gold and Silver Bullion business Commercial Banking Working Capital Term Loans Bill / Invoice discounting Forex & Derivatives Letters of Credit Guarantees Transactional Banking Cash Management Custodial Services Clearing Bank Services Correspondent Banking Tax Collections Banker to Public Issues Investment Banking Debt Capital Markets Equity Capital Markets Project Finance M&A and Advisory Key Segments • Large Corporates Emerging Corporates Cash Management Custodial Services Clearing Bank Services Correspondent Banking Tax Collections Banker to Public Issues Products/Segments Foreign Exchange Debt Securities Derivatives Equities Other Functions Asset Liability Management Statutory Reserve Management 30 HDFC Bank Presentation, May 2023#31BANKING LIFECYCLE Value accretion 31 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#32WIDESPREAD PRESENCE IS KEY Distribution strength creates depositor relationships Strong national footprint (branches) Reinvesting profits to continuously enhance distribution 32 HDFC Bank Presentation, May 2023 HDFC BANK Total Banking Geography Branches CSC BCS Other BCs outlets Rural 1,416 11,186 229 12,831 Semi-urban 2,674 2,941 166 5,781 Urban 1,568 934 12 2,514 Metro 2,163 452 1 2,616 Total 7,821 15,513 408 23,742 CSC: Customer Service Centers | BCS: Business Correspondents 1.7x branches since FY'17; 1.5K branches added in FY'23 Providing banking solutions in more than 3,800 cities/towns with 7K+ branches and around 16K banking outlets#33STRONG DEPOSIT FRANCHISE Branch expansion coupled with improved productivity Acceleration in investments: 2.6x branches in the last decade Branch network aids growth of deposits HDFC BANK Improved branch metrics even with accelerated branch addition Branches (#) 1.6x 1.6x 3,062 4,787 7,821 Incremental deposits per year (Rs. bn) 2.9x 1,451 495 2.2x 3,242 Deposit per branch (Rs. mn) 1,660 1,057 2,660 Mar'13 Mar'18 Mar'23 Mar'13 Mar'18 Mar'23 Mar'13 Mar'18 Mar'23 33 HDFC Bank Presentation, May 2023 52% branches in SURU locations Retail deposits comprise 83% of total deposits SURU: Semi Urban and Rural#34POTENTIAL OF BRANCH NETWORK HDFC BANK Leveraging the power of branches banking - well poised for sourcing deposits Branch deposits compound with time >60% branches less than 10 years old – at an inflection point - 34 >25x Branches (#) 3,081 1x 3x 10x 1,689 2,287 hi. Less than 5 years 5-10 Years - 10 15 Years 15+ years Less than 5 years 5 - 10 Years 10-15 Years 764 15+ years HDFC Bank Presentation, May 2023#35BANKING LIFECYCLE Value accretion 35 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#36LARGE CUSTOMER BASE Strong customer acquisition - hybrid model Branch acquisition Traditional Sales force Asset First Emerging 36 HDFC Bank Presentation, May 2023 DSA Corporate Salary Ecosystems VRM Digital DSA Partnerships Digital Marketing Payment product HDFC BANK Customer acquisition Traditional acquisition channels ⚫ branch and salary relationship continuing to . • grow and acquire new relationship Supplemented by asset and payments. product where liability is offered Emerging tech enabled channels • Digital marketing - with potential to grow. Partnerships . VRM New liability relationships added Potential • #mn 9 11 6 7 4 3 2018 2019 2020 2021 2022 2023#37DRIVING GROWTH THROUGH CUSTOMER RELATIONSHIPS Customer profile suited for future growth 37 Customers (#mn) 1.9x 25 25 1.7x 44 Customer base - the strength from within HDFC BANK Acquiring customers - future potential 83 Nurturing customers across the years ~3x 'new to bank' (NTB) customers added in FY23 as compared to 5 years ago >60% of the customers in the age bracket of < 40 years Over 55% customers with >3-year vintage with us ~3 products held by customers with vintage >= 3 years Mar'13 Mar'18 Mar'23 No. of 3,062 4,787 7,821 branches Partnering customer through their life cycle leading to better penetration and wallet share HDFC Bank Presentation, May 2023#38STRONG DEPOSIT FRANCHISE Formidable deposit franchise - foundational pillar Growth in deposits enabled by growing customer base Granular deposits HDFC BANK Healthy growth in customer transaction balance Deposits (Rs. bn) 2.4x No. of customers 38 2,962 2.7x 7,888 18,834 Retail deposits (%) 83% 75% 74% Savings balance per customer 2019 2020 2021 2022 2023 Mar'13 Mar'18 Mar'23 Mar'13 Mar'18 Mar'23 25 mn 44 mn 83 mn X 2.1x HDFC Bank Presentation, May 2023 ~10% market share in deposits – March 2023 -#39UNDER-PENETRATED BASE Penetration into existing base - gives a fillip for growth Large under penetrated retail base 21% 14% 5% 2% 4% Credit cards Personal loans and Vehicle Loans Consumer Durables Mortgage Loans Insurance 39 HDFC Bank Presentation, May 2023 HDFC BANK Overlapping opportunities across products/ businesses#40HDFC BANK POWER OF THE GROUP Group customer experience, avenue to deepen relationship Group companies provide avenue for future growth HDFC WITH YOU, RIGHT THROUGH GHDFC Customers 5 mn Customers MUTUAL FUND 7 mn 40 HDFC Bank Presentation, May 2023 HDFC BANK Customers : 83 mn Adding ~1 mn per month # Mn 9 11 6 7 4 3 2018 2019 2020 2021 2022 New liability relationships added 2023 Customers 6 mn ■ Life HDFC Customers 15 mn HDFC ERGO#41LEVERAGING THE FOUNDATION FOR GROWTH HDFC BANK Potential exists to build on foundation for sustainable growth Significant headroom for growth Significant number of branches that can help tap a large opportunity - including SURU ✓ High cross sell potential - ~60% branches less than 10-year vintage Positioned at the center of plate - in key growth engines of the country; MSME, Emerging Corporates, SURU, Salaried, etc. Drivers of execution going forward Customer acquisition through simplified journeys, digital personalized campaigns through omni channel presence; and group companies pursuant to the merger Smooth delivery of products and services through AI/ML driven Next Best Action engine and pre-qualification/approval Life cycle management of customer through superior relationship management - e.g. use of AI/ML to personalize and curate narratives Ecosystem banking through initiatives such as Vypaar and critical partnerships 41 HDFC Bank Presentation, May 2023#42BANKING LIFECYCLE Value accretion 42 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#43RELATIONSHIP BUILDING Products and segments are deeply intertwined Retail products (illustratively) Loan book outstanding Deposits balances held by customers HDFC BANK Auto loans Personal loans Payments 117K cr 172K cr 86K cr 0.8x 0.2x Particulars Loan book outstanding CRB CBG 629K cr 410K cr Deposits balances held by ecosystem customers 1.0x 0.8x Tapping the right product/segment will ensure greater deposit mobilization 43 HDFC Bank Presentation, May 2023 5.8x Overlapping opportunities across products/ businesses#44SIGNIFICANT OPPORTUNITIES FOR THE BANK Mortgage loans impact - creates space for other products Extends runway for unsecured lending in retail book Mix of personal loans and payment products (%) Proforma total unsecured loan book Mix of unsecured loans in total loan book (%) 25% 34% 41% 23% 30% 22% HDFC BANK 2013 2018 2023 2023 proforma 2023 Total unsecured mix 2023 Proforma unsecured mix 44 HDFC Bank Presentation, May 2023#45SIGNIFICANT OPPORTUNITIES FOR THE BANK Balance sheet complementary tenor opportunity Long tenor mortgage makes the customer sticky Enables enhanced products cross sell Tenor by product Credit Card 30 Days Personal Loan ~2 Years 2W Loan ~1 Year Auto ~4 Years Opportunity to cross sell unsecured, lower tenor, profitable credit during the repayment lifecycle Loan Home ~20 Years (1) Loan Term Long tenor product on the liability side Deposit Savings Deposit Asset Tenor Liability Tenor Perpetual HDFC BANK Better visibility of customer enhances risk assessment framework, aiding further cross sell opportunities 45 HDFC Bank Presentation, May 2023 (1)Maximum tenor#46BANKING LIFECYCLE Value accretion 46 HDFC Bank Presentation, May 2023 Consistent performance Relationship building Brand Value Distribution Customers HDFC BANK#47HDFC BANK EXECUTION CAPABILITY Best in class people productivity People- - core to effective customer service and relationship management; driving business and revenue Employees (# in 000's) 88 69 173 Business* per employee (Rs. mn) 75 151 197 Profit per employee (Rs. mn) 2.8 1.0 2.0 2013 2018 2023 2013 2018 2023 Mar'13 Mar'18 Mar'23 *Business represents total of quarterly average of net advances and deposits (net of inter-bank deposits) 47 HDFC Bank Presentation, May 2023#48RELATIONSHIP ENGAGEMENT - KEY DRIVER Customer productivity HDFC BANK Continuously tap all customer needs through innovative financial product offerings to maximize life-time value Customer (# in mn) 25 44 Customer per average employee (#) Profit per Customer (Rs.) 83 506 526 374 5,327 4,006 2,665 Mar'13 Mar'18 Mar'23 2013 2018 2023 2013 2018 2023 48 HDFC Bank Presentation, May 2023#49BUSINESS GROWTH Long term consistent growth Rs. bn Advances HDFC BANK 21% 16,142 13,805 11,433 10,027 8,273 4,676 5,586 6,643 2,413 3,050 3,679 Rs. bn FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Deposits 18,834 20% 15,592 13,351 11,475 9,231 7,888 2,962 3,673 4,508 5,464 6,436 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 10Y CAGR 49 HDFC Bank Presentation, May 2023#50BUSINESS MIX Product mix impacts NIM; RoA remains consistent Loan mix Covid19 Pandemic HDFC BANK 57% 57% 54% 56% 54% 52% 53% 53% 52% 53% 50% 50% 48% 43% 46% 47% 47% 48% 47% 43% 46% 44% FY13 Retail/Wholesale mix as per Basel classification FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Retail (%) Wholesale (%) NIM and RoA 4.5% 4.4% 4.4% 4.3% 4.3% 4.3% 4.3% 4.3% 4.2% 4.1% 4.1% 1.9% 2.0% 2.0% 1.9% 1.9% 1.9% 1.9% 2.0% 2.0% 2.0% 2.1% FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 RoA % -NIM % 50 HDFC Bank Presentation, May 2023#51QUALITY IN GROWTH Low and stable GNPAs across credit cycles 9 5 4 3 2 1 2,413 Cross cycle experience with stable asset quality (GNPA%) Gross advances 6,643 GNPA % HDFC BANK Rs. bn 18,000 16,142 16,000 14,000 12,000 10,000 8,000 6,000 4,000 1.1 2,000 1.0 0 Mar'13 Mar'14 Mar'15 Mar'16 Mar'17 Mar'18 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Low and stable GNPA coupled with consistent strong growth in advances across economic cycles 51 HDFC Bank Presentation, May 2023#52ASSET QUALITY Credit costs 52 6.0 5.0 4.0 3.0 2.0 HDFC BANK 1.0 0.7 0.7 0.0 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 HDFC Bank Presentation, May 2023 Credit costs stable over long term#53EFFICIENCY IN PROFITABILITY HDFC BANK Low cost to income ratio driven by digitisation and efficiency % 70 9000 7,821 65 8000 60 7000 55 49.6 6000 50 45.6 4,787 44.6 44.3 43.4 5000 45 41.0 39.7 40.4 38.6 4000 40 3,062 36.3 36.9 3000 35 2000 30 1000 173 225 20 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 ■Total Branches Cost to Income % # of employees, '000s 53 69 69 HDFC Bank Presentation, May 2023 16 76 84 98 120 Investment in people process distribution provides scale#54PROFITABILITY Consistent performance across cycles Profit after tax Rs. bn 21% HDFC BANK 441 370 311 263 67 85 102 123 145 175 211 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Earnings per share Rs. FY23 Consolidated EPS: Rs. 83 Rs. 79 67 19% 57 48 39 34 14 18 21 24 29 Book value per share 502 FY23 Consolidated BPS: Rs. 519 433 21% 370 312 274 205 175 125 144 77 91 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY13 FY14 FY15 54 HDFC Bank Presentation, May 2023 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 10Y CAGR#55STRONG FRANCHISE Balance sheet and capital productivity Consistent growth in assets and RoA Rs. bn 25,000 1.9 2.0 2.0 1.9 20,000 15,000 10,000 5,000 1.9 1.9 1.9 HDFC BANK 2.0 2.0 2.0 2.1 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Assets ROA % Capital positioned for growth with consistent RoE 25.0 20.1 20.9 20.4 20.0 18.0 18.0 18.2 16.3 16.8 16.6 16.9 17.4 15.0 10.0 5.0 0.0 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 ICET1% •ROE % 55 HDFC Bank Presentation, May 2023 FY13 Tier 1 capital as per Basel II FY14 onwards CET1 capital as per Basel III#56EXECUTING ON IDENTIFIED AREAS OF GROWTH 10 Pillars of Growth HDFC BANK ◉HDFC BANK Customer acquisition Delivery of product and services Relationship management Capturing flows of Government and Digital Marketing Retail Assets Institutional (G&I) Expanding Wealth Management HDFC Bank edge for Corporate Cluster Heartland Commercial and Rural Customer Service and Experience 56 HDFC Bank Presentation, May 2023 Strengthening Compliance & Leadership in the Payments Business مهم Technology and Digital Re-Imagining the branch channel Virtual Relationship Management (VRM) Effective Risk Management Zero Paper, Zero Touch Operations Culture People Learning and Development#57IN SUMMARY Execution is paramount Macro opportunities are enormous Customer centricity through Relationship Management • Environment is conducive విశ్రాం Driving Transformation Technology enablers HDFC BANK Future ready pillars are executing Pillars anchor relationship management Granular deposits - led by retail over 80% share Partnerships opens up new channels to customer relationship Experiments in innovation lab to expand segments • continued focus on risk management Culture and work environment Deposit mobilization across businesses Self funding ratios to inch-up 57 HDFC Bank Presentation, May 2023 Ecosystem banking to strengthen relationship offering Organic PSL across businesses Technology and digital launches UNLOCKING SYNERGIES FROM MERGER OF HDFC LTD. WITH HDFC BANK Penetration in customer base#58HDFC BANK 58 HDFC Bank Presentation, May 2023 Subsidiary performance HDFC BANK#59SUBSIDARY HDB Financial Services: financing the underbanked RBI-licensed NBFC focussed on underbanked customers in under- served markets - capitalising on opportunities beyond the Bank's appetite Offerings directed at the financing needs of "Bharat" Enterprise Finance Asset Finance HDFC BANK Key Metrics FY22 FY23 YOY AUM (Rs. bn) 614 701 +14% Net Revenue (Rs. bn) PAT (Rs. bn) 80 89 +11% 10 20 +94% No. of customers (mn) 9.1 11.9 +31% Consumer Finance ROE 11.2% 18.7% +750 bps ROA 1.6% 3.1% +150 bps Tractor Loans ■ Unsecured Business Loan ■ Loans against Lease Rentals ■Loans Against Property ■ Working Capital Loans ■ Construction Equipment Loans Digital Loans Consumer Durable Loans ■ Microfinance ■ Personal Loans ■ Commercial Vehicle Loans ■ Gold Loans ▪ Auto Loans EPS (Rs.) BV (Rs.) 13 25 +93% 121 145 +20% Fee-based Products ■ General Insurance ■ Health Insurance ■ Life Insurance ■ Home Assure Also provides collections services and back-office support to the Bank ■ ■ Key Strengths Strong Distribution Model: pan-India, regionally diversified reach ✓ 1,492 branches across 1,054 cities: over 80% outside of top-20 centres Focus on underbanked customers: ~15% of the Loan book as of March'23 consist of customers new-to-credit Deep understanding of customer behaviour: experienced multiple loan cycles across products through 15-year vintage ■ Granular balance sheet: 20 largest borrowers constitute 0.5% of loan book 59 HDFC Bank Presentation, May 2023 HDB 2EBAICE 2 ЕТИМИСІѴГ#60SUBSIDARY HDFC Securities Limited: digitally-led retail equity broking A market-leading, research-driven retail broking house HDFC BANK Key Metrics FY22 FY23 YOY Total Customers (mn) 3.8 4.4 +16% 20+ Vintage of over two decades ÅÅÅ 4.4 million customers Customers Added (mn) 1.2 0.6 -50% 209 Branches across 147 cities Among top-5 brokers by revenue and top-10 by active customers Digital Transactions IPO Applications (mn) 91% 92% +1 ppt 16.6 6.1 -63% Brokerage Income (Rs. cr) 1,155 808 -30% 94% Retail clients traded digitally >50% broking revenue from mobile PAT (Rs. cr) ROE 984 777 -21% 59% 43% -1600 bps EPS (Rs.) 623 490 -21% Complete suite of digital and assisted offerings to meet needs of all generations of investors ◉ ■ Seamless trading experience across multiple channels Distinctive research ideas enabling customers to profit from investment and trading Global investing, SIPs and stock baskets Dedicated relationship managers, customer service desks, Call-N-Trade facility Continuous investment in technology to ensure best-in-class customer experience and ability to transact large volumes Contributing to the franchise Strengthening customer value proposition - fulfilling multiple financial needs ■ Leveraging the Bank's presence to operate a highly cost- efficient business ■ Attractive financial outcomes: high ROE and free cash-flow generation Separate platform & brand HDFC SKY discount broking being launched in Q1 FY24 60 HDFC Bank Presentation, May 2023 HDFC securities 20#6161 HDFC Bank Presentation, May 2023 END OF PRESENTATION HDFC BANK