Private lender HDFC Bank, said on Wednesday, August 19, that the Reserve Bank of India (RBI) has granted approval to Life Insurance Corporation of India (LIC) to acquire an aggregate stake of up to 9.99% in the bank’s paid-up share capital or voting rights.
LIC held a 4.11% stake in HDFC Bank’s total share capital as of the latest available beneficial position on August 14, 2026. The RBI gave its approval through a letter dated August 19 following an application submitted by LIC.
“We would like to inform you that the Reserve Bank of India (“RBI”) vide its letter dated August 19, 2026, has accorded its approval to Life Insurance Corporation of India (“LIC”), for acquiring aggregate holding up to 9.99% of the paid-up share capital or voting rights in HDFC Bank Limited (“the Bank”). As per the latest available beneficial position i.e. as on August 14, 2026, LIC holds 4.11% of the total share capital of the Bank,” the bank said in the filing.
The approval remains subject to certain conditions, including adherence to the Banking Regulation Act, 1949; the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Directions, 2025; the Foreign Exchange Management Act, 1999; SEBI regulations; and other applicable laws, regulations and guidelines.
HDFC Q1 results 2026
HDFC Bank reported a standalone net profit of ₹19,059.72 crore for the April-June quarter of FY27, marking a 4.98% increase from the corresponding period last year. Its net interest income (NII) rose 6.7 percent year-on-year (YoY) to ₹33,535.95 crore, falling short of the poll estimate of ₹34,353 crore.
The bank’s net interest margin (NIM) stood at 3.26% on total assets and 3.40% on interest-earning assets during the quarter.
The country’s largest private sector lender recorded a 10.8 percent YoY growth in average deposits, which reached ₹30,386 billion. Advances increased 13.3 percent from a year earlier to ₹30,115 billion.
In terms of asset quality, HDFC Bank’s gross non-performing assets (GNPAs) rose slightly to 1.17% of gross advances as of June 30, 2026, compared with 1.15 percent as of March 31, 2026.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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