A leader slips: how HDFC Bank went from giving a market-beating outlook to facing a ‘blind spot’


A safety guard outdoors a HDFC Bank department in Mumbai.

Synopsis

HDFC Bank, as soon as reckoned the grasp of the retail phase, is facing hassle from it. The lender foresees potential asset-quality misery and tepid development. On May 24, new boss Sashidhar Jagdishan stated that for the primary time, the financial institution is probably not having “a grip on what’s going to happen”. Is the ache transient or a trigger for fear?

April 17, 2021, to May 24, 2021 — in simply 37 days, it appears a world of change has occurred at HDFC Bank. Analysts and buyers are puzzled. On May 24, HDFC Bank’s newly appointed managing director and chief government officer Sashidhar Jagdishan instructed buyers, “For the first time in so many years, we probably may not have a grip on what’s going to happen. There is a bit of blind spot on how it’s going to pan out.” In distinction, on April 17, the

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