Life Insurance Corporation of India is about to increase its stake in HDFC Bank soon. RBI (Reserve Bank of India) has approved LIC to acquire paid-up share capital of 9.99 percent in HDFC Bank. HDFC has shared these details with the stock exchanges. HDFC Bank stated that LIC has received permission from RBI and has increased its share from 4.11 percent to 10 percent.
LIC will acquire an additional 5.88 percent of the bank's shares, which means it will have to comply with many guidelines while increasing its stake, such as SEBI and FEMA regulations. The approval comes as HDFC Bank has released its first-quarter results for the financial year 2026-27. The net profit for the first quarter of HDFC Bank is Rs 19,059 crore, which has increased 4.98 percent compared to the past year.
The bank's net interest income increased to Rs 33,535.95 crore, and the net interest margin was 3.26%, depending on total assets. The loans and deposits of HDFC Bank have also increased. Deposits have increased to 10.8 percent, while the total loan book has increased to Rs 30.115 billion, but asset quality has reduced, and the gross NPAs have increased to 1.17 percent.
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