HDFC Bank Limited (NYSE:HDB) Q2 2024 Earnings Conference Call October 16, 2023 8:30 AM ET
Company Participants
Srinivasan Vaidyanathan - Chief Financial Officer
Sashi Jagdishan - Managing Director and Chief Executive Officer
Conference Call Participants
Mahrukh Adajania - Nuvama
Kunal Shah - Citigroup
Parag Thakkar - Anvil Wealth
Atul Mehra - Motilal Oswal
Suresh Ganapathy - Macquarie
Rajiv Pathak - GeeCee Holdings
Saurabh Kumar - JPMorgan
Piran Engineer - CLSA
Manish Shukla - Axis Capital
Operator
Ladies and gentlemen, good evening and welcome to HDFC Bank Limited Q2 FY '24 Earnings Conference Call on the financial results presented by the management of HDFC Bank. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. [Operator Instructions] Please note that this conference is being recorded.
I now hand the conference over to Mr. Srinivasan Vaidyanathan, Chief Financial Officer, HDFC Bank. Thank you, and over to you, sir.
Srinivasan Vaidyanathan
Okay. Thank you, Nirav. Good evening, and a warm welcome to all the participants.
Our MD and CEO, Mr. Sashi Jagdishan has joined us today to provide an overview of the business before we get into the quarterly results. Sashi, over to you to get started, please.
Sashi Jagdishan
Thank you, Srinu. Thank you for allowing me to steal your talk time. I'll keep it as brief as possible. This being the first results post-merger, I thought of sharing my thoughts. It's such a pleasure to connect with you all after a very long time.
As you know, we just consummated one of the largest mergers in recent times with seamless integration of people, process and systems, and that too without any external help. This showcases the power of our execution.
The day one merged balance sheet was audited by the 31st of August and the team disclosed this to the world at large around mid-September. The presentation, which they did to the analyst, brought out some of the one-offs on account of the debt funded liquid assets to meet the liquidity coverage ratio, the LCR, as per banking norms. As you know sometimes the assumptions and cash flows that an NBFC does is going to be -- is different from that what a bank would do. And so therefore, there was some amount of build-up of liquidity to meet those liquidity coverage ratio norms and also provide an extra cushion to take care of contingencies.