India's HDFC Bank rises after CEO appointment

By Reuters News

Oct 5 (Reuters) - Shares of India's HDFC Bank HDBK.NS rose 1% to 728.3 rupees on Monday, as investors welcomed the appointment of Anup Bagchi, the first external candidate to lead the institution.

Bagchi succeeds Sashidhar Jagdishan, who decided in August not to seek reappointment after his second three-year term ends on October 26.

The bank also posted a growth of around 18.8% in its deposits and a growth of 16.3% in its gross advances as of September end.

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