HDFC Bank vs ICICI Bank vs Yes Bank Q2 Results Preview: Which Big Bank To Perform Better In The Quarter?

Major banks like HDFC Bank, ICICI Bank and Yes Bank will declare their September 2026 quarterly earnings report on Saturday, October 17, 2026, when market is closed. Accordingly, these banks share prices will be in focus next week.

HDFC Bank Q2 Results Preview:

HDFC Bank is estimated to report 7.7% YoY growth and 1.4% QoQ growth in net interest income (NII) to Rs 33,987.8 crore, as per Kotak Institutional Equities analysts. PAT is expected to rise to 4.7% YoY and 2.4% QoQ to Rs 19,509.9 crore.

“The headline reported numbers on loan growth is marginally lower than the industry average (~16% yoy). CD ratio was stable on period-ending basis at ~95% (impact of FCNR deposits has been lower).
Deposits grew 19% yoy. We are building in NIM to remain stable or marginally decline this quarter,” said analysts at Kotak.

They further expect HDFC Bank’s gross NPL ratio to be stable with slippages at 1.2% of loans. Near-term focus would be the progress of NIM (NIM to improve slower-than-expected), impact of FCNR deposits and execution under the new management.

ICICI Bank Q2 Results Preview:

Unlike HDFC, ICICI Bank is expected perform under pressure sequentially. NII is estimated to be around Rs 24,487.6 crore, up by 13.7% YoY and 0.4% QOQ. Meanwhile, PAT may fall 6.7% QoQ but rise 11.8% YoY to Rs 13,819.8 crore.

As per the preview note, expect ~15% y-o-y PPoP growth, led by healthy revenue growth. Loan growth is likely to be at ~25% yoy (FCNR deposits boost). Kotak analysts are building NIM to decline ~15 bps qoq at 3.8% (KS Calc)-reported NIM would be higher than our estimates), mainly due to the impact of FCNR deposits raised in the quarter.

They also added, “We expect lower credit costs (0.4%) with no new surprises on provisions. We are building slippages of ~1.5% (~Rs58 bn). We do not expect any negative commentary on asset quality. Key discussion areas: NIM outlook and loan growth trajectory considering external environment.”

Yes Bank Q2 Results Preview:

Yes Bank is expected to report mixed earnings growth in Q2. NII is likely to come around Rs 2,836.6 crore, registering an upside of 23.3% YoY and 1.8% QoQ. While PAT may decline 13.5% QoQ but surge 41.6% YoY to Rs 926.5 crore.

The analysts expect 23% yoy NII growth with healthy loan growth (~25% yoy), partly due to leverage of the FCNR scheme. Deposit growth has accelerated to 20% yoy aided by FNCR deposits. We expect NIM at ~2.7% (10bps marginal decline qoq), partly due to the normal volatility in business (income booked on recovery/RIDF) and also led by FCNR deposits raised recently.

Further, they believe Yes Bank could see steady traction on recovery and upgrades this quarter from the retail portfolio. Building slippages of Rs 12 billion (1.7% of loans). Earnings impact is difficult to forecast, given the nature of provisioning policy. Focus is shifting toward rebuilding the business.

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