ICICI Bank vs HDFC Bank: A Quick Comparison of Q2 FY26 Earnings

India’s two largest private sector banks, ICICI Bank and HDFC Bank, have both reported steady financial results for the quarter ended September 30, 2025 (Q2 FY26). While both banks showcased healthy growth in profits, credit expansion, and stable asset quality, subtle differences in their operating metrics reveal where each bank holds an edge.

ICICI Bank vs HDFC Bank (Q2 FY2026)

ICICI Bank: Key Highlights (Q2 FY26)

ICICI Bank continued to post resilient numbers in the September quarter, supported by robust domestic loan growth and steady asset quality improvements.

• Profit before tax (excluding treasury) rose 9.1% YoY to ₹16,164 crore (US$1.8 billion).
• Core operating profit increased 6.5% YoY to ₹17,078 crore (US$1.9 billion).
• Profit after tax climbed 5.2% YoY to ₹12,359 crore (US$1.4 billion).
• Average deposits grew 9.1% YoY to ₹15,57,449 crore (US$175.4 billion).
• CASA ratio averaged 39.2%, indicating a balanced deposit mix.
• Total deposits (period-end) stood at ₹16,12,825 crore, up 7.7% YoY.
• Domestic loan portfolio expanded 10.6% YoY to ₹13,75,260 crore.
• Gross NPA ratio declined to 1.58%, while Net NPA improved to 0.39%.
• Capital adequacy ratio (CAR) was a strong 17.0%, with a CET-1 ratio of 16.35%.
• Domestic advances grew 10.6% YoY and 3.3% sequentially.
• Retail loans grew 6.6% YoY, accounting for 52.1% of total loans.
• Average current account deposits rose 12.6% YoY, while savings deposits increased 8.5% YoY.

Also Read: ICICI Bank Q2 FY26 Earnings Results: Net Profit Rises 5% to ₹12,359 Crore on Lower Provisions

HDFC Bank: Key Highlights (Q2 FY26)

HDFC Bank maintained its growth trajectory with double-digit revenue expansion and a robust deposit base. However, margins showed a marginal decline due to deposit repricing pressures.

• Net revenue increased 10.3% YoY to ₹459.0 billion.
• Net interest income (NII) rose 4.8% YoY to ₹315.5 billion.
• Net interest margin (NIM) stood at 3.27%, slightly down from 3.35% in the previous quarter.
• Total balance sheet size expanded 8.5% YoY to ₹40,030 billion.
• Average deposits surged 15.1% YoY to ₹27,105 billion.
• Average CASA deposits rose 8.5% YoY to ₹8,770 billion, maintaining a strong funding profile.
• Gross NPA ratio improved to 1.24%, while Net NPA stood at 0.42%.

Conclusion

Both ICICI Bank and HDFC Bank showcased resilience amid a dynamic macroeconomic environment. ICICI Bank’s performance was anchored in strong domestic credit growth and stable asset quality, while HDFC Bank leveraged its deep deposit franchise to post double-digit top-line growth.

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