The September quarter (2Q) of financial year 2026 (FY26) saw India’s top private lenders delivering a steady performance despite a narrowing net interest margin (NIM) environment.

Based purely on Q2 numbers, ICICI Bank once again topped the chart, maintaining its lead on profitability and asset quality metrics, while HDFC Bank’s momentum on loan growth signalled normalisation post-merger integration.

Kotak Mahindra Bank continued to expand robustly, Axis Bank posted an operational surprise, and IndusInd Bank remained under pressure due to elevated provisioning.

HDFC ICICI Axis Kotak IndusInd Loan Book 27,46,359 14,08,456 11,16,703 4,62,688 3,25,881 Growth YoY 9.90% 10.30% 11.70% 15.80% -8.80% Growth QoQ 4.40% 3.20% 5.40% 4.00% -2.

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