Bank Q2 results: ICICI, Axis profits surge; HDFC Bank posts steady growth
What Happened
ICICI Bank: Standalone net profit jumped 20.1% YoY to ₹14,843 crore, while NII rose 17.7% to ₹25,339 crore. Gross NPA improved sequentially to 1.20%, although NIM eased to 4.18%. Axis Bank: Consolidated net profit surged 39.4% YoY to ₹7,704.67 crore; standalone profit rose 37.6% to ₹7,003.28 crore. HDFC Bank: Standalone profit increased about 5% to ₹19,510 crore, while NII grew 9.7% to ₹34,620 crore. Gross NPA improved to 1.11% from 1.17% sequentially.
Key Takeaways
The early Q2 picture is largely positive for major private banks, with Axis Bank and ICICI Bank delivering strong profit growth and asset quality improving at several lenders. HDFC Bank posted more moderate earnings growth, while IDBI Bank’s headline profit decline was affected by last year’s exceptional gain.