HDFC Bank, ICICI Bank & Yes Bank Q4 FY26 Results: Private Banking Season Opens Strong
ICICI Bank and Yes Bank — profit up across the board, NPAs are at multi-year lows, and provisions are falling sharply.
Team Sahi
HDFC Bank, ICICI Bank & Yes Bank Q4 FY26 Results: India's private banking earnings season opened strongly over the weekend of April 18–19, 2026. HDFC Bank reported PAT of ₹19,221 crore (+9.1% YoY) with loans up 12% and deposits up 14.4%. ICICI Bank delivered PAT of ₹13,702 crore (+8.5% YoY) with NIM at 4.32% and GNPA at a record low 1.40%. Yes Bank posted its strongest quarter in years — PAT up 44.7% to ₹1,068 crore, NIM improved 20 bps to 2.7%, and GNPA fell to 1.3%, the lowest since FY20. Across all three, asset quality improved, provisions fell, and credit growth remained healthy — signalling resilience in India's private banking sector heading into FY27.
India's banking earnings season has opened on a solid note, with three major private sector lenders — HDFC Bank, ICICI Bank, and Yes Bank — reporting their March quarter (Q4 FY26) results over the weekend of April 18–19, 2026.
Across all three, the themes were consistent: steady loan growth, improving asset quality, controlled provisions, and higher profitability. While global market sentiment has remained cautious, these results indicate that core banking fundamentals in India continue to hold up well.
Weekend Results at a Glance
| Bank | Net Profit (Q4 FY26) | YoY Growth | NIM | GNPA | Dividend |
|---|---|---|---|---|---|
| HDFC Bank | ₹19,221 crore | +9.1% | 3.38% | 1.15% | ₹13/share (final) |
| ICICI Bank | ₹13,702 crore | +8.5% | 4.32% | 1.40% | ₹12/share |
| Yes Bank | ₹1,068 crore | +44.7% | 2.7% | 1.30% | — |
Source: BSE/NSE exchange filings, April 18, 2026
HDFC Bank Q4 FY26
India's largest private sector lender delivered a steady quarter, with balance sheet growth remaining healthy and asset quality continuing to improve. The results were approved at the board meeting on April 18, 2026.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Net Profit (PAT) | ₹19,221 crore | ₹17,616 crore | +9.1% |
| Net Interest Income (NII) | ₹33,081 crore | ₹32,006 crore | +3.2% |
| Operating Profit | ₹27,802 crore | ₹26,537 crore | +4.8% |
| Gross Advances | ₹29.60 lakh crore | ₹26.43 lakh crore | +12.0% |
| Total Deposits | ₹31.05 lakh crore | ₹27.15 lakh crore | +14.4% |
| Net Interest Margin (NIM) | 3.38% | — | +3 bps QoQ |
| GNPA Ratio | 1.15% | 1.33% | Improved |
| NNPA Ratio | 0.38% | — | — |
| Provisions | ₹2,609 crore | ₹3,193 crore | −18% |
| Capital Adequacy Ratio | 19.71% | — | — |
Source: HDFC Bank Q4 FY26 exchange filing and earnings presentation, BSE/NSE, April 18, 2026
One nuance worth noting: NII grew just 3.2% despite 12% loan growth — a sign that NIM compression has been an ongoing headwind for the bank. Deposit growth at 14.4%, outpacing loan growth at 12%, is structurally healthy and reduces reliance on expensive borrowings, but the cost of mobilising deposits has kept margins under pressure. The dividend of ₹13/share (final) takes the total FY26 payout to ₹15.50 per share, with a record date of June 19, 2026.
ICICI Bank Q4 FY26
ICICI Bank delivered another strong quarter, particularly on profitability and asset quality, with provisions collapsing to near-zero and GNPA reaching a multi-year low.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Net Profit (PAT) | ₹13,702 crore | ₹12,630 crore | +8.5% |
| Net Interest Income (NII) | ₹22,979 crore | ₹21,199 crore | +8.4% |
| Non-Interest Income (excl. treasury) | ₹7,415 crore | ₹7,022 crore | +5.6% |
| Total Advances | ₹15.54 lakh crore | ₹13.42 lakh crore | +15.8% |
| Total Deposits | ₹17.94 lakh crore | ₹16.10 lakh crore | +11.4% |
| Net Interest Margin (NIM) | 4.32% | — | — |
| Return on Assets (RoA) | 2.4% | — | — |
| GNPA Ratio | 1.40% | 1.67% | Improved |
| NNPA Ratio | 0.33% | 0.42% | Improved |
| Provisions | ₹96 crore | ₹891 crore | −89% |
Source: ICICI Bank Q4 FY26 exchange filing, BSE/NSE, April 18, 2026
The standout number in ICICI Bank's results was the near-zero provisions figure of ₹96 crore — down 89% from ₹891 crore a year ago. This reflects the sharp improvement in asset quality and the bank's strong contingency provision buffer of approximately ₹13,100 crore (1.5% of advances). With NIM at 4.32% — among the strongest in the private sector — and RoA at 2.4%, ICICI Bank continues to set the standard for profitability metrics in Indian banking. The board declared a dividend of ₹12 per share for FY26.
Yes Bank Q4 FY26
Yes Bank's results were arguably the most striking of the weekend—a 44.7% profit jump reflects how far the bank has come since its reconstruction in 2020. The quarter marked the lowest GNPA and NNPA levels since FY20, and the bank delivered an RoA of 1.0% — in line with management guidance.
| Metric | Q4 FY26 | Q4 FY25 | YoY Change |
|---|---|---|---|
| Net Profit (PAT) | ₹1,068.42 crore | ₹738.12 crore | +44.7% |
| Net Interest Income (NII) | ₹2,637.7 crore | ₹2,276.4 crore | +16% |
| Operating Profit (Pre-provision) | ₹1,618.24 crore | ₹1,314.5 crore | +23.1% |
| Net Interest Margin (NIM) | 2.7% | 2.5% | +20 bps YoY; +10 bps QoQ |
| GNPA Ratio | 1.3% | 1.6% | Improved (lowest since FY20) |
| NNPA Ratio | 0.2% | 0.3% | Improved |
| Provisions | ₹187.55 crore | ₹318.07 crore | −41% |
| CASA Ratio | 35.1% | 34.3% | +80 bps |
| CASA Deposits | Crossed ₹1 lakh crore | — | +14.9% YoY |
| Return on Assets (RoA) | 1.0% | — | In line with guidance |
Source: Yes Bank Q4 FY26 exchange filing, BSE/NSE, April 18, 2026
CASA deposits crossing ₹1 lakh crore is a significant milestone for Yes Bank, it directly reduces the cost of deposits and supports NIM improvement. The 20 bps YoY NIM expansion to 2.7% reflects this structural improvement. Importantly, a one-time proactive provision of ₹341 crore was made in Q4 for standard assets — the bank clarified this does not reflect any deterioration in credit quality.
Asset Quality Comparison
The continued decline in bad loan ratios across all three banks is one of the most important takeaways from this results season.
| Bank | GNPA Ratio (Q4 FY26) | GNPA Ratio (Q4 FY25) | NNPA Ratio (Q4 FY26) |
|---|---|---|---|
| HDFC Bank | 1.15% | 1.33% | 0.38% |
| ICICI Bank | 1.40% | 1.67% | 0.33% |
| Yes Bank | 1.30% | 1.60% | 0.20% |
Source: BSE/NSE exchange filings, April 18, 2026
What These Results Indicate
The Q4 FY26 numbers suggest India's leading private banks remain in a healthy operating phase. Credit growth is running in the 12–16% range, deposit mobilisation is steady, asset quality is improving across the board, and provisions are falling — a combination that supports profitability even in a relatively cautious macro environment.
(Share price as of 1:45, 20th April, 2026)
The market reaction on April 20 was mixed but broadly orderly: ICICI Bank was up 0.86%, HDFC Bank was down 0.16%, and Yes Bank was down 1.44% as of early afternoon — stock-specific sentiment rather than any broad concern over sector fundamentals.
(Share price as of 1:45, 20th April, 2026)
For the broader market, banking earnings often set the tone for corporate India because lenders sit at the center of economic activity. When banks report stronger balance sheets, cleaner books, and stable margins, it signals resilience in the wider economy.
What Comes Next
The spotlight now shifts to the remaining private lenders. IndusInd Bank reports on April 24, IDFC FIRST Bank on April 25, and Axis Bank on April 25. Each will add to the picture of credit growth trends, margin movement, and asset quality across the sector heading into FY27.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. All figures are sourced from BSE/NSE exchange filings dated April 18, 2026. Please consult a SEBI-registered advisor before making investment decisions.