Two of the country’s largest private banks declared their Q2 numbers recently. HDFC Bank finally closed the growth gap with its peers in Q2 FY26. According to the bank’s financial presentation, total advances i.e., all the loans the bank has given to retail, corporate, and small business customers rose 4.5% sequentially and 10.1% year-on-year. ICICI Bank, meanwhile, delivered 10.3% YoY and 3.2% QoQ loan growth. Which is a better now as we step into the second half of FY26?

Here is a blow-by-blow comparison of the Q2 performance of the two banks and what’s expected ahead-

HDFC Bank Vs ICICI Bank: Margins under pressure?

Net interest margin, the spread a bank earns on loans after paying for deposits is the clearest window into profitability. HDFC Bank ’s NIM slipped 8 basis points seq

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