ICICI Bank, Axis Bank, Yes Bank and HDFC Bank report their September-quarter results on Saturday, 17 October 2026, according to BusinessToday and Upstox. BusinessToday’s preview gives estimates for each bank and says that HDFC Bank, ICICI Bank and Axis Bank together carry 42.85 per cent of the weight of the Nifty Bank index.
For ICICI Bank, the preview expects net profit of Rs 14,366 crore and net interest income (NII) of Rs 25,166 crore. The core net interest margin is estimated at 4.28 per cent and gross non-performing assets at 1.39 per cent. The brokerage target price is Rs 1,758, which implies an upside of 26 per cent from the current price, according to the preview.
For Axis Bank, the estimates are net profit of Rs 7,157 crore, NII of Rs 15,259 crore, core net interest margin of 3.4 per cent, gross NPAs of 1.3 per cent and a CASA ratio of 37.6 per cent. The target price is Rs 1,580, an upside of 22.9 per cent, according to the same preview.
For Yes Bank, the preview expects net profit of Rs 1,009 crore, NII of Rs 2,882 crore, core net interest margin of 2.75 per cent and gross NPAs of 1.21 per cent. Its target price is Rs 20.73, which is 16 per cent above the current price, according to the report.
The estimates allow a few comparisons. ICICI Bank’s net profit estimate is about twice that of Axis Bank, a ratio of 2.0 that IndiaX24 has calculated from Rs 14,366 crore and Rs 7,157 crore, and Axis Bank’s is about seven times Yes Bank’s. ICICI Bank’s expected margin of 4.28 per cent is the highest of the three, and Yes Bank’s 2.75 per cent the lowest.
The target prices are not forecasts of results but brokerage views, and they differ in how much upside they imply, from 16 per cent for Yes Bank to 26 per cent for ICICI Bank. The preview does not name the brokerages or the dates of their targets, so IndiaX24 treats them as indicative.
A simple way to read the estimates is by return on the loan book. ICICI Bank’s expected quarterly profit of Rs 14,366 crore and Axis Bank’s of Rs 7,157 crore together come to Rs 21,523 crore, which is IndiaX24’s sum and which is about 10 per cent more than HDFC Bank’s estimate of Rs 19,606 crore at the Bloomberg figure. The comparison is only illustrative because the banks differ in size and business mix.
Asset quality is the other measure. The expected gross NPA ratios are 1.39 per cent for ICICI Bank, 1.3 per cent for Axis Bank and 1.21 per cent for Yes Bank, according to the preview, so ICICI Bank has the highest ratio of the three, while the HDFC Bank estimate is 1.14 per cent. The reports reviewed do not give the net NPA figures or the provisions the banks are expected to make.
The sector backdrop matters. The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 per cent on 7 October, as IndiaX24 has reported, and the Sensex surged 2.11 per cent on 15 October with ICICI Bank the largest positive contributor to the Nifty 50, adding 79.71 points, according to a market report. The reports reviewed do not say how a higher repo rate is expected to affect the banks’ margins in this quarter, since the hike came after the quarter ended on 30 September.
HDFC Bank’s results, which are the most closely watched because of its change of chief executive, are covered in a separate IndiaX24 article.
IndiaX24 will report the actual numbers and compare them with these estimates.
Image: The ICICI Bank towers in Hyderabad (file photo). Photo by Curvasingh, licensed under CC BY-SA 4.0, via Wikimedia Commons.
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