HDFC Bank, the largest private sector bank in India, is set to release its financial results for the second quarter of fiscal year 2025-26 today. According to leading brokerage firms, such as Nomura, Emkay, Axis Securities, and ICICI Securities, the bank’s profit growth is expected to be moderate to good on a Year-on-Year basis.
HDFC Bank’s Net Interest Income is expected to increase from 3 per cent to 6 per cent YoY in Q2. However, the bank’s net interest margins are expected to contract on both yearly and quarterly basis.
Here are the key expectations of the major stock brokerage firms on HDFC Bank’s profit and Net Interest Income, and Net Interest Margins
HDFC Bank Q2 profit expectation
Emkay expects the highest PAT growth for HDFC Bank. The firm says that HDFC is likely to post a PAT of Rs 18,328 crore, increasing 9 per cent YoY and 1 per cent QoQ.
Nomura expects HDFC to post a PAT of Rs 17,540 crore, growing 4 per cent YoY and declining 3 per cent QoQ. ICICI Securities expects 2.2 per cent YoY PAT growth, while Axix Securities expects just 0.5 per cent YoY growth. Both the firm expects HDFC’s PAT to decline on a quarterly basis.
Yes Securities says that HDFC Bank’s PAT in Q2 will decline 0.3 per cent YoY and 7.6 per cent on QoQ to Rs 16,770 crore.
HDFC Bank Q2 NII expectations
The majority of brokerage reports expect HDFC’s Net Interest Income to grow by 3-6 per cent on a yearly basis and 0.5-1 per cent on a quarterly basis.
Nomura expects HDFC’s NII to grow 6 per cent YoY to Rs 31,880 crore. The firm says that the bank’s NII is likely to grow 1 per cent QoQ. Axis Securities and YES Securities expect HDFC Bank’s NII to grow 3.1 per cent YoY and 5 per cent YoY, respectively.
HDFC Bank Q2 margins expectations
HDFC Bank’s Net Interest Margin is expected to decline by 21 to 25 basis points on a yearly basis. However, the bank’s margin decline is expected to remain lower on a quarterly basis.
Nomura expects HDFC’s NIM to decline by 21 basis points YoY and 10 basis points on QoQ. The firm says that HDFC’s NIM will be at 3.3 per cent in the quarter.
ICICI Securities and Emkay expect HDFC’s NIM to remain at 3.7 per cent and 3.4 per cent, respectively.
