The private sector lender could report a profit after tax (PAT) in the wide range of Rs 765 crore to Rs 1,066 crore, implying 4% to 44% year-on-year growth, while sequential performance remains mixed across estimates.
Net interest income (NII) is seen in the range of Rs 2,478 crore to Rs 2,558 crore, translating into a 9-12% YoY growth, driven by steady credit growth.
Estimates from Nomura, ICICI Securities, Kotak Equities and JM Financial have been taken into account.
The lender will announce its earnings on Saturday, April 18, 2026.
The quarter is likely to be supported by stable operating performance, improving deposit traction and benign asset quality trends, though margins could remain range-bound.
Investors will closely watch NIM trajectory, deposit growth quality and asset quality trends, along with management commentary on growth outlook.
Here’s what estimates say on these key metrics:
1) PAT– Nomura estimates PAT at Rs 810 crore, up 9% YoY and down 15% QoQ.
– ICICI Securities expects PAT at Rs 1,066 crore, up 44% YoY and up 12% QoQ.
– Kotak Equities pegs PAT at Rs 765 crore, up 4% YoY and down 20% QoQ.
– JM Financial estimates PAT at Rs 947 crore, up 28% YoY and largely flat QoQ.
2) NII
– Nomura suggests NII at Rs 2,530 crore, up 11% YoY and 3% QoQ.
– ICICI Securities estimates NII at Rs 2,558 crore, up 12% YoY and 4% QoQ.
– Kotak Equities expects NII at Rs 2,478 crore, up 9% YoY and 1% QoQ.
– JM Financial pegs NII at Rs 2,499 crore, up 10% YoY and 1.4% QoQ.
3) Pre-Provision Operating Profit (PPoP)
– Nomura estimates PPoP at Rs 1,400 crore, up 6% YoY and 13% QoQ.
– ICICI Securities expects PPoP at Rs 1,440 crore, up 10% YoY and 17% QoQ.
– Kotak Equities sees PPoP at Rs 1,366 crore, up 4% YoY and 11% QoQ.
– JM Financial estimates PPoP at Rs 1,296 crore, down 1.4% YoY and up 5% QoQ.
4) Net Interest Margins (NIMs)
– Nomura expects NIMs at 2.7%, up 11 bps YoY but down 1 bp QoQ.
– ICICI Securities estimates NIMs at 2.65%, up 15 bps YoY and 5 bps QoQ.
– Kotak Equities pegs NIMs at 2.8%, flat YoY and down 10 bps QoQ.
– JM Financial sees NIMs at 2.7%, up 10 bps YoY and 1 bp QoQ.
– Street view suggests stable to marginally softer margins QoQ, with volatility from treasury income and funding costs.
Also read: ICICI Bank Q4 preview: PAT to grow up to 6% YoY, NII seen rising up to 8%. 8 things to watch
5) Loans & deposits
– Nomura estimates loans at Rs 2.72 lakh crore (11% YoY, 6% QoQ) and deposits at Rs 3.19 lakh crore (12% YoY, 9% QoQ).
– Kotak Equities sees advances at Rs 2.73 lakh crore (11% YoY, 6% QoQ) and deposits at Rs 3.19 lakh crore (12% YoY, 9% QoQ).
– JM Financial also pegs loans at Rs 2.72 lakh crore (11% YoY, 6% QoQ) and deposits at Rs 3.19 lakh crore (12% YoY, 9% QoQ).
– Brokerages note deposit growth has improved, partly aided by certificates of deposit, while loan growth remains steady.
6) Asset quality
– ICICI Securities estimates slippages at Rs 994 crore, down 19% YoY and 5.3% QoQ.
– Kotak Equities sees slippages at 1.6%, down 38 bps YoY and 6 bps QoQ.
– Nomura indicates provisions of largely stable YoY.
– Asset quality is expected to remain benign with controlled stress formation.
7) Credit cost
– Nomura estimates credit cost at 0.5%, down 5 bps YoY but up 46 bps QoQ.
– Kotak Equities pegs credit cost at 0.53%, flat YoY and up 49 bps QoQ.
– JM Financial sees credit cost at 0.1%, down 46 bps YoY with a marginal QoQ uptick.
8) Key monitorables
Investors should watch the NIM trajectory amid funding cost pressures and the sustainability of deposit growth. Loan growth outlook and management guidance will also be key monitorables.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
