Private Bank Stocks After Q3 FY26: HDFC Bank, ICICI Bank, Yes Bank or RBL Bank — Where Should Investors Look?

With hopes high for a consumer-friendly Union Budget 2026, India’s private sector banks have started performing well in Q3 FY26 earnings. Large players such as HDFC Bank and ICICI Bank have shown positive results, and turnaround banks such as Yes Bank and RBL Bank have stunned analysts with their profitability and stability.

For investors, the big question is: Which banking stock will deliver the best results after Q3?

Q3 FY26 Snapshot: How Did the Banks Perform?

HDFC Bank: Consistency Backed by Strong Balance Sheet

HDFC Bank delivered a strong Q3 performance, backed by sustainable revenue and improved profitability.

• Net revenue: ₹45,870 crore ( 8.9% YoY)
• Profit after tax: Up 11.5% YoY
• Capital adequacy ratio: 19.9%
• Tier-1 CAR: 17.8%
• Gross NPA: 1.24%
• Net NPA: 0.42%

As stated, HDFC Bank’s asset quality is good, and its capital buffers are one of the strongest in the industry, according to Seema Srivastava, Senior Research Analyst, SMC Global Securities.

ICICI Bank: Steady Growth with Strong Deposit Momentum

ICICI reported stable earnings performance, driven by consistent credit and deposit growth in the retail sector.

• Q3 PAT ( Profit after tax): ₹11,318 crore
• Deposit growth: 9.2% YoY to ₹16.59 lakh crore
• Capital adequacy ratio: 17.34%
• CET-1 ratio: 16.46%

According to some analysts, ICICI Bank remains well-positioned for investors seeking predictable earnings growth, supported by robust capital strength and stable asset quality.

Yes Bank: Profit Surge Signals Turnaround Progress

Yes Bank stood out in Q3 FY26 with a sharp jump in profitability, reflecting ongoing improvement in its operating engine.

• PAT: ₹952 crore ( 55.4% YoY)
• Return on Assets (RoA): Improved to 0.9%

The main focus of banks is probably on secured retail lending and commercial banking, which are driving strong fundamentals, while asset quality trends continue to improve.

RBL Bank: Stability Returns with Operating Profit Growth

RBL Bank delivered a stable quarter, marked by steady profitability and improving operating metrics.

• Net profit: ₹214 crore
• Operating profit: ₹912 crore ( 7% YoY)

Like Yes Bank, RBL Bank is also prioritising secured retail and commercial segments, which is gradually improving earnings visibility and asset quality.

Expert Take: Which Bank Looks Best for Investors?

Speaking on the performance comparison, Seema Srivastava of SMC Global Securities stated that:

“HDFC Bank & ICICI Bank remain strong long-term investment opportunities, with a proven track record of growth, strong capitalisation, and a healthy asset quality. The improvements in profitability & asset quality at Yes Bank make it an attractive turnaround story, while RBL Bank’s stability & focus on secured lending are encouraging.”

Technical View: Which Stock Looks Strongest on Charts?

From a technical perspective, ICICI Bank seems to be at the forefront.

Anshul Jain, Head of Research with Lakshmishree, said:

• ICICI Bank has been relatively stronger despite the corrections in the Nifty and Bank Nifty.
• Institutional Demand for Stocks Remains Strong
• The stock is making a clean cup-and-handle pattern on the daily chart.
• Volumes are still favourable to the bullish configuration

Key levels to watch:

• Breakout trigger: Above ₹1,430
• Potential upside: ₹1,520–1,550
• Risk control: As long as the handle low holds, risk–reward remains favourable