Analysts have retained a positive outlook on both HDFC Bank and ICICI Bank following their Q4FY26 results. HDFC Bank's net profit increased by 9% year-on-year to ₹19,220 crore, supported by solid revenue growth and lower provisions. However, analysts at Antique Stock Broking noted that while deposit growth is strong, the bank needs to accelerate loan growth for a potential re-rating, adjusting their target price down to ₹1,055 from ₹1,100. In contrast, ICICI Bank reported a net profit of ₹13,700 crore, an 8% increase year-on-year, with a notable 15.8% growth in total loans. Analysts from JM Financial have revised their target price for ICICI Bank upwards to ₹1,630 from ₹1,550, citing its strong asset quality and loan growth as key factors for its premium valuation. Both banks showed improved asset quality, with ICICI Bank achieving a return on assets (RoA) of 2.4%. HDFC Bank is cautious about its loan growth outlook, focusing on maintaining a balanced loan-to-deposit ratio while still aiming to capture market share in deposits. Overall, both banks are positioned well for future growth, but analysts suggest that ICICI Bank currently has the edge due to its stronger loan performance.