HDFC Bank and ICICI Bank, two of India's largest private lenders, are scheduled to announce their Q3FY26 (October-December 2025) financial results on Saturday, January 17, 2026. Market analysts anticipate a generally steady performance for both banks, primarily driven by robust loan growth. For HDFC Bank, brokerages project a Net Interest Income (NII) growth of 4.5-8% year-on-year, with Profit After Tax (PAT) growth estimated between 6-13% year-on-year. Loan book expansion is expected to be healthy, ranging from 11.8% to 13.2% year-on-year. However, HDFC Bank's Net Interest Margins (NIMs) are largely anticipated to decline year-on-year, while remaining relatively flat quarter-on-quarter, indicating sustained pressure. Investor attention will heavily concentrate on management commentary regarding deposit mobilization efforts and the bank's margin trajectory in the upcoming quarters. Some analysts suggest a muted profit growth despite stable margins. ICICI Bank is also set to report a steady quarter, with NII projected to grow by 6-8% year-on-year, supported by healthy expansion in its retail and SME loan segments. PAT growth for ICICI Bank is estimated to be in the range of 1-7.2% year-on-year. Crucially, ICICI Bank's NIMs are expected to remain stable at approximately 4.3%, with some forecasts even suggesting a slight sequential uptick. Key areas for investors to watch include asset quality, credit costs, and any commentary on digital lending and unsecured loan exposures. Overall, while loan growth remains a strong positive for both institutions, the narrative around margin recovery appears more nuanced, particularly for HDFC Bank.