Top Indian banks have reported margin pressure in Q1FY27. However, analysts continue to be positive on the sector as strong loan growth continues. Among the four lenders, ICICI Bank stood out compared to HDFC Bank, Axis Bank and Kotak Mahindra with resilient margins and strong earnings according to JM Financial JM Financial expects all four banks to maintain healthy double-digit loan growth over the next two to three years, supported by steady credit demand and improving operating conditions.