AXISBANK

looks set for a cautious start to FY26

Brokers are penciling in around 2% year-on-year growth in both net interest income and profits—reflecting

's steady but unspectacular phase. Margin compression and elevated provisions are likely to cap operating leverage, while loan growth should clock 7.5-8.5% with deposits up 12%. Potential upside triggers include better-than-feared provision outlook, margin stability, or renewed confidence in the unsecured portfolio. Any of these could surprise investors positively. For now, it's a "steady as she goes" narrative with muted near-term volatility expected ahead of a potential mid-FY26 inflection. The bank is prioritizing stability over aggressive growth, which might be exactly what investors need to see right now.