# Nomura points to a robust loan growth across most banks and a visible spike in deposits.

*business · news · 2026-04-08 · The Financial Express*

## Key points

- Nomura warns that strong end-period deposit growth may not be sustainable across Indian banks.
- HDFC Bank's loan-to-deposit ratio declined to 95.3% due to a sharp sequential deposit pickup.
- Axis Bank's advances grew 18.4% year on year, outpacing industry trends and improving its funding mix.
- IndusInd Bank's loan book declined 8.7% year on year, but the pace of contraction is slowing.
- IDFC First Bank's loan growth was 20% year on year, but deposits remained flat due to headwinds.

**Companies:** HDFC Bank, Axis Bank, Kotak Mahindra Bank, IndusInd Bank, IDFC First Bank, Bank of Baroda
**Countries:** India

[Read the full story on The Financial Express](https://www.financialexpress.com/market/nomura-maintains-buy-on-hdfc-axis-4-other-bankssignals-sharp-growth-headwinds-ahead-4199785/)

---

Canonical: https://newsio.io/n/2c9ccf87-741f-49c8-94ac-4de9e39c33b3/nomura-points-to-a-robust-loan-growth-across-most-banks-and-a-visible-spike-in-d
Summarized by Newsio from The Financial Express. https://newsio.io/how-it-works