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HSBC raises FY2027 loan growth forecast of India's banks; shares jump

By Reuters News

** India's financials .NIFTYFIN and private banks .NIFPVTBNK rise about 1.8% each on Tuesday, leading benchmark gains; Nifty 50 .NSEI up 1%

** The two highest-weighted stocks on benchmarks, HDFC Bank HDBK.NS and ICICI Bank ICBK.NS rise 3.2% and 2.9%, respectively

** Analysts at HSBC increase their FY2027 loan growth projection for Indian banks to 18% from 14% earlier, citing momentum and FCNR(B) impetus

** Global brokerage says upgrade is primarily driven by stronger-than-expected growth in corporate and MSME loans

** "Several earnings levers are in place for FY2028 and FY2029," say analysts led by Abhishek Murarka, citing potential 50 basis points of rate hike by end of FY2027 and favorable operating leverage as key positives

** Says valuations of India's large banks have become more compelling

** Financials and private banks up 8.3% and 4.3% YTD, compared to Nifty 50's .NSEI 9.3% drop in 2026 so far, according to exchange data

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