Two of India's top private banks, ICICI Bank and HDFC bank have published their Q4 results.

While ICICI, the biggest private sector lender saw its best quarterly profits in the last two years, HDFC also did fairly well.

HDFC Bank saw its profits rise by 32.6 per cent, which is much higher than the market estimates.

ICICI saw an increase because of rise in fees income and also reduction in its operational costs.

This is inline with the total growth of the banking sector. As per the data given by the Central bank, total bank credit in India went up by a rate of 17.05 per cent in early April. This is higher than 9.7 per cent in October and 16.7 per cent in March.

There has been a rise in the overall confidence level, which is good for the sector as a whole. Meanwhile, experts and analysts believe that the demand for loans is going to pick more heat in 2010-11. This may happen as the economy is expected to go up by 8 per cent during this fiscal year.