Shares of HDFC Bank and ICICI Bank , India's top private lenders by market capitalisation, gained more than 2% on Monday, after quarterly results inspired confidence about their ability to maintain healthy loan growth.

Icici reported earnings of 40 cents a share for the June-ended quarter, for an increase of 11% year over year, according to FactSet. Revenue rose 11% to $3.498 billion. Strong loan growth resulted in higher core lending income for the bank,