BUZZ — PREVIEW — Indian private lenders on track for Q2 profit growth on foreign currency deposit boost

* Top Indian private lenders HDFC Bank, ICICI Bank, Axis Bank and Yes Bank are set to report Q2 results on Saturday * On Friday, ICBK up 0.4%, AXBK down 0.3%, HDBK flat, while YESB down 2.7% * Analysts expect banks to report higher profit on strong loan and deposit growth during the quarter, boosted by subsidised foreign currency non-resident (FCNR) deposits raised via an RBI scheme * However, analysts see the FCNR deposits putting short-term pressure on net interest margin * HDFC Bank expected to report a 4.75% y/y rise in profit, while ICICI Bank's profit is forecast to grow 15%, Axis Bank's 40% and Yes Bank's 46%- data compiled LSEG * While net interest income is expected to rise across all four lenders, Motilal Oswal expects net interest margins to contract quarter-on-quarter by 8 basis points at HDFC Bank, 20 bps at ICICI Bank and 12 bps at Axis Bank. * On Thursday, India's Supreme Court set aside the YESB's write-off of 84 billion rupees ($884.96 million)in additional tier-1 bonds during its 2020 rescue; YESB expects the move to reduce its core capital ratio by about 250 bps ($1 = 94.9200 Indian rupees) (Reporting by Nishit Navin in Bengaluru) ((nishit.navin@thomsonreuters.co