en_tn_condensed/psa/020/005.md

we will rejoice in your victory

Here "we" refers to the people. They will rejoice in the king's victory. (See: rc://en/ta/man/translate/figs-exclusive)

in the name of our God

Here "name" represents honor or reputation. Alternate translation: "in honor of our God" or "for the reputation of our God" (See: rc://en/ta/man/translate/figs-metonymy)

we will raise banners

"we will raise victory flags." They would do this to show that they were praising God because he gave their king victory over his enemies. (See: rc://en/ta/man/translate/translate-symaction)

grant all your petitions

"give you everything you request from him"