ICICI Bank vs HDFC Bank: A Financial Performance Comparison for Q1 FY 2025

HDFC Bank and ICICI Bank are titans in India’s banking sector, holding the top two positions in terms of market capitalisation. As of August 13, 2024, HDFC Bank leads with a market cap of ₹12,26,416.43 crore, while ICICI Bank follows with ₹8,27,982.53 crore.

This article compares their financial performance for the quarter ending June 30, 2024, highlighting key metrics and insights into their respective growth trajectories.

Q1 FY 2025 Financial Highlights – HDFC Bank

HDFC Bank has reported a remarkable 106.5% increase in consolidated net revenue, reaching ₹724.2 billion compared to ₹350.7 billion in the same quarter last year. This surge reflects the bank’s strong operational performance and growth across various business segments.

The bank’s profit after tax (PAT) rose by 33.2% YoY to ₹164.7 billion. The net interest income (NII) also grew substantially by 26.4% YoY to ₹298.4 billion, indicative of the bank’s robust interest margin management.

Additionally, HDFC Bank’s total deposits surged by 24.4% YoY to ₹23,791 billion, highlighting its increased customer trust.

Q1 FY 2025 Financial Highlights – ICICI Bank

In Q1 FY 2025, ICICI Bank’s PAT increased by 14.6% YoY to ₹110.59 billion from ₹96.48 billion in Q1 FY 2024, suggesting a steady profitability.

The NII for ICICI Bank grew by 7.3% to ₹195.53 billion in Q1 FY 2025 from ₹182.27 billion in Q1 FY 2024, demonstrating positive, though more gradual, improvements in interest income.

Total deposits at ICICI Bank rose by 15.1% YoY to ₹14,261.50 billion from ₹12,387.37 billion during the same period of the previous financial year.

Stock Performance: ICICI Bank vs HDFC Bank

As of August 13, 2024, ICICI Bank’s share price opened at ₹1,183.20 and reached a day’s high of ₹1,189.25 by 11:43 AM on the NSE. Over the past year, ICICI Bank has delivered a return of 22.22%, with a 5-year compound annual growth rate (CAGR) of 22.79%. The stock touched its 52-week high at ₹1,257.80 on July 11, 2024, and its 52-week low at ₹899.00 on October 23, 2023.

In contrast, HDFC Bank’s share price opened at ₹1,628.00 and hit the day’s high of ₹1,632.40 by 12:04 PM on the NSE. HDFC Bank reported a 1-year return of 3.05% and a 5-year CAGR of 7.79%. The stock touched its 52-week high at ₹1,794.00 on July 3, 2024, and its 52-week low at ₹1,363.55 on February 14, 2024.

Conclusion

While HDFC Bank excels with high revenue and deposit growth alongside strong profitability, ICICI Bank exhibits steady financial performance with significant stock returns. Both banks have shown resilience and strength, yet their differing financial metrics and stock performance highlight their unique market positions and operational strategies.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.