ICICI or HDFC: Who Leads in FY25?

A comparison of FY25 results of India's largest private sector lenders by total assets shows ICICI Bank maintains its lead over the top player, HDFC Bank, in some key parameters.

- Manish Joshi

Both declared results on 19 April.

ICICI Bank's FY25 net interest margin (NIM) was 4.3% versus 3.5% of HDFC Bank, which is struggling to regain its mojo to reach the 4.1% NIM achieved in FY23 just before it merged with HDFC. Even when it comes to return on average assets (ROAA), ICICI Bank is ahead at 2.4% for FY25 versus 1.9% ROAA of HDFC Bank.

In terms of balance sheet size, ICICI Bank's total assets rose 13% in FY25 vis-à-vis 8% for HDFC Bank. HDFC Bank grew its advances at just about half the rate of growth in deposits, while ICICI Bank showed almost equal growth in both advances and deposits at 14% for FY25.