HDFC Bank vs ICICI Bank: share price, P/E, ROE and financials compared
HDFC Bank
ICICI Bank
HDFC Bank and ICICI Bank at a glance
HDFC Bank and ICICI Bank are both listed in Financial Services. HDFC Bank is the larger by market cap, at ₹12.2L Cr against ₹11.3L Cr for ICICI Bank. On valuation, HDFC Bank has the lower P/E (17.2× against 19.3×) and the lower price-to-book (2.00× against 2.89×). On returns and margins, ICICI Bank has the higher ROE (16.5% against 11.0%). Over three years, ICICI Bank has faster 3-year profit growth (+16.8% against +12.5% a year). Both are lenders or insurers, so ROCE, operating margin and debt-to-equity aren’t compared: those ratios don’t fit financial balance sheets.
Key metrics, side by side
| Metric | HDFC BankHDFCBANK | ICICI BankICICIBANK |
|---|---|---|
| Price (₹) | 788.25 | 1,571.20 |
| Market cap (₹ Cr) | 12,16,451 | 11,28,255 |
| P/E | 17.2× (the lower figure, shaded) | 19.3× |
| P/B | 2.00× (the lower figure, shaded) | 2.89× |
| Dividend yield, trailing | 1.65% (the higher figure, shaded) | 0.76% |
| ROE | 11.0% | 16.5% (the higher figure, shaded) |
| ROCE | n/m | n/m |
| Operating margin (OPM) | n/m | n/m |
| Net margin (NPM) | 26.5% | 27.8% (the higher figure, shaded) |
| Sales CAGR 3Y | n/m | n/m |
| Profit CAGR 3Y | +12.5% | +16.8% (the higher figure, shaded) |
| Debt to equity | n/m | n/m |
| Interest cover | n/m | n/m |
| Net profit TTM (₹ Cr) | – | 59,066 |
| 1Y return | −22.9% | +12.2% (the higher figure, shaded) |
| Promoter holding | 0.00% | 0.00% |
HDFC Bank vs ICICI Bank: common questions
Which is bigger, HDFC Bank or ICICI Bank?
By market cap, HDFC Bank is bigger at ₹12.2L Cr, against ₹11.3L Cr for ICICI Bank (prices as of 6 Nov 2026).
Which has a lower P/E ratio, HDFC Bank or ICICI Bank?
HDFC Bank trades at a P/E of 17.2× and ICICI Bank at 19.3×. HDFC Bank has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, HDFC Bank or ICICI Bank?
HDFC Bank reports a return on equity of 11.0% and ICICI Bank 16.5%. ICICI Bank has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, HDFC Bank or ICICI Bank?
Over the last three years: profit grew +12.5% a year at HDFC Bank and +16.8% at ICICI Bank, so ICICI Bank grew profit faster. Past growth doesn’t predict future growth.