HDB vs. IBN: HDFC Bank vs. ICICI Bank Stock Comparison

Company Profile

HDFC Bank (HDB) and ICICI Bank (IBN) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Both HDFC Bank (HDB) and ICICI Bank (IBN) trade as ADRs — their core financials are comparable, but keep FX, depositary-program fees, and dividend withholding in view for each.

Price Performance

Cumulative Growth

Trailing Returns

Calendar-Year Returns

Performance Metrics

Risk Profile

Drawdown History

Return Distribution

Risk Metrics

Risk-Adjusted Performance

Risk-Return Positioning

Risk-Adjusted Metrics

Profitability

ICICI Bank (IBN) at 16.49% sits in the top ROE quartile, while HDFC Bank (HDB) at 11.01% is closer to the peer norm — stronger capital efficiency for IBN.

ICICI Bank (IBN) at 27.85% keeps about the industry-typical share of revenue as profit, while HDFC Bank (HDB) at 26.53% retains only a bottom-quartile share.

Neither side reports a meaningful operating margin: for HDFC Bank (HDB) in Banks and ICICI Bank (IBN) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Growth

ICICI Bank (IBN) at 9.13% is around its peer norm for revenue growth, while HDFC Bank (HDB) at 5.23% drops into the bottom quartile, signaling weaker demand or pricing momentum.

Only one side can be read here: ICICI Bank (IBN) reports EPS growth of 5.10%, ranked against its industry; HDFC Bank (HDB) has no EPS growth figure this period.

Growth Metrics

Financial Strength

current ratio doesn’t apply on either side: HDFC Bank (HDB) in Banks and ICICI Bank (IBN) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

debt-to-equity ratio is set aside for both: HDFC Bank (HDB) in Banks and ICICI Bank (IBN) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Dividends

ICICI Bank (IBN) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile HDFC Bank (HDB) reports a yield of 52.63%, ranking against industry peers normally.

HDFC Bank (HDB) at 23.43% keeps its payout within the industry’s typical band; ICICI Bank (IBN) at 14.16% pays out less than peers usually do, retaining more of its earnings — a policy difference more than a quality gap.

Dividend Metrics

Valuation

Both look expensive on trailing earnings: HDFC Bank (HDB) at 16.22 sits in the richer P/E ratio quartile, and ICICI Bank (IBN) at 19.26 is richer still, above its industry range.

P/S ratio is set aside for both HDFC Bank (HDB) in Banks and ICICI Bank (IBN) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

Measured against book value, both HDFC Bank (HDB) at 10.01 and ICICI Bank (IBN) at 2.94 look expensive — each P/B ratio sits above its industry’s benchmark range.

Valuation Metrics