ICICI Bank Outperforms HDFC Bank in Q2

ICICI Bank and HDFC Bank are two of India's largest private sector banks.

In the June quarter, ICICI Bank performed better than HDFC Bank in several areas.

ICICI Bank had higher loan growth, better deposit growth, and stronger profitability.

HDFC Bank, on the other hand, had weaker retail lending and faced pressure on its lending yields.

ICICI Bank's operating expenses increased due to branch expansion, while HDFC Bank focused on cost discipline.

Both banks maintained stable asset quality.

Bernstein, a brokerage firm, retained its 'Outperform' rating on both banks but indicated a higher upside potential for HDFC Bank.