Outweighing HDFC Bank, better return ratios: How analysts see ICICI Bank Q2

Over the past three months, shares of ICICI Bank have slipped 6.7 per cent on the bourses as against HDFC Bank's 10.14 per cent correction

Shares of ICICI Bank may outperform those of HDFC Bank in the near-term, analysts said on Monday, after the Sandeep Bakhshi-led private sector lender reported a strong set of numbers for the July to September quarter (Q2) of financial year 2023-24 (FY24).

The result, they said, reiterated that ICICI Bank is maintaining a sustainable and prudent growth led by tech-driven initiatives as against HDFC Bank, which is facing merger related challenges.

According to analysts at Prabhudas Lilladher, ICICI Bank is valued at par with HDFC Bank at 2.2x/1.9x on FY25/26E core adjusted book value (ABV) basis. The recent correction in