HDFC Bank vs ICICI Bank: How The Two Lenders Have Fared Financially
NDTV
HDFC Bank reigns over the banking industry. However, ICICI Bank is inching closer in terms of financial performance. Which bank will emerge as a leader?
Banks are known as the backbone of an economy because they maintain sufficient liquidity by circulating money in the economy. Banks provide people a platform to park their surplus cash as well as borrow when they fall short.
According to the RBI, the cumulative credit of Indian banks stood at Rs 110.46 lakh crore at the end of September 2021.
However, India is still an underpenetrated market in terms of banking services primarily due to low level of financial literacy in the country. As a result, the total credit outstanding is just 15% of the total value of all goods and services produced in the country.
Private sector banks and public sector banks (PSBs) together make up for the Indian banking industry. For the last two decades, private banks have outperformed PSBs, largely due to better management.