HDFC Bank and ICICI Bank reported their Q3FY23 results.

ICICI Bank’s consolidated net profit increased by 27.64%.

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HDFC Bank’s net profit increased by 19.8%.

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ICICI Bank’s consolidated net income was Rs 53,922.75 crore during Q4FY23.

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HDFC Bank’s net profit was Rs 12,047.5 crore for Q4FY23.

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HDFC Bank’s Net interest income (NII) increased by 23.7% to Rs 23,351.8 crore.

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ICICI Bank’s board recommended a dividend of Rs 8 per share.

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Ravi Singhal, CEO of GCL Broking, suggests choosing HDFC Bank over ICICI Bank for medium to long-term investment.

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Several brokerages have a ‘buy’ tag on ICICI Bank shares after it reported robust numbers for Q4FY23.

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