HDFC Bank and ICICI Bank reported their Q3FY23 results.

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

HDFC Bank’s net profit increased by 19.8%.

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

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

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

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

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

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