Axis Bank vs ICICI Bank: Which is the best Indian banking stock?
Banks wield immense power in the financial world, acting as modern-day gladiators in an arena where loans and deposits shape economies and personal lives. Gone are the days of dusty ledgers and long lines at teller windows. Today, the Indian banking industry is driven by innovation, adapting to serve a rapidly evolving population.
In this dynamic landscape, two giants, ICICI Bank and Axis Bank, are vying for dominance. Both boast impressive track records, vast branch networks, and a commitment to innovation. Let's delve into which bank has the potential to rise to the top.
Founded in 1993, Axis Bank is a leading private bank in India with an extensive branch network. It offers a wide range of financial services, including retail, corporate, wholesale, and investment banking. Axis Bank has a significant market share in banking, credit cards, and personal loans.
Recently, it expanded its reach by acquiring Citibank India's retail banking business. ICICI Bank is the second-largest private sector bank in India, offering a diversified portfolio of financial products and services to retail, corporate, and small and medium-sized businesses. It operates through its subsidiaries, providing banking, life and general insurance, housing finance, investment banking, and brokerage services.
ICICI Bank also has an international presence with branches and representative offices across the globe. In terms of market capitalisation, ICICI Bank leads with ₹7,877.8 billion as of 15 May 2024, compared to Axis Bank's ₹3,465.9 billion. ICICI Bank also has a larger branch network, with 6,523 branches and 17,190 ATMs across India, while Axis Bank has 5,377 branches and 16,026 ATMs.
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