ICICI Bank vs Axis Bank: Which is a better long-term investment?

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Private sector lenders Axis Bank and ICICI Bank, both have been in focus after reporting a strong set of numbers for the third quarter of FY23. Let's see which of these two private sector lenders is a better long-term investment.

Over 9% return on fixed deposits: These two banks are offering highest interest rates on FDs

These two small finance banks are offering 9 percent and above fixed deposit interest rates while several private lenders are providing an interest rate of 7 to 8 percent. The revised interest rates on special tenure are:

Government is unlikely to announce capital infusion for PSU banks in the upcoming Budget: Report

In the first half of FY23, the cumulative net profit of all PSBs increased by 32 percent to ₹40,991 crore. The combined profit more than doubled to ₹66,539 crore in 2021–22 despite COVID-19 pressure. Meanwhile, the gross NPA ratio of banks has fallen to a 7-year low of 5% in September 2022.

Moody's affirms deposit rating of SBI, upgrades for PNB, BoB, Canara Bank

<ul><li>The outlooks on long-term ratings of all the four banks remain stable, Moody's Investors Service said in a statement.</li></ul>

Gross bond issuances by banks surged to record ₹91,500 crore in last 3 quarters: Report

While credit demand is increasing across all segments, deposit growth has lagged. This has resulted in a widening credit-deposit gap. To bridge this gap, banks have been relying on various sources of funding.

Banking stocks remain attractive in a higher rate regime; check Motilal Oswal's 4 top picks from the sector

The ongoing monetary tightening is expected to benefit banks that have a higher mix of floating-rate books.

Banking sector earnings preview: Q3 to be another strong quarter, says Sharekhan; here are its top picks

Sharekhan said the banks in its coverage universe are expected to report 35 percent YoY earnings growth in Q3 FY2023E, driven by healthy loan growth and lower credit costs. Among private banks, Sharekhan expects ICICI Bank, Axis Bank, and Kotak Mahindra Bank to report strong advances growth.

Corporate borrowing moves from CPs, NCDs to banks: Report

While bank credit growth is in excess of 17%, overall funding that included bonds and CPs climbed 13%, said the report.

Banks’ Q3 deposits surge thanks to increase in interest rates: Report

Banks have raised deposit rates by up to 200 basis points since May 2022 and much of the hikes have taken place in the last three months.

SBI, ICICI Bank, HDFC Bank continue to remain systemically important banks: RBI

<ul><li>The Reserve Bank of India (RBI) had announced SBI and ICICI Bank as D-SIBs in 2015 and 2016. Based on data collected from banks as on March 31, 2017, HDFC Bank was also classified as a D-SIB.</li></ul>

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ICICI Bank vs Axis Bank: Which is a better long-term investment?

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