SBI vs ICICI Bank: Which is Better?

You save a lot of money and put in a lot of work, but you need help determining where to keep it. It is only possible to retain some of your hard-earned savings at home; opening a bank account is your only option. You might be surprised to hear that banks where you have accounts allow you to invest in their business.

This blog post will compare the State Bank of India (SBI) and ICICI Bank.

SBI Overview

State Bank of India is the largest public sector bank in India and is a titan in the Indian banking landscape with a 1/4^th share in the market. SBI is headquartered in Mumbai and holds a rich heritage of over 200 years.

The roots of SBI trace back to 1806 with the establishment of the Bank of Calcutta, the first joint stock bank in British India. Three separate presidency banks – Bank of Bengal, Bank of Bombay, and Bank of Madras emerged across British India. In the year 1921, the three presidential banks merged to form the Imperial Bank of India.

In the year 1955, the government of India nationalized the Imperial Bank of India and renamed it as State Bank of India. SBI later acquired various state-associated banks and commercial banks.

SBI has played an important role in bringing banking services to rural areas. Currently, SBI holds a strong distribution network of 22,405 branches and 65,627 ATMs.

ICICI Bank Overview

ICICI Bank is among the biggest banks in India’s private sector. The government of India established the Industrial Credit and Investment Corporation of India (ICICI) on 5 January 1955. As a division of ICICI Limited, ICICI Bank was founded in 1994. It made history by being the first Indian bank and firm to list on the New York Stock Exchange. ICICI and ICICI Bank combined to form a new financial organization to increase business efficiency. Following accusations against Chanda Kochhar, the managing director of ICICI Bank, in 2018 about inappropriate lending practices, Sandeep Bakhshi assumed the role of managing director. It was the first bank to provide contactless credit and debit cards. 

Company’s Comparative Study

Particular	SBI	ICICI Bank
Current Share Price	INR 816	INR 1,226
Market Capitalization (Crores)	7,27,891	8,63,981
52 Week High Price	INR 912	INR 1,258
52-Week Low Price	INR 543	INR 899
FIIs Holdings (%)	11.15	45.48
DIIs Holdings (%)	23.64	44.97
Book Value per Share	INR 465	INR 365
PE Ratio (x)	9.99	19.1

Read Also: Punjab National Bank vs State Bank of India

Financial Statements Comparison

Income Statement Comparison (FY 2024)

Particular	SBI	ICICI Bank
Interest Income	4,39,188	1,59,515
Total Income	5,94,574	2,36,037
Total Expenditure	4,95,543	1,71,890
Net Profit	68,224	45,007

Balance Sheet Comparison (FY 2024)

Particular	SBI	ICICI Bank
Deposits	49,66,537	14,43,580
Total Capital & Liabilities	67,33,779	23,64,063
Advances	37,84,273	12,60,776

Cash Flow Statement Comparison (FY 2024)

Particular	SBI	ICICI Bank
Cash Flow from Operating Activities	21,632	1,57,284
Cash Flow from Investing Activities	-4,251	-1,45,931
Cash Flow from Financing Activities	-9,896	13,765

Key Performance Indicators

Particular	SBI	ICICI Bank
Net Interest Margin (%)	2.66	3.61
Net Profit Margin (%)	15.51	28.21
ROE (%)	17.31	17.74
Capital Adequacy Ratios (%)	14.28	16.33

Read Also: HDFC vs SBI

Conclusion

The comparison of SBI and ICICI Bank presented above leads us to conclude that while SBI has more net profit, ICICI Bank has a higher net profit margin. Although every bank has something special to offer, we always advise speaking with an investment expert before making investment decisions.

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