Cause for concern? HDFC Bank is lagging ICICI Bank where it matters as investors count Rs 5 lakh crore loss

HDFC Bank has lagged ICICI Bank across key operating metrics post its merger, with investors counting about Rs 5 lakh crore in losses on private bank stocks. HDFC Bank's net interest margin fell 13 basis points quarter-on-quarter to 3.4 percent, retail loan growth stayed weak at 7.2 percent and CASA growth lagged at 9.4 percent, leading to a 3 percent earnings miss flagged by Emkay. In comparison, ICICI Bank reported superior metrics including 4.36 percent NIM, 20 percent YoY loan growth and profit after tax of Rs 14,800 crore up 16 percent year-on-year.