Private Bank Stocks and Companies in India

The largest Private Bank stocks in India by market value are ICICI Bank (₹11.3 lakh crore), HDFC Bank (₹12.2 lakh crore) and Kotak Bank (₹4.78 lakh crore), at prices of 6 Nov 2026.

• ICICI Bank: ₹1,571.20 | market value ₹11.3 lakh crore | P/BV 2.9
• HDFC Bank: ₹788.25 | market value ₹12.2 lakh crore | P/BV 2.0
• Kotak Bank: ₹480 | market value ₹4.78 lakh crore | P/BV 2.4
• Axis Bank: ₹1,322.90 | market value ₹4.12 lakh crore | P/BV 1.8
• Federal Bank: ₹340.10 | market value ₹84,107 crore | P/BV 2.0
• IndusInd Bank: ₹910.25 | market value ₹70,921 crore | P/BV 1.0
• IDFC First Bank: ₹77.33 | market value ₹66,696 crore | P/BV 1.4
• RBL Bank: ₹379 | market value ₹58,852 crore | P/BV 1.4
• Yes Bank: ₹17.20 | market value ₹53,990 crore | P/BV 1.0
• Karur Vysya Bank: ₹370.05 | market value ₹35,670 crore | P/BV 2.3

The other 8 Private Bank companies are in the full list below.

Share price | market value | P/BV or P/E, biggest first. Prices, market values and ratios at the official close of 6 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

The largest 15 of 18 listed Indian Banks - Private companies are named here; all 18 are ranked in the scorecard. This is the set of companies people mean when they search for a Nifty Banks - Private index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one.

1. ICICI Bank Ltd₹10.8 lakh cr
2. HDFC Bank Ltd₹10.7 lakh cr
3. Kotak Mahindra Bank Ltd₹4.6 lakh cr
4. Axis Bank Ltd₹3.8 lakh cr
5. Federal Bank Ltd₹84,000 cr
6. IndusInd Bank Ltd₹65,300 cr
7. IDFC First Bank Ltd₹62,100 cr
8. RBL Bank Ltd₹54,500 cr
9. Yes Bank Ltd₹51,000 cr
10. Karur Vysya Bank Ltd₹34,700 cr
11. Bandhan Bank Ltd₹24,900 cr
12. City Union Bank Ltd₹21,600 cr
13. South Indian Bank Ltd₹14,800 cr
14. Tamilnad Mercantile Bank Ltd₹13,000 cr
15. Jammu and Kashmir Bank Ltd₹12,900 cr

The remaining 3 Banks - Private companies are named and ranked in the scorecard.

18 Private Bank companies in the Banks - Private industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 18 are listed below, largest first. The largest is ICICI Bank (₹10.8 lakh crore) and the smallest with a market value is Dhanlaxmi Bank.

Download all 18 Private Bank companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 41% ahead of NIFTY 500. Earnings across its companies grew 16% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 55 weeks running.

Price and the fundamentals both up. 7 of 18 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high). 1 is 20% or more behind over a year while earnings grew 20% or more.

Ahead of NIFTY 500 on the three-month view for 55 weeks running; 10 of the 18 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 7 of those 18 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 18 of the 18 that report earnings.

Participation is shrinking, 9 → 7 of 18 over four weeks, after being ahead of NIFTY 500. Price-only fade, 18 of 18 members have higher trailing twelve-month earnings than a year ago, so the fade is in the price, not in the earnings.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 18 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Banks - Private has done better than the NIFTY 500 by 26.2% over the last 52 weeks. Over 13 weeks the gap is a lead of 3.4%. South Indian Bank Ltd is the strongest against the sector itself at +25%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 12.0 as of 30 October 2026 (narrowing, rising).

Banks - Private has done better than the NIFTY 500 by 26.2% over 52 weeks and by 3.4% over 13 weeks. 7 of 18 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 7 of the 17 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Karur Vysya Bank Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 100% evidence confidence.

Axis Bank Ltd scores well on valuation against its peers or its own history, but its earnings have not yet improved enough to back that up.

Karnataka Bank Ltd has the strongest one-year price move in Banks - Private at +67.3%. South Indian Bank Ltd leads on relative strength against the NIFTY, at +35.6%. 11 of 18 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Banks - Private itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

The whole history shows repeated banking recoveries, not a new uninterrupted price boom. The current 47-month sideways range is long but loose, spanning 39%, and October prices remain 11.2% below its top. In the week of 5 October 2026, 83.3% of 18 Banks - Private companies were beating the Nifty 500, against 77.8% on 25 May 2026.

Banks - Private is one of the Top 25 sectors in our latest review.

From our industry review of 10 October 2026.

Better cost control, improved lending and deposit mix, and fewer bad loans are helping several banks. Margin recovery is uneven: Federal is improving, Axis expects recovery, and IndusInd still expects near-term pressure. This supports an early recovery, but not a confirmed industry-wide change.

From our industry review of 10 October 2026.

18 of 19 Banks - Private companies held a results call for July to September 2026. Karnataka Bank guided: Advances growth 15-20% and liabilities growth 10-15% with overall business around 15% in FY27.

7 more Banks - Private calls held for July to September 2026 are not shown here, to keep the page fast.

From the results calls for July to September 2026.

Big funds, foreign and Indian, raised their stake by 0.6 points over the last two quarters. Founders and promoters cut theirs by 0.3 points.

• Spending on plants is not a useful measure for a lender, so it is left out.

Big funds = foreign and Indian institutions, change in their share of ownership across 18 Banks - Private companies, in percentage points.

Ownership and spending as of 10 October 2026.

2 chains of cause and effect link Banks - Private to other industries right now. Future loan-loss rules can tighten the supply of finance. For Banks - Private: Additional loan-loss provisions can reduce earnings, with different effects across banks.

From our cross-industry review of 10 October 2026.

The next things that show whether the Banks - Private story is on course. First: July to September 2026 results: separate repeatable lending earnings from tax interest, treasury gains and recoveries.

• Axis's next margin print against its claimed cycle bottom and its 3.8% structural goal.
• Federal's next margin print against its promised 5 to 6 basis-point quarterly improvement, meaning 0.05 to 0.06 percentage points.
• RBL's Q2 margin recovery and Q3 card-loss normalization against its stated timetable.
• Actual funding raised through the foreign-currency deposit window, which the Tijori report says closed on September 30, rather than further launch expectations.
• A price breakout from the long range accompanied by sustained improvement against NIFTY 500.

What would change the story

A year-on-year fall in the next reported sector quarterly profit, accompanied by renewed margin compression at the major profit contributors, would break this early-recovery call: the discount would then reflect weakening returns rather than improving earnings waiting for a price breakout.

From our industry review of 10 October 2026.

HDFC Bank Ltd has the highest Income among the 18 Banks - Private companies compared here, at ₹3,59,956 crore. ICICI Bank Ltd is next at ₹2,06,191 crore. Dhanlaxmi Bank Ltd has the highest Income growth at 23.1%, so level and change sit with different companies. 18 of 18 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: HDFC Bank Ltd is the largest at ₹3,59,956 crore, 74.6% ahead of ICICI Bank Ltd. Dhanlaxmi Bank Ltd's growth is 23.1% from a ₹1,770 crore base, with 20 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: HDFC Bank Ltd is the size to compare against; Dhanlaxmi Bank Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: HDFC Bank Ltd's growth falls below Dhanlaxmi Bank Ltd's for two consecutive comparable reports while operating margin also compresses.

For lenders, reported income is used instead of industrial-company sales. Growth is compared year-on-year.

Income · company comparison

Income · largest

Income growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

HDFC Bank Ltd has the highest Net profit among the 18 Banks - Private companies compared here, at ₹83,685 crore. ICICI Bank Ltd is next at ₹62,827 crore. IDFC First Bank Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: HDFC Bank Ltd earns the most, ₹83,685 crore of profit over the last 12 months, 33.2% above ICICI Bank Ltd. IDFC First Bank Ltd shows at least 100% on the scoring scale (109.3% in full) growth from a profit base of ₹3,007 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: HDFC Bank Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is ranked only where the comparison base is economically meaningful. Loss-to-profit flips are shown but do not win the growth table.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

Axis Bank Ltd has the highest Deposits among the 18 Banks - Private companies compared here, at ₹14,50,288 crore. Kotak Mahindra Bank Ltd is next at ₹6,47,459 crore. HDFC Bank Ltd has the highest Borrowings at ₹5,94,144 crore, so level and change sit with different companies. 15 of 18 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Axis Bank Ltd leads deposits at ₹14,50,288 crore; HDFC Bank Ltd leads borrowings at ₹5,94,144 crore.

What this means: Axis Bank Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current borrowings signal.

For banks, debt is operating funding rather than industrial leverage. Deposits and borrowings are therefore shown as funding-base levels; asset quality, funding cost and liquidity determine whether that funding is attractive.

Funding base · company comparison

Deposits · largest deposit bases

Borrowings · largest borrowings

All-company data · latest reported quarter

Deposit scale can lower funding risk, while rising wholesale borrowings can change cost and liquidity. Asset quality and margins decide whether the funding base creates value.

ICICI Bank Ltd has the highest ROA among the 18 Banks - Private companies compared here, at 2.1%. IndusInd Bank Ltd has the highest ROA change at +0.6 percentage points, so level and change sit with different companies. 18 of 18 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: ICICI Bank Ltd leads roa at 2.1%; IndusInd Bank Ltd leads roa change at +0.6 percentage points.

What this means: ICICI Bank Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roa change signal.

ROA is the cleanest first comparison for lenders because the balance sheet is the operating asset.

Return on assets · company comparison

Withheld from this chart: ICICI Bank Ltd (ICICIBANK): its two data sources disagree by up to 7% on reported income across 15 comparable periods, so its derived ratios are withheld; HDFC Bank Ltd (HDFCBANK): its two data sources disagree by up to 26% on reported income across 15 comparable periods, so its derived ratios are withheld; Federal Bank Ltd (FEDERALBNK): its two data sources disagree by up to 4.4% on reported income across 16 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROA · highest

ROA change · fastest improvers

All-company data · latest reported quarter

Karur Vysya Bank Ltd has the highest ROE among the 18 Banks - Private companies compared here, at 19.1%. ICICI Bank Ltd is next at 15.9%. IndusInd Bank Ltd has the highest ROE change at +5.7 percentage points, so level and change sit with different companies. 18 of 18 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Karur Vysya Bank Ltd leads roe at 19.1%; IndusInd Bank Ltd leads roe change at +5.7 percentage points.

What this means: Karur Vysya Bank Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roe change signal.

ROE shows the return to shareholders, but should be read with asset quality and leverage.

Return on equity · company comparison

Withheld from this chart: ICICI Bank Ltd (ICICIBANK): its two data sources disagree by up to 7% on reported income across 15 comparable periods, so its derived ratios are withheld; HDFC Bank Ltd (HDFCBANK): its two data sources disagree by up to 26% on reported income across 15 comparable periods, so its derived ratios are withheld; Federal Bank Ltd (FEDERALBNK): its two data sources disagree by up to 4.4% on reported income across 16 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROE · highest

ROE change · fastest improvers

All-company data · latest reported quarter

Tamilnad Mercantile Bank Ltd has the lowest Gross NPA among the 18 Banks - Private companies compared here, at 0.6%. Karur Vysya Bank Ltd is next at 0.7%. Bandhan Bank Ltd has the lowest GNPA change at −1.9 percentage points, so level and change sit with different companies. Its Gross NPA series carries 16 reported observations across the 20-quarter window.

What the numbers say: Tamilnad Mercantile Bank Ltd leads gross npa at 0.6%; Bandhan Bank Ltd leads gnpa change at −1.9 percentage points.

What this means: Tamilnad Mercantile Bank Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current gnpa change signal.

Lower gross NPA is better. Improvement means the ratio is falling, so ranks are intentionally inverted.

Asset quality · company comparison

Withheld from this chart: ICICI Bank Ltd (ICICIBANK): its two data sources disagree by up to 7% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

Gross NPA · lowest